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

No. 6, OF 2012

Authorizes the Municipality of Rio de Janeiro to hiring external credit operation, with a guarantee from the Union, with the Inter-American Development Bank (BID), worth up to US$ 150,000,000.00 (one hundred and fifty million U.S. dollars), of principal, intended to finance partially the "Popular Settlement Urbanization Program-Proap-Step III".

The Federal Senate resolves:

Art. 1º Is the Municipality of Rio de Janeiro authorized to hire external credit operation, with guarantee from the Union, with the Inter-American Development Bank (BID), worth up to US$ 150,000,000.00 (one hundred and fifty million dollars northeAmericans).

Single paragraph. The proceeds from this credit operation are intended to partially finance the "Popular Settlement Urbanization Program-Proap-Step III".

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

I-debtor: Municipality of Rio de January;

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

III-guarantor: Federative Republic of Brazil;

IV-value: up to US$ 150,000,000.00 (one hundred and fifty million U.S. dollars), of principal;

V-modality: loan of the unimonetary mechanism with interest rate based on Libor;

VI-period of disbursement: 5 (five) years and 6 (six) months, counted from the duration of the contract;

VII-amortization: semestral plots, consecutive and, where possible, equal, winning the first 5 (five) years and 6 (six) months after the effective date of the contract and the last one, up to 25 (twenty five) years after that date, to be paid on April 15 and on October 15 each year;

VIII-interest: required semester on the same repayment terms of amortization and calculated on the debtor balance journal of the loan, at an annual rate for each quarter determined by the BID and composed:

a) by the rate of interest Libor quarterly to U.S. dollar;

b) more or less a cost margin related to the BID borrowings that finance the loans of the unimonetary mechanism based on the Libor;

c) plus the margin (spread ) for loans from the ordinary capital;

IX-credit commission: to be set up periodically by the BID, from up to 0.75% a.a. (seventy-five hundred percent a year) on the undisbursed balance of the loan, required together with the interest, going into effect 60 (sixty) days after the signing of the contract;

X-expenses with inspection and general supervision: currently, the BID does not charge expenses with maintenance and supervision; if that policy is revised, the value charged in a given semester may not be more than 1% (one percent) of the funding, divided by the number of semesters understood in the original disbursement term.

§ 1º The payment dates of the principal, the financial burden and the expected disbursements will be able to be changed in function of the date of signing of the loan agreement.

§ 2º It is provided to the borrower, with written consent from the guarantor, provided that respected the terms and conditions set out in the loan contract, exercise the option of conversion of the interest rate applicable to the total or partial amount of the loan, of float, based on the Libor, for fixed, and vice versa, in minimum amounts and deadlines set out in the loan agreement.

§ 3º For the exercise of the options referred to in § 2º, it is authorised to collect the costs incurred by the BID in its realization.

Art. 3º It is the Union authorized to provide assurance to the Municipality of Rio de Janeiro in the contracting of the external credit operation referred to in this Resolution.

§ 1º The exercise of the authorization provided for in the caput is conditional on that the Municipality of Rio de Janeiro enters into contract with the Union for the granting of countermeasures, under the form of linking the recipes of which they treat the arts. 156, 158 and 159, in accordance with § 4º of the art. 167, all of the Federal Constitution, and other guarantees in law admitted, and the Federal Government may apply for the transfers of resources necessary for coverage of the honoured commitments directly from the centralizing accounts of the fundraising State or federal transfers.

§ 2º Previously to the signing of the contract, the Ministry of Finance will check and attest to the adimation of the Municipality of Rio de Janeiro as to the payments and installment of accounts of which it treats art. 10 of Resolution No. 48, 2007, with the wording given by Resolution No. 41, 2009, both of the Federal Senate, as well as the fulfilment of the preconditions to the first disbursement.

Art. 4º The maximum period 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 1º March of 2012.

Senator JOSÉ SARNEY

President of the Federal Senate