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. 29, OF 2014

Authorizes the State of the Pará to hire external credit operation, with guarantee from the Federative Republic of Brazil, with the Inter-American Development Bank (BID), worth up to US$ 26,400,000.00 (twenty-six Millions and four hundred thousand U.S. dollars).

The Federal Senate resolves:

Art. 1º It is the State of Pará authorized to hire external credit operation, with warranty of the Federative Republic of Brazil, with the Inter-American Development Bank (BID), worth up to US$ 26,400,000.00 (twenty six million and four hundred thousand U.S. dollars).

Paragraph single. The resources of the operation are intended for the partial funding of the "Sustainable Tourism Development Programme of the State of Pará (Prodetur/PA)".

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

I-debtor: State of Pará;

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

III-guarantor: Federative Republic of Brazil;

IV-value: up to US$ 26,400,000.00 (twenty six million and four hundred thousand U.S. dollars);

V-modality: flexible financing mechanism;

VI-disbursement: in 5 (five) years, counted as of the duration of the contract;

VII-amortization: semiannual benefits, consecutive and, where possible, equal, winning the first 66 (sixty-six) months after the contract signing date, and the last, up to 25 (twenty-five) years after that date;

VIII-interest: required on daily debtor balances at an annual interest rate fixed for each quarter based on Libor, more or less the cost of capturing the Bank, plus the applicable margin for loans from the ordinary capital of the BID, while the loan has not been the subject of conversion;

IX-conversion: the borrower will be able to request currency and interest rate conversion at any time during the term of the contract, as per contractually willing;

X-commission of credit: up to 0.75% a.a. (seventy-five hundrths per cent a year) on the undisbursed balance of the loan, from 60 (sixty) days of the contract signing date; and

XI-expenditure of inspection and supervision: in a given semester, up to 1% (one per cent) of the value of the loan, divided by the number of semesters understood in the original term of disbursements.

Single paragraph. 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 Federative Republic of Brazil authorized to grant guarantee to the State of Pará in the operation of external credit referred to in this Resolution.

Single paragraph. The authorization provided for in the caput is conditioned:

I-to the conclusion of contract of granting of against guarantees between the State of Pará and the Union, in the form of linking the quotas of state participation in the Union's fundraising, according to the established in the art. 157 and in the incisos I, point "a", and II of the art. 159 of the Federal Constitution as well as the own revenue of the State to which the art is referred. 155, also of the Federal Constitution;

II-to the attestation of the situation of the addedness of the obligations of the State to the Union and its controlled entities; and

III-to the fulfilment of the preconditions to the first disbursement.

Art. 4º The maximum term for the exercise of the present authorisation is 540 (five hundred and forty) days, counted as of the duration of this Resolution. (Term extended by 540 days by Resolution No. 3, from 2016)

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

Federal Senate, on September 3, 2014

Senator RENAN CALHEIROS

President of the Federal Senate