AUTHORIZES THE MUNICIPALITY OF SAN PEDRO TO CONTRACT BORROWINGS UP TO THE SUM OF ° 300,000 FOR THE EXTENSION AND IMPROVEMENT OF THE PUBLIC LIGHTING NETWORK; FOR ITS SERVICE IT ALLOCATES THE RESOURCES IT EXPRESSES For the H. National Congress has given its approval to the following BILL OF LAW: " Article 1º Authorize the Municipality of San Pedro to contract directly with the Bank of the State of Chile or other credit institutions one or more borrowings up to the sum of E ° 300,000, to the current banking interest and with a write-down that extinguishing the debt within a maximum of ten years. Article 2 ° The Bank of the State of Chile and other credit institutions to take the borrowings referred to in the previous article. Article 3 The product of the or the borrowings authorized by this law, will be invested in the extension and improvement of the network of street lighting. Article 4 ° Destination, in order to serve the service of the authorized borrowings, the yield of the tax of one per thousand, comprised in the single rate that taxes the taxable value of the real estate of the commune of San Pedro, Article 2 (e) of the Decree of Finance of 29 July 1965 on Law No 15021. Article 5 ° The performance referred to in the previous article will be invested in the service of the authorized loans, but the Municipality of San Pedro will be able to rotate with it for its direct investment in the works mentioned in the article 3 °, in the case of no contract or loans. It may also allocate to the execution of such works the excess that occurs between those resources and the debt service, if the debt is less than the amount authorized. Article 6 ° In the event that the resources referred to in Article 4 are insufficient for the service of the debt or are not obtained at the appropriate opportunity, the Municipality shall complete the necessary sum with any kind of funds of their ordinary income. If, on the contrary, there is surplus, it will be destined to the new works of local advance that I will remember to realize the Corporation Editicia. Article 7 ° The payment of interest and ordinary and extraordinary debts of the debt will be made through the Autonomous Fund of Depreciation of the Public Debt, for whose effect the Communal Treasury of San Pedro, through the Treasury General of the Republic, shall make timely available to the Fund the funds necessary to cover these payments, without the need for the Mayor's decree if it has not been given in the appropriate opportunity. The Amortisation Fund will pay for the payment of these services according to the rules established by it for the payment of the internal debt. Article 8 ° The Municipality of San Pedro shall deposit in the tax warehouse account "F-26 Borrowings And Bonds Service", the resources that this law provides to the service of the or the borrowings and up to the amount to which the service is allocated by Ordinary interest and amortisation. In addition, the Municipality of San Pedro shall consult in its annual budget, in the item of extraordinary income, the revenue resulting from the hiring of the or the borrowings and, in the departure of extraordinary expenses, the investments planned in accordance with the provisions of Article 3 of this Law. " And because I have had to approve and sanction it; therefore, promulgate and take effect as the law of the Republic. Santiago, October 8, thousand nine hundred and sixty-eight.-EDUARDO FREI MONTALVA.-Edmundo Pérez.