United States Senate Resolution No. 15, 04 October 2007

Original Language Title: Resolução do Senado Federal nº 15, de 04 de outubro de 2007

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Do I know that the Senate approved, and I, Renan Calheiros, President, pursuant to art. 48, paragraph XXVIII, the internal regulations, enact the following R E S O L U t I O N° 15, 2007 Authorizing the Federative Republic of Brazil to hire external credit operation, for a total value of $ 16,100, 000.00 (sixteen million and 100,000 u.s. dollars) with the Inter-American Development Bank (IDB).
The Senate resolves: Art. 1 the Federative Republic of Brazil is authorized to hire external credit operation, for a total value of $ 16,100, 000.00 (sixteen million and 100,000 u.s. dollars) with the Inter-American Development Bank (IDB).
Sole paragraph. The features of credit operation are intended for partial funding of multiphase program supporting Electronic Legislative Development in Brazil (Interlegis II).
Art. 2 The basic financial conditions of credit operation are as follows: I-borrower: Federative Republic of Brazil;
II-creditor: Inter-American Development Bank (IDB);
III-total value: up to $ 16,100, 000.00 (sixteen million and us $ 100,000);
IV disbursement period: up to 4 (four) years from the date of entry into the contract;
V-amortization: 42 (42) semi-annual installments, consecutively and, as far as possible equal, winning the first in 15 February 2012 and the last in August 2032 15;
I saw interest: required semi-annually on February 15 and August 15 of each year, calculated on the outstanding balance of the loan to a regular annual fee for each quarter made up by i) quarterly LIBOR for USD, ii) more, or less, a cost related to borrowings which finance loans in LIBOR, iii) plus the net value of any cost or profit generated by operations to mitigate fluctuations in the LIBOR and iv) plus the margin (spread) for loans from ordinary capital;
VII-commitment: to 0.75% p.a. (75 cents per 100 a year), calculated on the balance due is not paid on the loan, required twice a year on the same dates of interest payments, entering into force 60 (60) days after the signing of the contract;
VIII-Commission: up to 1.0% (1%) about the value of the loan.
Sole paragraph. The dates for payment of the principal and financial burdens, as well as disbursements, provided for in the draft contract, can be modified on the basis of the date of its signature.
Art. 3 the authorisation granted by this resolution must be exercised within 540 (540) days, counted of the date of its publication.
Art. 4 this resolution shall enter into force on the date of its publication.
Senate, on 4 October 2007.
Senator Renan Calheiros President of Senate

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