IT AUTHORIZES THE MUNICIPALITY OF THE VILAS TO CONTRACT LOANS UP TO THE SUM OF EUR 300 000 IN ORDER TO TAKE CARE OF THE LOCAL ADVANCE WORKS IT EXPRESSES; FOR ITS SERVICE IT ALLOCATES THE PERFORMANCE OF THE PARTIAL RATE OF ONE PER YEAR. A THOUSAND ON THE TAXABLE PROPERTY OF THE REAL ESTATE OF THE COMMUNE, ESTABLISHED IN ARTICLE 2 (E) OF THE DECREE OF HACIENDA 2.047, OF 1965 For the H. National Congress has given its approval to the following BILL OF LAW: " Article 1 ° Authorize the Municipality of Los Vilos to contract with the Bank of the State of Chile or other institutions of credit or banking, one or more loans that produce up to three hundred thousand escudos, interest not exceeding the bank current and with a depreciation that extinguishing the doubt within the maximum period of ten years. Article 2 ° The Bank of the State of Chile and other credit institutions to take the borrowings referred to in the preceding article for the purpose of which the provisions of Article 71 ° (2) of Law 11,860 shall not apply. Article 3 ° The product of the or the borrowings will be |! |destined by the Municipality of Los Vilas to the following |! |extraordinary plan of communal advance works: a) Transport to the Directorate of Sanitary Works or other Services, in order to carry out the construction of the sewer collector in Avenida Caupolican de Los Vilos ____________________________ E ° 155,000 b) Transport to the Directorate of Pavement Urban or other services, in order for these repartitions to carry out works aimed at urban improvement of the populations of the commune, be it by paving of sidewalks, driveways, installation of drinking water and electric lighting. These works will be done according to the investment plan that will be made by the Municipality ____________________ 95,000 c) Export to the Professional Union of the Fishermen of the Vilas, so that it, in itself or by other Services, will execute the Construction of a galpon intended to save vessels and fishing implements in the Caleta of Los Vilos ________________________ 10,000 d) For Municipal Sports Field ________________________ 5,000 e) Construction of the Municipal Market of Los Angeles Vílos ___________ 10,000 f) Canalization and vaulting of 250 metres from the village canal Quilimari, sector Independence Street ____________________ 20,000 g) Enablement Spa The Vilas ________________________ 5,000 _____________ TOTAL _____________________ E ° 300,000 == == == == == == = Article 4 ° Destination, in order to attend to the (a) the performance of the partial rate of one per thousand authorized, the taxable amount of the real estate of the commune of Los Vilas, as laid down in Article 2 (e) of the Decree of the Treasury of 29 July 2000, July 1965, Law 15,021. Article 5 ° If the resources referred to in the previous article are insufficient for the service of the debt or are not obtained at the appropriate opportunity, the Municipality of Los Vilos will complete the necessary sums with any kind of funds of their ordinary income, with the exception of sums intended for salaries or remuneration of any kind of employees and municipal workers. If, on the other hand, there is surplus, this, without the need for a new legal authorization, will be allocated to the works of common progress which it will agree on in an extraordinary session, especially with the assent of two thirds of the (in the case of: Article 6 The Municipality of Los Vilos, in particular special session and with the assent of two thirds of the Regents in exercise, may agree to the investment of the funds left over from one of the planned works, to increase the item consulted for one if it is insufficient for its total execution with funds from the others or to alter the order of precedence in the relationship in the performance of the works. Article 7 ° In the case of non-contracting of the borrowings, the Municipality of Los Vilas may be able to rotate from the performance of the tax referred to in Article 4 ° for direct investment in the works referred to in Article 3. It may also allocate to the execution of the aforementioned works the surplus that occurs between those resources and the service of the debt, in the event that the loan was contracted in a lower amount than the authorized one. Article 8 ° The payment of interest and ordinary and extraordinary write-downs of the debt will be made through the Autonomous Fund of Depreciation of Public Debt, for which the Communal Treasury of Los Vilos through the Treasury General de la República, shall make the necessary funds to cover these payments in good time, without the need for a decree from the Mayor if the latter has not been given the opportunity. The Autonomous Fund of Depreciation will pay for the payment of these services according to the rules established by it for the payment of internal debt. Article 9 ° The Municipality of Los Vilos will deposit in the tax deposit account "F-26 Borrowings And Bonds" the resources to which the service will be allocated by interest and ordinary redemptions. In addition, the Municipality mentioned above shall consult in their respective annual budgets, in the item of extraordinary income, the resources to be used by the contracting authorities, and, in the case of extraordinary expenditure, 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, twenty-seven of September of a thousand nine hundred and sixty-eight.-EDUARDO FREI MONTALVA.-Edmundo Pérez.