I do know that the Federal Senate has approved, and I, José Sarney, President, in the terms of art. 48, inciso XXVIII, of the Internal Rules, promulgated the following

R E S O L U Ç Ã O. 13, FROM 2011

Authorizes the State of the Holy Spirit to hire external credit operation, with guarantee from the Union, with the Inter-American Development Bank (BID), worth up to US$ 175,000,000.00 (cent and seventy five million U.S. dollars).

The Federal Senate resolves:

Art. 1º It is the State of the Holy Spirit authorized to hire external credit operation, with guarantee of the Union, with the Inter-American Development Bank (BID), worth up to US$ 175,000,000.00 (one hundred and seventy five million dollars northeAmericans).

Single paragraph. The proceeds from this credit operation are intended to finance the "Spirit Road Program of the Holy Spirit III (Pres III)".

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

I-debtor: State of the Holy Spirit;

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

III-guarantor: Federative Republic of Brazil;

IV-value: up to US$ 175,000,000.00 (one hundred and seventy and five million U.S. dollars);

V-modality: loan of the unimonetary mechanism of the ordinary capital of the BID, with interest rate based on Libor;

VI-term of disbursement: 5 (five) years, counted from the term of the loan contract;

VII-amortization: semi-annual instalments, successive and where possible equal, paid on June 15 and on December 15 each year, winning the first after transcurring 5 (five) years and the last one before transcurring 25 (twenty five) years, both of which are counted from the contract signing date;

VIII-interest: required semester on the same repayment terms of amortization and calculated on the periodic debtor balance of the loan, at an annual rate for each quarter determined by the BID and composed by the interest rate Libor quarterly to U.S. dollar, more or less a cost margin related to the loans of the BID that finance the loans of the unimonetary mechanism with interest rate based on Libor, plus the net value of any cost or profit generated by operations to mitigate Libor fluctuations, plus a margin (spread) for loans from the ordinary capital;

IX-credit commission: to be established periodically by the BID and calculated on the undisbursed balance of the financing, required together with the interest, by entering into force 60 (sixty) days after the signing of the contract, and under no circumstances will it exceed the 0.75% percent a.a. (seventy-five hunduths per cent per year);

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

§ 1º The payment dates of the principal and the financial burdens, as well as of the expected disbursements, may be changed depending on the date of signing of the loan agreement.

§ 2º It is provided to the borrower, with written consent from the guarantor, to exercise the option of conversion of the interest rate applicable to the total or partial amount of the loan, from float, based on the Libor, to fixed, and vice versa, in minimum amounts and deadlines set out in the loan agreement.

§ 3º For the exercise of the options referred to in § 2º, it is authorized to collect the costs incurred by the BID in its realization.

Art. 3º It is the Union authorized to provide assurance to the State of the Holy Spirit 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 the Holy Spirit enters into contract with the Union for the granting of countermeasures, under the form of linking the recipes of which they treat the arts. 155, 157 and 159, all of the Federal Constitution, and other guarantees in law admitted, and the Federal Government may apply for the transfers of resources necessary for coverage of the honoured commitments directly from the centralizing accounts of the state fundraising 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 the Holy Spirit as to the payments and benefits of accounts of which it treats art. 10 of Resolution No. 48, 2007, and the fulfilment of the preconditions to the realization of the first disbursement, constants of the minuta of the loan agreement.

Art. 4º The maximum term 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 October 11, 2011

Senator JOSÉ SARNEY

President of the Federal Senate