It Authorizes The Municipality Of Achao To Hire A Businesswoman For The Sum And Under The Conditions It Provides

Original Language Title: AUTORIZA A LA MUNICIPALIDAD DE ACHAO PARA CONTRATAR UN EMPRESTITO POR LA SUMA Y EN LAS CONDICIONES QUE SEÑALA

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Article 1.o. Authorize the Municipality of Achao to hire a loan that will produce up to 400 thousand pesos ($400,000), at an interest rate not exceeding 7 per cent per annum and with a cumulative amortization, also annually, of 1 per cent. If the borrowings are engaged in bonds, they will be issued via the General Treasury of the Republic and may not be placed at a price lower than 85% of their nominal value.