Read the untranslated law here: http://www.asamblea.gob.sv/eparlamento/indice-legislativo/buscador-de-documentos-legislativos/reformase-la-ley-de-presupuesto-en-el-ramo-de-la-comision-ejecutiva-portuaria-autonoma-cepa-para-incorporar-16-503-878/archivo_documento_legislativo
1 Decree No. 389 the Legislative Assembly of the Republic of EL SALVADOR, considering: I.-that by Decree legislative number 126, dated September 14, 2012, published in the official newspaper No. 186, volume no. 397, on 5 October of the same year, was authorized to the Board Directors of the Commission Executive port autonomous, strain, so it could issue securities values secured with future flows the institution perceived, whereas the experience of the entities involved in the matter.
II. According to article 1, third paragraph of Decree No. 126, referred to earlier, establishes that the funds obtained from the securitisation of the assets of strain, should be invested exclusively in the improvement, maintenance and expansion of the infrastructure, equipment and services that requires El Salvador international airport, which is intended to benefit users of airport services both inside and outside of the country, providing safe and efficient services that allow you to compete in the international market and the Central American area; so, in accordance with the framework agreement between the Government of the Republic of El Salvador and the United Nations program for development, UNDP, ratified by the Legislative Assembly Honourable by Legislative Decree N ° 261, of date may 8, 1975, published in the official journal N ° 89, volume no. 247, of the 16th of the same month and year the Commission Executive port autonomous, through the fourth tenth point of the Act 2454, dated October 23, 2012, approved the "programme of modernization and management of the strategic assets of strain", to be implemented with the support of the United Nations programme for development, for an amount of up to % two million two hundred fifty and six thousand six hundred forty and six 26/100 dollars of the United States of AMERICA (US $102,256,646.26) , which was increased to cent three million two hundred forty and six thousand seven hundred thirty-eight 27/100 dollars of the United States of AMERICA (US$ 103,246,738.27) through the second point of the Act 2459, dated November 16, 2012.
III. that pursuant to article 1 already mentioned, first of the same subsection ECA Board of Directors authorized, through the point fourth Act 2476, dated February 1, 2013, carry out securitisation of assets for an amount of seventy and seven million seven hundred thousand dollars of the United States of AMERICA (US $77,700,000.00), of which is turned up to an amount of fifty and eight million two hundred eighty and eight thousand dollars United States of AMERICA ($58,288,000.00) in the first public offering securities on February 18, 2013, of which strain received a net value of fifty and seven million three hundred thousand dollars of the United States of AMERICA ($57,300,000) and the difference by twentieth century eighty and eight thousand dollars of the United States of AMERICA 2 ($988,000), was used to cover the costs of the placement of the securities, and to secure the first payment of transfer monthly to the Titularizadora.
IV.-that due to the funds received by the securitisation of the assets of strain will not be used immediately, the entity has made term deposits amounting to fifty and three million three hundred thousand dollars of the United States of AMERICA (US$ 53,300,000.00) and remunerated current account the amount of four million of dollars of United States of AMERICA (US $4,000,000.00) , according to the terms agreed upon with various financial institutions, will generate returns worth a million eight hundred forty and nine thousand nine hundred fifty dollars of LOS United States of AMERICA (US$ 1,849,950.00) which will be used to fund a portion of the payments of monthly transfers to the Titularizadora, during this year of 2013.
V-to the effect that the Commission Executive Portuaria Autónoma, strain, may have the budget to start the implementation of the "program of development and sustaining air and maritime port of strain", and within this, project 5790 "rehabilitation, modernization and optimization of the El Salvador International Airport", it is necessary to reform the existing budget law, voted by Legislative Decree N ° 182 , dated November 8, 2012, published in the official journal N ° 228, Tome N ° 397, on 5 December of the same year, in the part corresponding to the Comisión Ejecutiva Portuaria Autónoma, strain, incorporating in paragraph 1 income charged to the funding source of own resources, the amount of fifty and eight million two hundred eighty and eight thousand dollars of the United States of AMERICA (US $58,288,000.00) from the securitization of future financial flows and a million eight hundred forty and nine thousand nine hundred fifty dollars of LOS United States of AMERICA (US$ 1,849,950.00) from the performance in time deposits and remunerated current account of such securitization; in the part of the expenditure, and extends the budgetary allocation of the budget 02 service of the debt internal unit, line of work 01 interest, for an amount of two million seven hundred sixty and six thousand three hundred thirty and six dollars of the United States of AMERICA (US$ 2,766,336.00); In addition, joining the 08 program budget units of air development and maritime port of strain, line of work 01 rehabilitation, modernization and optimization of the airport international El Salvador, with an amount of forty million eight hundred sixty and seven thousand seven hundred thirty and six dollars of the United States of AMERICA ($40,867,736.00) and joined the annual program of public investment 2013 and the list of projects of public investment the 5790 project "Rehabilitation, modernization and optimization of the El Salvador International Airport" and the budget unit 09 investment financial, with the line of work 01 airport surplus, for a total of SIXTEEN million five hundred three thousand eight hundred seventy and eight dollars of 3 United States of AMERICA (US$ 16,503,878.00).
POR_TANTO, in use of his constitutional powers and at the initiative of the President of the Republic, by the Minister of finance, DECREES: article 1.-the current budget law, section B budget special, B.2 public companies, in the part corresponding to the autonomous port Executive Committee, introduces the modifications listed below: to) in the Literal B. allocation of resources , Paragraph 1. INCOME, in the category 15 financial revenues and others, is increased specific revenue source 15105 profitability of deadlines in US$ deposits 1,849,950 and item 31 borrowing public, increases the specified income 31199 titles source values different with US$ 58,288,000, as it is broken down below: income flows 15 financial revenues and other 151 yields of securities values 15105 profitability of time deposit... $1,849,950 debt public finance 31 titles 311Colocaciones values in the Market national 31199titulos different values... $58,288,000 values of securities - debt securities financed by the Fund of securitization Hencorp Securities Commission Executive port autonomous 01, registered at the Bolsa de Valores de El Salvador number "VTHVCPA 01".
(((Total... $60,137,950 B) in the literal B allocation of resources, Numeral 4, budget administrative financial, unit budgetary 02 service of it debt internal, increase is it line of work 01 interests, with an amount of $2,766,336, thus: b) allocation budget by category of grouping, source of financing and destination economic 4 unit budgetary and encrypted budget line of work 55 expenses financial and others 02Servicio of the debt internal 2013-4303-5-02-01-21-2Recursos own interests 2,766,336 2,766,336 Total 2,766,336 C) incorporate is in the literal B. allocation of resources, Numeral 6 budget of investment, it unit budgetary 08 program of development and support air and maritime port of strain, line of work 01 rehabilitation, modernization and optimization of the airport international El Salvador, with an amount of $40,867,736, for the execution of the project 5790 "rehabilitation, modernization and optimization of the airport international El Salvador", according to the following detail (: to) relationship purposes with resources allocated budgetary unit and line of work purpose cost 08 program development and sustaining air and sea port of CEPA. 01 rehabilitation, modernization and optimization of the airport international El Salvador ensure it security in them ope rac ions aeronautical and provide services of quality in the different areas of exp lotación, through the operation optimal of them facilities airport and the inclusion of new technologies.
(40,867,736 40,867,736 Total 40,867,736 b) allocation budget by category of grouping, source of funding and destination economic unit budget and encrypted budgetary line of work 54 acquisitions of goods and services 61 investment in Active fixed amount requested
08 program of development and sustaining air and maritime port of CEPA. 2013-4303-7-08-01-22-2Recursos own Drogas ion, modernization and optimization of the airport international El Salvador.
(5,115,686 5,115,686 35,752,050 35,752,050 40,867,736 40,867,736 Total 5,115,686 35,752,050 40,867,736 c) listing of projects of investment public 5 code project source of financing goal physical location geographical date of project completion amount 08 5790 development program llo and air support and maritime port of CEPA. 01 rehabilitation, modernization and optimization of the El Salvador international airport. Rehabilitation, modernization and optimization of the El Salvador international airport.
100% own resources advance San Luis Talpa, peace Dec. ((/ 2013 40,867,736 40,867,736 40,867,736 D) at literal B. resource allocation, paragraph 6, of the investment budget, merge the budgetary unit 09 investment finance, with an amount of $16,503,878, according to the following detail: to) relationship purposes with resources allocated budgetary unit and line of work purpose cost 09 investment financial 01 placement of surplus airport Co locar from balances of the titularizac ion of future income , in time deposit in the financial system, in order to generate profitability.
(16,503,878 16,503,878 Total 16,503,878 b) budgetary allocation by group category, source of funding and budgetary unit economic destiny and encryption budgetary line of work 63 investment financial 09 investment financial resources own placement of surplus airport 16,503,878 2013-4303-7-09-01-22-2 16,503,878 Total 16,503,878 article 2.-the present Decree shall enter into force as from the day of its publication in the official journal.
GIVEN in the blue room of the Legislative Palace: San Salvador, on the thirtieth day of the month of may of the year two thousand thirteen.
OTHON SIGFRIDO REYES MORALES, PRESIDENT.
6 ALBERTO ARMANDO ROMERO RODRÍGUEZ, GUILLERMO ANTONIO GALLEGOS NAVARRETE, SENIOR VICE PRESIDENT. SECOND VICE PRESIDENT.
DURAN JOSE FRANCISCO MERINO LÓPEZ, FRANCISCO ROBERTO LORENZANA, THIRD VICE PRESIDENT. FOURTH VICE PRESIDENT.
ROBERTO JOSE D'AUBUISSON, fifth Vice President.
LORRAINE GUADALUPE PEÑA MENDOZA, CARMEN ELENA CALDERÓN SOL OF STEP, FIRST SECRETARY. SECOND SECRETARY.
SANDRA MARLENE SALGADO GARCÍA, JOSÉ RAFAEL MACHUCA ZELAYA, THIRD SECRETARY. FOURTH SECRETARY.
IRMA PALACIOS LOURDES VASQUEZ, MARGARITA ESCOBAR, FIFTH SECRETARY. SIXTH SECRETARIAT.
FRANCISCO JOSE ZABLAH SAFIE, REYNALDO ANTONIO LOPEZ CARDOZA, SEVENTH SECRETARY. EIGHTH SECRETARY.
House presidential: San Salvador, to the five days of the month of June of the year two thousand thirteen.
PUBLISHED, Carlos Mauricio Funes Cartagena, President of the Republic.
Juan Ramon Carlos Enrique Caceres Chavez, Minister of finance.
D. OR. No. 103 volume no. 399 date: 6 June 2013 FNM/geg 09-07-2013 legislative index
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