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United States Senate Resolution No. 31, 03 September 2014

Original Language Title: Resolução do Senado Federal nº 31, de 03 de setembro de 2014

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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. 31, OF 2014

Authorizes the State of Amazonas to hire external credit operation, with guarantee from the Federative Republic of Brazil, with the International Bank for Reconstruction and Development (Bird), in the value of up to US$ 216,000,000.00 (two hundred and sixteen million U.S. dollars).

The Senate Federal resolves:

Art. 1º It is the State of Amazonas authorized to hire external credit operation, with guarantee of the Federative Republic of Brazil, with the International Bank for Reconstruction and Development (Bird), worth up to US$ 216,000,000.00 (two hundred and sixteen million U.S. dollars).

Single paragraph. The proceeds of the operation are intended for the "Fiscal Balance Consolidation Program for the Improvement of the Prestation of Public Services of the State of Amazonas-Proconfis".

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

I-debtor: State of Amazonas;

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

III-guarantor: Federative Republic of Brazil;

IV-value: up to US$ 216,000,000.00 (two hundred and sixteen million U.S. dollars);

V-modality: variable margin;

VI-disbursement: 2014;

VII-amortization: 40 (forty) semestral benefits, consecutive and, to the extent possible, equal, winning the first on September 15, 2019 and the last one on March 15 of 2039, in the terms of the amortization calendar;

VIII-interest: while no conversion has been effective, the interest will be calculated on the daily debtor balances based on reference rate, initially the Liborrate, increased from a variable spread;

IX-conversion: the borrower will be able to request the conversion of the reference currency from this operation to another that the creditor you can finance yourself with efficiency, for the amount already disbursed and to disburse; the conversion of the floating interest rate to fixed or vice versa, for the total or partial amount of the loan; or the establishment of ceilings and bands for the fluctuation of the interest rate, occasion on which it will be charged transaction commission;

X-commission at view: 0.25% (twenty-five hundred percent) on the value of the loan, to be paid 60 (sixty) days after the date of the contract's effectiveness, with own resources of the borrower.

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 Federative Republic of Brazil authorized to provide assurance to the State of Amazonas in the external credit operation referred to in this Resolution.

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

I-to the conclusion of contract of granting of countermeasures between the State of Amazonas 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 of Amazonas with the Union and its controlled entities; and

III-ao compliance with the preconditions to the first disbursement.

Art. 4º The maximum period for the exercise of this authorisation is 540 (five hundred and forty) days, counted from its publication.

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

Federal Senate, on September 3, 2014

Senator RENAN CALHEIROS

President of the Federal Senate