I get to know that the FEDERAL SENATE approx, and I, ANTONIO CARLOS MAGALHÃES, PRESIDENT, pursuant to art. 48, item 28, of the Rules of Procedure, promulgated the following

RESOLUTION NO. 55, OF 2000.

Authorizes the Union to hire external credit operation, with the Bank for Reconstruction and Development-Bird, in value equivalent to ate 505.060.000.00 (five hundred and five million and sixty thousand U.S. dollars), of principal, in the modality of sectoral adjustment-Tax and Administrative Reform.

THE FEDERAL SENATE

resolves:

Art. 1º Is the Union authorized in the terms of the art. 52, V, of the Federal Constitution, and of Resolution No. 96, of 1989, reinstated by resolution No. 17, of 1992, both of the Federal Senate, to hire external credit operation with the bank for Reconstruction and Development- Bird, in value equivalent to up to US$ 505.060.000.00 (five hundred and five million and sixty thousand U.S. dollars), of principal, in the modality of sectoral adjustment-Tax and Administrative Reform.

Art. 2º The credit operation referred to in art. 1º presents the following financial characteristics:

I-intended value :US$505.060.000.00 (five hundred and five million and sixty thousand U.S. dollars), in a single tranche;

II-deadline of disbursement: until December 31, 2000;

III-amortization: semestral plots, consecutive, worth US$ 126.245.000.00 (one hundred and twenty-six million, two hundred and sixty-five thousand U.S. dollars), winning the first on July 15, 2003, and the last one on January 15, 2005:

IV-interest: Semestral Libor, increased by 4% (four percent), due semester on January 15 and July 15;

V-commission à view: 1% (one percent) on the value of the loan, to be deducted on the date of effectivity of the contract; and

VI-commission of commitment: 0.75% a.a (sixty-five hundreth to the year) required semiannually (on the same date as payment of interest) on undisbursed debtor balances, entering into force sixty days after the signing of the Contract.

Art. 3º The authorization granted by this Resolution is to be exercised within five hundred and forty days, counted the date of its publication.

Art. 4º This Resolution comes into effect on the date of its publication.

FEDERAL SENATE, on June 29, 2000.

Senator ANTONIO CARLOS MAGALHÃES

PRESIDENT