I get to know that the Federal Senate has approved, and I, Renan Calheiros, President, in the terms of art. 48, inciso XXVIII, of the Internal Rules, promulgated the following

RESOLUTION NO. 9, OF 2014

Authorizes the State of São Paulo to hire external credit operation, with guarantee from the Union, with the Inter-American Development Bank (BID), worth up to US$ 270,000,000.00 (two hundred and seventy millions of U.S. dollars).

The Federal Senate resolves:

Art. 1º It is the State of São Paulo authorized to hire external credit operation, with a guarantee of the Union, with the Inter-American Development Bank (BID), worth up to US$ 270,000,000.00 (two hundred and seventy million U.S. dollars).

Single paragraph. The features of this credit operation are intended for the project "Strengthening the State Management of Health".

Art. 2º The credit operation referred to in art. 1º should be carried out in the following conditions:

I-debtor: State of São Paulo;

II-creditor: Inter-American Development Bank (BID);

III-guarantor: Federative Republic of Brazil;

IV-value: up to US$ 270,000,000.00 (two hundred and seventy millions of U.S. dollars);

V-amortization: in 40 (forty) semestral plots, consecutive ones and, as far as possible, equal, winning the first 5 (five) years after the effective date of the contract, and the last one, up to 25 (twenty five) years after this date;

VI-interest: while no conversion has taken effect, interest will be calculated on the daily debtor balances of the loan, at an annual rate for each quarter determined by the BID plus the margin (spread) for loans of the ordinary capital;

VII-credit commission: to be set up periodically by the BID, up to 0.75% a.a. (seventy-five hundred percent a year) on the undisbursed balance of the financing, required together with the interest and coming into effect 60 (sixty) days after the signing of the contract;

VIII-expenses with inspection and general supervision: in a given semester, the due value may not be higher than 1% (one percent) of the funding, divided by the number of semesters understood in the original disbursement term.

§ 1º The payment dates of the principal, the financial burden and the expected disbursements could be changed depending on the date of signing of the loan agreement.

§ 2º It is permitted to the borrower, already duly authorized by this Resolution, upon request formal to the creditor, observed the deadlines and minimum amounts required in the loan agreement, exercise the option of currency conversion or interest rate conversion, at any time during the duration of the contract.

§ 3º For the exercise of the option referred to in § 2º, it is authorized to charge commission of operation by the BID.

Art. 3º It is the Union authorized to provide assurance to the State of São Paulo in the contracting of the external credit operation referred to in this Resolution.

§ 1º The exercise of the authorization provided for in the caput is conditional on that the State of São Paulo celebrates contract with the Union for the granting of countermeasures, in the form of linking the recipes of which they treat the arts. 155, 157 and 159, in the terms of § 4º of the art. 167, all from the Federal Constitution, and from other guarantees in admitted law, and the Federal Government may apply for the transfers of resources necessary for coverage of the commitments honored directly from the centralizing accounts of the fundraising of the State or federal transfers.

§ 2º Previously to the signing of the contract, the Ministry of Finance will check and attest to the addedness of the State of São Paulo as to the payments and benefits of accounts of which it treats art. 10 of the Resolution of the Federal Senate No. 48, 2007.

Art. 4º The maximum period for the exercise of this authorization is 540 (five hundred and forty) days, counted as of the duration of this Resolution.

Art. 5º This Resolution comes into effect on the date of its publication.

Federal Senate, on May 7, 2014

Senator RENAN CALHEIROS

President of the Federal Senate