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United States Senate Resolution No. 24, 06 June 2002

Original Language Title: Resolução do Senado Federal nº 24, de 06 de junho de 2002

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I Make It Known That The Federal Senate Has Approved, And I, Ramez Tebet, President, In The Terms Of Art. 48, Inciso Xxviii, Of The Internal Rules, Promulgo The Following

R And S The L U Ç Ã ° 24, DE 2002

Authorizes the State of Rondônia to hire external credit operation, with Union warranty, with the Andina de Fomento Corporation (CAF), worth US$ 35,000,000.00 (thirty five million dollars Americans).

The Federal Senate resolves:

Art. 1º It is the state of Rondônia authorized to hire external credit operation, with Union warranty, with the Andina de Fomento Corporation (CAF), in value of US$ 35,000,000.00 (thirty-five million U.S. dollars).

Single paragraph. The advinted resources of the external credit operation referred to in the caput are intended for the partial financing of the Rondônia State Road Fabric Management Program.

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

I-creditor: Andina de Fomento Corporation (CAF);

II-guarantor: Federative Republic of Brazil, having as a counterbalance, as defined in the text of the Law (1,045) of January 29, 2002, authorizing the intended loan, the proceeds from the State's own revenues, the quotas or parcels of the constitutional apportionment funds, as well as others in law admitted;

III-value: US$ 35,000,000.00 (thirty-five million U.S. dollars);

IV-period of disbursement: 24 (twenty-four) months after the Contract date of signing;

V- amortization: 16 (sixteen) semester, consecutive, and, as far as possible, equal, winning the first 180 (one hundred and eighty) days after the last disbursement;

VI-interest: required semestically, calculated on the basis of in the semi-annual Libor for U.S. dollars, increased from a spread, expressed as an annual percentage, from 3.35% a.a. (three integers and thirty-five hunduths per cent per annum), incident on the principal's debtor balance as of the date of each disbursement;

VII-commission of commitment: 0.75% a.a. (seventy-five hundrths percent a year), required semiannually, on the same dates of the interest payment, on the undisbursed debtor balances of the loan, coming into effect after the expiry of the first semester of signing the Contract;

VIII-commission in sight: 1.5% (one whole and five tenths per cent) on the total loan amount, drawn from the loan account at the latest, together with the first disbursement.

Single paragraph. The dates of payments of the principal and the financial burden may be changed depending on the date of signing of the Agreement.

Art. 3º It is the Union authorized to grant guarantee to the State of Rondônia in the operation of external credit referred to in art. 1º of this Resolution.

Single paragraph. The intended permit in the caput is conditional on the State of Rondônia binding, as countermeasures to the Union, the constitutional transfers of tax revenues to which it does jus, supplemented by its own revenues, as well as others in admitted right, upon contract formalization of contragarantia, and the Federal Government may withhold necessary importances directly from the centralizing accounts of the state's fundraising.

Art. 4º The authorization granted by this Resolution is to be exercised within a maximum of 540 (five hundred and forty) days, counted from its publication.

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

Federal Senate, on June 6, 2002

Senator RAMEZ TEBET

President of the Federal Senate