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 °- 10, DE 2012

Authorizes the State of Bahia to hire external credit operation, with guarantee from the Federative Republic of Brazil, worth up to US$ 60,000,000.00 (sixty million dollars Americans).

The Federal Senate resolves:

Art. 1º It is the State of Bahia authorized to hire external credit operation, with a guarantee of the Union, with the International Bank for Reconstruction and Development-World Bank (Bird)-, worth up to US$ 60,000,000.00 (sixty million dollars Americans).

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Paragraph single. The resources of the operation are intended for the "Program with Ample Setorial Enfoque of the Areas of Health and Water Resources of the State of Bahia".

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

I-debtor: State of Bahia;

II-creditor: International Bank for Reconstruction and Development-World Bank (Bird);

III-guarantor: Federative Republic of Brazil;

IV-value: up to US$ 60,000,000.00 (sixty million U.S. dollars);

V-modality: variable margin;

VI-deadline of disbursement: until December 31, 2015;

VII-amortization: 50 (fifty) successive semester plots, paid on April 15 and on October 15 each year, winning the first on April 15, 2015, with values equivalents to 1/50 (one fifty avos) of the disbursement, except in the case of the last instalment, which will be equal to the remaining balance;

VIII-interest: rate compound by the benchmark interest rate of the London interbank market (Libor) semester to North American dollar, increased by a margin (spread) to be determined by Bird, required semestically on the same repayment terms of amortization and calculated on the periodic debtor balance of the loan;

IX-interest of mora: 0.5% a.a. (five tenths per cent a year) add to the interest due and not yet paid after 30 (thirty) days of the scheduled dates for your payment, when you will be constituted of the borrower's resident situation;

X-commission in sight: 0.25% (twenty five hundred percent) on the value of the loan, to be debited on the date where the contract enters into effectivity;

XI-modality change option of loan: upon formal request to the creditor and collection of charges incurred by the Bird and a transaction commission, the modality of hiring "variable margin" for "fixed margin" may be changed, with the latter allowing the borrower the use of the following financial instruments:

a) convert from float to fixed and vice-versa the interest rate applicable to the partial or total loan amount;

b) change the reference currency of the credit operation for the amounts already disbursed and to disburse.

Paragraph single. The payment dates of the principal, the financial charges and the expected disbursements will be able to be changed depending on the date of signing of the loan agreement.

Art. 3º It is the Union authorised to grant guarantee to the State of Bahia in the external credit operation referred to in this Resolution.

Paragraph single. The authorization provided for in the caput is conditioned to:

I-that the State of Bahia celebrates contract with the Union for the granting of countermeasures, in the form of linking of the quotas or plots of the State's participation in the Union's fundraising in the form of the provisions of the art. 159, incisies I, (a) and II of the Federal Constitution, or those resulting from those quotas or transferable parcels, as well as of the own revenues to which the arts are referred. 155 and 157, likewise of the Federal Constitution;

II-that is proven to be the situation of addedness of all the obligations of the direct administration of the State of Bahia, together with the Union and its controlled.

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 April 12, 2012.

Senator JOSÉ SARNEY

President of the Federal Senate