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United States Senate Resolution No. 66, Of 25 November 2005

Original Language Title: Resolução do Senado Federal nº 66, de 25 de novembro de 2005

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I do 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. 66 OF 2005

Authorizes the Federative Republic of Brazil to hire external credit operation at the total value of up to US$ 10,800,000.00 (ten million and eight hundred thousand U.S. dollars) with the Bank Interamerican Development-BID.

The Federal Senate resolves:

Art. 1º It is the Federative Republic of Brazil authorized to hire external credit operation in the total value of up to US$ 10,800,000.00 (ten million and eight hundred thousand U.S. dollars) with the Inter-American Development Bank-BID.

Paragraph single. The advinted features of this credit operation are intended for the partial financing of the Cadastro de Earths Program and Funday-to-day Regularization in Brazil.

Art. 2º The basic financial conditions of the credit operation are as follows:

I-debtor: the Federative Republic of Brazil;

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

III-total value: up to US$ 10,800,000.00 (ten million and eight hundred thousand U.S. dollars);

IV-modality of borrowing: unimoneal mechanism;

V-deadline of disbursement: 3 (three) years;

VI-amortization: semestral and consecutive plots, as much as possible, equal, winning the first 6 (six) months from the date initially scheduled for the final disbursement and the last no later than 20 (twenty) years after the signing of the Contract;

VII-interest: required semester, calculated on the basis of the Bank's catchment cost for skilled unimonetary loans, ascertained durants the 6 (six) months previous to the respective maturities, plus reasonable margin, expressed in terms of annual percentage, for coverage of administrative expenses;

VIII-credit commission: required semester on the same dates of interest payments and calculated on the basis of the rate of up to 0.75% a.a. (seventy-five hundrths per cent a year), on the undisbursed balance of the loan, coming into force 60 (sixty) days after the signing of the Contract, being that, at first, the Mutuary will pay rate of 0.25% a.a. (twenty five hundrths per cent per cent per annum), and this percentage may be modified semi-annually by the Bank without which, under no circumstances, it may exceed the target percentage of 0.75% a.a. (seventy-five hunduths per cent per year);

IX-resources for inspection and supervision general: during the period of disbursements, no resources will be reserved for the fulfillment of general inspection and supervision expenses, unless the Bank establishes otherwise during such a period; in no case, to meet the said expenses in a given semester, they will be able to target resources greater than 1% (one percent) of the funding, divided by the number of semesters understood in the original disbursement term.

Paragraph single. The dates of payments of the principal and the financial burdens, provided for in the contractual minuta, may be changed depending on the date of their signature.

Art. 3º The authorization granted by this Resolution is to be exercised within the maximum period of 540 (five hundred and forty) days, counted from its publication.

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

Federal Senate, on November 25, 2005

Senator Renan Calheiros

President of the Federal Senate