It Authorizes The Licanten Municipality To Hire A Lender Under The Conditions And For The Amount It Indicates.

Original Language Title: AUTORIZA A LA MUNICIPALIDAD DE LICANTEN PARA CONTRATAR UN PRESTAMO EN LAS CONDICIONES Y POR LA SUMA QUE INDICA.

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" Article 1.o Authorize the Municipality of Licantén to contract directly with the National Savings Fund or other credit institution a loan which will produce up to the sum of $2,500,000, at an interest not exceeding 10% per annum and with an interest rate of Depreciation that extinguishes the debt within the five-year period.
The restrictive provisions of the organic laws and regulations of the institutions that award the loan shall not be governed by the provisions of the provisions of the Act.