United States Senate Resolution No. 52, August 31 2010

Original Language Title: Resolução do Senado Federal nº 52, de 31 de agosto de 2010

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Do I know that the Senate approved, and I, Jose Sarney, President, pursuant to art. 48, paragraph XXVIII, the internal regulations, enact the following R E S O L U t I O N° 52, 2010 Authorizes the State of Rio de Janeiro to hire external credit operation, with guarantee of the Union with the International Bank for reconstruction and development (IBRD), worth up to $ 18,673,000.00 (eighteen million, us $ 673,000) to finance the "Program of renewal and Strengthening of public management-Pro-management".

The Senate resolves: Art. first is the State of Rio de Janeiro authorized to hire external credit operation, with guarantee of the Union with the International Bank for reconstruction and development (IBRD), worth up to $ 18,673,000.00 (eighteen million, 673,000 u.s. dollars).
Sole paragraph. The features of credit operation are intended to finance the "Program of renewal and Strengthening of public management-Pro-management".
Art. 2 the credit operation referred to in art. 1st should be conducted under the following conditions: (I)-debtor: State of Rio de Janeiro;
II-creditor: International Bank for reconstruction and development (IBRD);
III-guarantor: Federative Republic of Brazil;
IV-value: up to $ 18,673,000.00 (eighteen million, us $ 673,000);
V-mode: variable margin;
VI-disbursement period: until 30 June 2015;
VII-depreciation: 33 (33) semi-annual installments, successive and whenever possible the same, paid in May 15 and November 15 each year, and each one of the 32 (32) the initial installments match 3.03% (three integers and three hundredths for 100) of the total value of the loan and the last match 3.04% (three integers and four hundredths percent);
VIII-interest: required semi-annually on the same payment dates and amortization calculated on the outstanding balance of the loan, the journal a composite rate for the six-month Libor interest rate for us dollar, plus a spread being determined by the Bird every fiscal year;
IX-interest: 0.50% p.a. (50 cents for 100 year) plus the interest due and not yet paid up to 30 (thirty) days after the due date for your payment;
X-Commission: 0.25% (twenty-five cents per 100) on the value of the loan, to be debited on the date on which the contract enters into effectiveness.
(1) the dates of payment of the principal and financial burdens, as well as disbursements referred to, can be modified on the basis of the date of signature of the loan contract.
paragraph 2 is provided to the borrower, already duly authorized by this resolution, a formal request to the creditor to exercise the option of amending the loan mode, variable to fixed margin margin.
(3) For the exercise of the option referred to in paragraph 2, shall be authorized to recover the costs incurred by the Bird on their achievement and a transaction Commission.
Art. third is the Union authorized to grant guarantee to the State of Rio de Janeiro in the hiring of external credit operation referred to in this resolution.
(1) the authorization referred to in the caput is conditioned to the State of Rio de Janeiro celebrates the Union contract for the provision of counter-guarantees in the form of binding that deal with the arts. 155, 157 and 159, all of the Federal Constitution, and other guarantees in law permitted the Federal Government to require transfers of resources to cover the commitments honored directly towards centralization of the accounts of the State or federal transfers.
(2) prior to the signing of the contract, the Ministry of Finance shall verify and certify the defaulting again in the State of Rio de Janeiro as to payments and benefits of accounts contemplated in art. 10 of resolution No. 48, 2007, of the Senate.
Art. 4 the maximum time limit for the exercise of this authorization shall not exceed 540 (540) days, counted from the validity of this resolution.
Art. 5 this decision shall enter into force on the date of its publication.
Senate, on August 31 2010.

Senator José Sarney, President of the Senate

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