Authorizes The Municipality Of The Condes To Contract Directly With The Bank Of The State' S State Of Chile Or Other Credit Institutions One Or More Business Enterprises That Produce Up To The Amount Of $32,000,000

Original Language Title: AUTORIZA A LA MUNICIPALIDAD DE LAS CONDES PARA CONTRATAR DIRECTAMENTE CON EL BANCO DEL ESTADO DE CHILE U OTRAS INSTITUCIONES DE CREDITO UNO O MAS EMPRESTITOS QUE PRODUZCAN HASTA LA CANTIDAD DE $ 32.000.000

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" Article 1.-Authorize the Municipality of Las Condes to contract directly with the Bank of the State of Chile, with other credit institutions or individuals, one or more borrowings that produce up to the amount of thirty million and two million dollars pesos ($32,000,000), interest not exceeding 10% per annum and an amortization extinguishing of the debt within the maximum five years.
Authorize the Bank of the State of Chile or other credit institutions to take the loan or loans referred to in the preceding subparagraph, for the purpose of which the restrictive provisions of its organic laws or regulations shall not be governed by the provisions of the provisions of the Act.