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 Rules of Procedure, promulgated the following

R E S O L U Ç Ã ° 48, DE 2013

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 (Bird), worth up to US$ 500,000,000.00 (five hundred million U.S. dollars).

The Federal Senate resolves:

Art. 1º Is the State of Rio de Janeiro authorized to hire external credit operation, with a guarantee from the Union, with the International Bank for Reconstruction and Development (Bird), worth up to US$ 500,000,000.00 (five hundred million dollars northeAmericans).

Single paragraph. The features of this credit operation are intended for budget support to the "Quality Improvement Program and Integration of Urban Mass Transport (Promit)".

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

I-debtor: State of Rio de Janeiro;

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

III- guaranteed: Federative Republic of Brazil;

IV-value: up to US$ 500,000,000.00 (five hundred million U.S. dollars);

V-amortization: in 32 (thirty-two) semiannual and successive installments, the be paid on February 15 and on August 15 of each year, with the forecast that the first one will expire on February 15, 2024, and the last one, on August 15, 2039;

VI-interest: required semester together with the amortizations and calculated based on the Libor semiannual to U.S. dollar, add to a variable margin (spread ) to be determined by Bird to each fiscal year;

VII-commission in sight: up to 0.25% (twenty-five hunduths per cent) on the value of the loan, to be paid up to 60 (sixty) days after the date of the contract's effectiveness, with own resources of the borrower;

VIII-interest of mora: 0.50% a.a. (fifty hundred percent a year), add to the interest due and not yet paid in up to 30 (thirty) days after the target date for your payment.

§ 1º The payment dates of the principal, the financial charges and the forecasted disbursements may be changed depending on the date of signing of the loan agreement.

§ 2º It is permitted to the borrower, already duly authorized by this Resolution, upon formal request from the creditor, observed the minimum deadlines and amounts required in the loan contract, exercise the option of conversion, for a fixed interest rate, of part or of the totality of the debtor balances subject to the interest rate based on the Libor, and vice versa, and of the currency of the amount already disbursed and to disburse to currencies that Bird can finance itself with efficiency, as well as to hire the establishment of ceilings and bands for interest-rate fluctuation.

§ 3º For the exercise of the said option in § 2º, it is the State of Rio de Janeiro authorized to pay a transaction commission to the Bird.

Art. 3º It is the Union authorized to provide guarantee to the State 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 State of Rio de Janeiro celebrates contract with the Union for the granting of against guarantees, in the form of linking the revenues of which they treat the arts. 155, 157 and 159, in the terms of § 4º of the art. 167, all of the Federal Constitution, and of other guarantees in law admitted, and the Federal Government may apply for the transfers of resources necessary for coverage of the commitments honored directly from the centralizing accounts of the State fundraising or federal transfers.

§ 2º Previously to the signing of the contract, the Ministry of Finance will check and attest to the adimplence of the State of Rio de Janeiro as to the payments and benefits of accounts of which it treats art. 10 of the Resolution of the Federal Senate No. 48, 2007.

Art. 4º The maximum period for the exercise of this authorization shall be 540 (five hundred and forty) days, counted from the duration of this Resolution.

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

Federal Senate, on November 26, 2013.

Senator RENAN CALHEIROS

President of the Federal Senate