The Order In Which Ministries And Other Central Government Institutions Include The Annual State Budget Bill On A Government Loan Requests, And State Lending And Servicing Arrangements

Original Language Title: Kārtība, kādā ministrijas un citas centrālās valsts iestādes iekļauj gadskārtējā valsts budžeta likumprojektā valsts aizdevumu pieprasījumus, un valsts aizdevumu izsniegšanas un apkalpošanas kārtība

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Read the untranslated law here: https://www.vestnesis.lv/op/2015/130.1


Cabinet of Ministers Regulations No. 363, Riga, 30 June 2015 (pr. No. 30) order in which ministries and other Central Government institutions include the annual State budget bill on a Government loan requests, and State lending and service order Issued in accordance with the law on budget and financial vadību 19.2 article and article 36 the fourth part i. General question 1. determines the order in which the ministries and other Central Government institutions (hereinafter the Ministry) for their institutional subordinated state loan applicants submit Treasury planned state loan requests to the medium-term for inclusion in the annual State budget bill and the national lending and servicing procedures. II. The State loan of medium-term demand into the annual State budget bill 2. To apply for the loan, the loan applicants, which is a scientific Institute or University that has a particular derived public person (hereinafter referred to as the scientific authority), or a corporation in which the State or a municipality part individually or in total share capital exceeds 50%, or more to the municipal corporation, which formed part of the municipal total of more than 65% of the issued share capital (hereinafter the Corporation) whether the port authority within the time limit set by the Ministry together with the following documents: application for a Government loan. The application shall state the purpose of the loan or investment project name, state the amount and currency of the loan, planned state loan repayment period; 2.2. development plan, which contains information about the project, which is expected to use the loan. The development plan includes other project alternatives assessment and justification that the loan is non-rational support instrument for the implementation of the project; 2.3. information on planned state loan guarantees. 3. The Ministry shall evaluate the submitted state loan request compliance with planning documents for the development of priorities and objectives and draw up a national loan applicants eligible projects list, sorted in priority order, the implementation of projects and programmes of public support for the planned national loan listing and this provision in paragraph 5 shall be submitted within the time limit set in the Treasury. 4. If the implementation of the project, which is planned for the Government loan, did not meet the development programming documents the priorities and objectives of the project the Ministry is not included in the supported national loan in the list of applicants and 10 working days written notice to the State loan to the applicant about the refusal, stating the reasons for the refusal. 5. Two weeks before the deadline that the medium-term budgetary framework and annual draft State budget bill provides for the preparation of the schedule of the State Department budget request for the preparation and submission to the Ministry of finance, the Ministry submitted to the Treasury in the Ministry of information for monitoring existing investment projects, programs or State aid by the European Union and other foreign financial assistance co-financed projects, the implementation of which is necessary to attract financial resources in the form of State loans for the total cost of the required loan amount and duration. 6. Country specific budget requests submitted to State loans the Finance Ministry under the laws and regulations on the maximum levels of public spending and the total maximum permissible national budget expenditure the total amount for each Ministry and other central public authorities the detection methodology for medium term. 7. Municipal borrowing total allowable increase medium-term budget framework in the Bill and the annual State budget bill establishes the Ministry of finance. 8. Within the medium-term budgetary framework and annual draft State budget bill provides for the preparation of the schedule of the State Department budget request for the preparation and submission to the Ministry of finance, the Treasury after this rule 3 and 5 point of receipt of the information referred to draw up and submit to the Ministry of finance information for: 8.1. national obligations under the level of the previous years, the State concluded loan contracts; 8.2. the planned national loans this provision referred to in paragraph 3, the supported project and the planned State aid for the implementation of the programme; 8.3. the planned state loan repayment. 9. Ministry of finance medium-term budgetary framework and the draft annual budget of the country in the process of drafting the Bill establishing the State loan the total maximum amount of increase for inclusion in the annual State budget bill. III. National lending and local government loan terms change 10. Government loan the municipality Treasury shall be issued in accordance with the municipal loan and guarantee control and monitoring the Council's decision or order of the Minister of finance for the country granting of loans to local government. 11. Minister of finance authorizes the Treasury to close the country's loan agreement with the authorities of the State issuing and servicing of the loan. 12. the national conditions of the loan before the loan contract concluded, Treasury coordinated with the local government. 13. the national loan terms can be changed based on local government borrowing and guarantee the control and monitoring of the decision or order of the Minister of finance, or local application in writing with a request to clarify the State of the loan amount actually used appropriately and repaid the loan, including the amount of the loan repayment schedule or state loan repayment schedule in the current budget year, up to the order of the Minister of finance or the municipal loan and guarantee the control and monitoring of the decision of the Council of State of the loan amount as well as a written application for municipal government loan interest rate change, which added to the Municipal Council's decision. 14. The Treasury within 10 working days after this provision in paragraph 13 of document receipt prepare agreement on changes in the loan contract or letter with the refusal to amend the loan agreement, stating the reasons for the refusal. 15. the State loan interest rate takes place according to the rules of the procedures laid down in chapter VI. IV. Loan service of State special budget for performers and public loan 16. changing the conditions for short-term loan financial management or long-term government loan the State social insurance special budget (hereinafter referred to as the special budget) to cover national specific budget performer submit Treasury loan request indicating the purpose of the loan and the loan amount, the applicable state loan interest rate type (fixed , variable), a planned state loan repayment period and schedule. The loan requires you to add in the Ministry's opinion on the need for federal loans. 17. The State Treasury shall deliver an opinion within five working days after 16 of these regulations. the information referred to in paragraph 1. Documents together with the opinion of the Minister of finance in the attached draft decision, submitted to finance ministers for a decision. 18. If the Minister of Finance shall decide to refuse the granting of loans, the State Treasury within five working days after receipt of the decision of the Minister of Finance shall forward the decision to the Minister of finance in the budget of State Special Executive for information. 19. If the Minister of Finance shall decide on the issuance of State loans, the Treasury before the loan agreement under the terms of the loan through the State budget, special performers. 20. Minister of finance authorizes the Treasury to close the loan contract with the country's special budget for state loan of performers and service. 21. in order to change the conditions of the loan and the Government loan modification of the contract, the State shall provide special budget performer Treasury: 21.1. application, which contains the state change of the conditions of the loan need justification; 21.2. clarify State loan repayment schedule if changes to the country's loan agreement linked to the change of State loan repayment schedule; 21.3. the opinion of the Ministry for national loan exchange of conditions need and usefulness. 22. The State Treasury shall deliver an opinion within 10 working days after this provision paragraph 21 of the document referred to in the receipt. Documents together with the opinion of the Minister of finance in the attached draft decision, submitted to finance ministers for a decision. 23. If the Minister of Finance shall decide to refuse the loan condition, the Treasury within five working days after receipt of the decision of the Minister of Finance shall forward the decision to the Minister of finance in the budget of State special artist. 24. If the Minister of Finance shall decide on the terms of the loan, the State Treasury within five working days after receipt of the decision of the Minister of Finance shall prepare agreement on changes in the loan contract. V. national loan service Corporation, where part of the share capital or municipality individually or in total and more than 50%, the municipality formed a corporation with share capital the total of municipal part exceeds 65%, port authorities, as well as those scientific institutes and universities that has a particular derived public person status, and the Government loan terms change 25. Scientific institution, Corporation or port authority (hereinafter borrower) at the latest by 15 November of the current year shall be submitted to the Treasury that rule 26. documents listed the loan. 26. in order to receive the loan, the borrower shall submit the loan request, indicating the State aid programme or project name, project objectives, the loan amount (including the planned national loan terms and the removal of the scale), the loan interest rates applicable to type (fixed or variable). The request shall be accompanied by the following documents: 26.1. operational balance sheet, profit and loss statement (scientific institutions – overview of financial performance) and the cash flow statement (hereinafter referred to as the core financial statements) for the period from the last closed accounting year to the last month closed; 26.2. sworn auditors (if required by law) or to the Auditor (if required by the statute or decision of the meeting of members) verify annual accounts, if they are not already submitted to the sectoral ministries, Central and local public authorities budget report information system (eCompany report): 26.2.1. of all the transaction period, if economic activity lasts less than three years; 26.2.2. for the last three years of economic activity, if economic activity lasting more than three years; 26.3. the development plan or business plan (hereinafter referred to as the development plan) for a period of not less than the planned state loan repayment deadline, the development plan, the following information: 26.3.1. Summary of the project, which prompted the public behind the contribution-short description of the borrower (including the main activities, organizational structure), industry analysis, market and competitor research main conclusions, the reasons for the investment required, the aim of the project, project costs and the necessary funding summary; 26.3.2. market and competitors overview; 26.3.3. sector analysis; 26.3.4. investment required; 26.3.5. deadlines for the implementation of the project, the cost of the necessary funding and funding sources, the planned national loan, payback period (number of years required for full compensation of the cost of the investment) assessment, the project benefits and sensitivity analysis (assessment of the main impact of the changes on the assumption of the financial forecasts); 26.3.6. projected financial forecasts on the borrower's overall operation (including projects), as well as justifications and the assumptions used in the forecasts. The planned financial estimates shall also be submitted electronically to Microsoft Office Excel or equivalent format, which provides the formula used in the calculation. The planned financial estimates: 26.3.6.1. Corporation and the port authority shall comprise the balance sheet, income statement and cash flow statement, drawn up in accordance with the annual accounts the statutory schemes and covers the period of the country's loan application to the loan repayment deadline; 26.3.6.2. the scientific body includes the balance sheet, the statement of financial performance, and cash flow statement, drawn up in accordance with the laws and regulations on the procedures for the authorities of the budget, the State budget financed partly derived public persons and not financed by the budget authority shall prepare and submit an annual report, covering the period from the State and the loan application to the loan repayment deadline; 26.3.7. business risks, risk assessment and risk analysis (including an assessment of the financial and operational risks, technological risks, market risks and competition and specific industry risks (if any are identified), as well as an assessment of potential legislative amendments that could have a material impact on the progress of the implementation of the project or the borrower's activity); 26.4. the planned national loan principal repayment schedule; 26.5. information about government loan guarantee: If the estimated national 26.5.1. loan collateral is a mortgage or pledge, a certified appraiser's estimate that the loan at the date of the request are not older than six months and that is real property or movable property to calculate the quick realization value and the market value of the sales period to 12 months. If the assessment is not available, submit to: assessment of 26.5.1.1. for real estate, which is expected to be built using the loan to calculate the quick realization value and the market value realization period of up to 12 months after commissioning (must submit the equivalent of real estate assessment); 26.5.1.2. assessment of immovable property intended to be purchased using the loan to calculate the quick realization value and the market value of the sales period to 12 months (equivalent to real property must be submitted for assessment); 26.5.2. If the expected loan coverage is local or more municipalities provided guarantee for those debt obligations of the Corporation of the municipality of borne, proof of compliance with the business support Control Act specified in article 4 of the law; 26.5.3. information about other security; 16.5. except for the provisions in the case referred to in paragraph 27, the joint sworn auditors and in-depth expert (with experience in evaluating business plan) of the opinion, based on this rule 26.3. development plan referred to in point: for the borrower 26.6.1. financial position and ability to repay the loan, and prepared in accordance with international standards of proof tasks; 26.6.2. for the assessment of the development plan, which includes the following information: 26.6.2.1. the development plan for quality analysis, giving the opinion or the development plan gives a clear picture of the borrower's business activity and its project plans, which is a loan taken; 26.6.2.2. financial analysis and information about the borrower's financial situation, the effect on the borrower's business operations, the ability to realize the project and the ability to generate sufficient cash flow to repay the loan; 26.6.2.3. the presumption of validity and reliability assessment on the basis of which the development plan has been drawn up, including the assessment of the risk analysis, market and competitors overview, industry analysis, the required investment, planned income and expenditure of reasonableness; 26.6.2.4. analysis of other factors which, in the judgment of the experts is essential to the project or to the borrower and may affect the borrower's ability to repay the loan; 16.6. receive information on the common and the planned State aid (any public resource attraction, including State and local government guarantees for credit loans), the amount of the aid and the aid intensity (%) for the implementation of the project and of the project the responsible Ministry of information on the allowable amount of State aid pursuant to annex 1 of these rules; 16.7. the responsible Ministry or local: proof if national 26.8.1. the loan is for a service of general economic interest to ensure the provision, according to annex 2 of these regulations, and the agreement or a copy of the decision, which imposed on the obligation to provide a service of general economic interest; 26.8.2. opinion on the conformity of the project development planning documents and information on external risks, including legislative amendments, which could have a material impact on project implementation, industry policy and competitive risks; 26.8.3. proof that the provision is consistent with the Ministry and from the point of view of the development of the sector is supported, if the loan is secured by a mortgage, pledge or other security; 26.9. If a planned project, in which economic activity and support the implementation of all business control law criteria referred to in article 5, with the exception of services of general economic interest, the project-credit rating assessment issued, comparable to the international credit rating agency Moody's Investors Service "'", "Standard Poor's" or "& ' Fitch Ratings ' long-term deposits laid down in the ratings, or the borrower's statement that such a rating assessment is not possible to submit (including reasons); 26.10. information from the Latvian Bank credit registry on the borrower (the information must be issued no earlier than five working days before the loan application submission). 27. If the expected loan coverage is local or more local government provides guarantee 100%, 16.5. these provisions referred to in the auditor's opinion the jury not be given. 28. The Treasury within 15 working days after the rules referred to in paragraph 26 of document receipt shall assess the information they contain and, if the information is sufficient to give an opinion. Documents together with the opinion of the attached draft decision of the Minister of finance, submit to the Minister for a decision. 29. If the borrower the information supplied is insufficient or incomplete, the Treasury requests additional documents or information that is related to the borrower's economic or financial activity and may affect the country's repayment of the loan. 30. The Treasury within 15 working days evaluate these rules referred to in paragraph 29 the information contained in the documents and give an opinion. Documents together with the opinion of the Minister of finance in the attached draft decision, submitted to finance ministers for a decision. 31. If the Minister of Finance shall decide to refuse the granting of loans, the State Treasury within five working days after receipt of the decision of the Minister of Finance shall forward the decision to the Minister of finance to the borrower. 32. the decision of the Minister of finance for the State of the grant of the loan if the borrower shall be adopted according to the provisions of annex 3 qualifies as a difficulty, except where it is provided, or the rescue or restructuring of the temporary restructuring aid pursuant to the legislation of the European Union in the field of business support. 33. the Minister of finance decision on refusal of granting State loans may be accepted if: 33.1. is set in an elevated state loan repayment risk according to these regulations, paragraph 34; 33.2. does not provide sufficient security for the loan; 33.3. in submitting a project application to the institution of cooperation, as a source of funding has been provided for the loan; 20.8. is found in other significant circumstances that raise doubts about the borrower's ability to make loan repayments. 34. Increased country risk of repayment of the loan if the borrower is determined according to the provisions of 3. the attachment qualifies as a difficulty or if borrower under this provision in paragraph 26.9. the information received is a certain rating B1 or lower according to the international rating agency "Moody's Investors Service" methodology or B + or lower according to Standard Poor's & "or" Fitch Ratings "methodology or if pursuing at least three of the following conditions: 34.1. economic activity lasts less than three years (the conclusion of three full financial year); 21.3. the proportion of equity capital in the balance sheet is equal to or less than 25% (used to calculate the annual report for the last financial year and concluded the operational financial statement); 21.3. the balance sheet item "previous years retained earnings" reflect losses that exceed 50% of the share capital (for the calculation of the annual accounts for the last financial year closed); 21.4. the last three reporting years 26.2.1. these rules or, in the case referred to in subparagraph closed the reporting year average return is negative (used to calculate the annual report); 34.5. the last three reporting years 26.2.1. these rules or, in the case referred to in subparagraph closed the reporting year liquidity ratio (the ratio in respect of current assets current liabilities, excluding deferred revenue) in one of the reference year is equal to or less than 0.7 (used to calculate the annual report); 21.5. If the borrower is a corporation or the port authority, the service factor (profit or loss before interest, taxes, depreciation of intangible investments, fixed assets and long-term financial investments depreciation deductions for payments of obligations for all, including the principal, the interest payable under the contracts (loans, leasing, guarantees issued and other contracts, from which it is clear commitments)) is equal to or less than 1.3 (used to calculate the annual report for the last reporting year concluded); 21.6. the payments are delayed for more than 60 days (according to this provision, the information referred to in paragraph 26.10 or treasury information held on the borrower's credit history); 21.6. the estimated business risk is high. 35. business risk assessed, taking into account: 21.8. calculations used the presumption of reliability, predictive indicators, planned ownership structure and management experience; 35.2. the information provided by the Ministry for external project risks, including legislation, industry policy and competitive risks; 35.3. other project-specific risks. 36. If the planned national loan is classified as commercial support, according to the Ministry's commercial support Control Act shall be submitted by the Ministry of finance planned individual business support project for initial evaluation and, if necessary, for submission to the European Commission for a decision on the compatibility of State loans to the Treaty on the functioning of the European Union. 37. The European Commission has adopted a decision on the compatibility of the planned aid to the Treaty on the functioning of the European Union, the Ministry submitted to the Treasury. 38. If the Minister of Finance shall decide on the allocation of State loans, the Treasury sent the Minister of finance decision to the borrower and before the loan agreement under the terms of the loan to the borrower. 39. the Minister of finance authorizes the Treasury to close the country's loan agreement with the borrower and the corresponding national security or guarantee of the loan agreements. 40. in order to change the country's loan agreement conditions, the borrower shall submit to the Treasury application, indicating what state the loan contract requires changed and what is the reason for the change in these conditions, as well as the following additional information: 24.9. to extend the national time limits for payment of the loan principal, if needed, specifying the loan repayment schedule, but does not extend to the national loan principal repayment deadline: 40.1.1. information on the implementation of the project; 40.1.2. proof that the conditions of the contract does not give rise to significant changes in the previously submitted development plans and financial forecasts, or an updated development plan according to this provision, if paragraph 26.3 changes are essential; 40.1.3. Ministry or local opinion on the country's loan disbursement date to exchange the need and usefulness; 40.2. to clarify the State of the loan amount, the additional information is to be provided in the following cases: If you specified a country 40.2.1. loan amount under the loan actually used around without changing the State loan principal repayment deadline; 40.2.2. If, according to the State repaid the loan principal repayment schedule payment dates are set in proportion to the reduced scheduled principal payment; 40.2.3. If, according to the State repaid the loan principal repayment is shortened deadline without changing the principal repayment schedule of payments set out in scale; 40.3. the modification of the national loan principal repayment schedule, except that rule 40.2. as provided in paragraph, submit the following information: 40.3.1. information on the implementation of the project; 40.3.2. updated development plan according to this rule 26.3.; 40.3.3. sworn auditor's opinion, given on the basis of this provision 40.3.2. updated referred to a development plan under this rule 26.3. the requirements laid down in point, except for this provision, paragraph 27; 40.3.4. clarify State loan principal repayment schedule; 40.3.5. If the loan is secured by a municipal or local Government to provide more security, local government borrowing and guarantees – the control and monitoring of the Council, which supported the local government or local government decision on changes in the conditions of the guarantee provided for those debt obligations assume a corporation; 40.3.6. the Ministry's opinion on the conditions of the federal loans the need and usefulness of Exchange; 40.3.7. at the request of the Treasury-certified evaluator's quick realization value and the market value of the real estate property or to movable property that is not older than six months, if the loan secured by a mortgage or pledge; 40.3.8. If a State loan to qualify as commercial support, for which the European Commission has adopted a positive decision, the Ministry of information on whether you need commercial support agreement with the European Commission; 25.1. to make the loan interest rate, according to the rules in paragraph 52, the additional information is to be provided; 25.2. the borrower's application to modification of the risk set the interest rate, the borrower shall submit: 40.5.1. information on the implementation of the project; 40.5.2. proof that the borrower's development plan forecast assumptions to consider and that actual financial results are not significantly different from the development plan foreseen or are better than was projected, or an updated development plan according to this rule 26.3.; 40.5.3. If you filed updated development plan, the sworn auditor's opinion, prepared in accordance with the provisions referred to in subparagraph 16.3. requirements and, based on this rule 40.5.2. updated referred to the development plan, except that rule 27. defined in point; 40.5.4. at the request of the Treasury-certified evaluator's quick realization value and the market value of real property, or for real property that is not older than six months, if the loan secured by a mortgage or pledge; 40.5.5. If a State loan to qualify as commercial support, for which the European Commission has adopted a positive decision, the Ministry of information on whether you need commercial support agreement with the European Commission; 40.6. If you need to make other amendments to the loan contract or after planned national loan agreement amendments to the expected changes in the State aid equivalent, the Treasury is considering whether the decision requires additional information and, if necessary, please submit all this rule 26, paragraph information and documents or parts of them. 41. regarding the national security of the loan agreement, the borrower shall submit the application to the State coffers, the State loan guarantee contract conditions change, and at the request of the Treasury shall provide information about the Government loan guarantee under this provision, as well as paragraph 26.5 some or all information (according to this provision, 26. the point) that is associated with the borrower's economic or financial activity and may affect the country's repayment of the loan or the national equivalent of the aid. 42. The Treasury within 15 working days evaluate this rule 41, paragraph 40 or documents referred to in the information provided, as well as other documents or information that is related to the borrower's economic or financial activity and may affect the country's repayment of the loan. 43. If the borrower the information supplied is insufficient or incomplete, the Treasury requests additional information or documents, including individual commercial support, updated the project's initial assessment or a decision of the European Commission. The following documents must be submitted to Treasury within 20 working days of receipt of the request. 44. The Treasury within 15 working days evaluate this rule 43 in the documents referred to in the information provided and shall provide the opinion. Documents together with the opinion of the Minister of finance in the attached draft decision, submitted to finance ministers for a decision. 45. If the Minister of Finance shall decide to refuse the loan contract conditions or Government loan collateral agreement, the Treasury within five working days after receipt of the decision of the Minister of Finance shall forward the decision to the Minister of finance to the borrower. 46. the Minister of finance authorizes the Treasury to conclude an agreement with the borrower about the amendments to the loan and the Government loan guarantee or surety agreements. Vi. State the interest rate of the loan and the loan's interest rate risk and exchange procedures 47. Granted, but not yet repaid the Government loan the municipality, State special budget performer, Corporation, scientific authority and the port authority pays the State loan interest rate of the loan laid down in the Treaty. 48. the State loan interest rate is determined as follows: 48.1. the loan interest rate of the State loans in euro: 48.1.1. If the Republic of Latvia attracted financial resources financial and capital market, the loan interest rate is determined for one month, the loan interest rate you set the duration to the current week Sunday (inclusive); 48.1.2. If one calendar month from the rules of procedure referred to in subparagraph 48.1.1. in state loan interest rate determination date, there has been no financial resources attraction euro or a foreign currency and made it to the euro, the swap, the loan interest rate is determined using the indicative rate, and the quotations recorded on one calendar week; 48.1.3. If the loan interest rate is determined using the indicative quotations rate times the corresponding 1.30 last existing state loan interest rate, then the substitution reference rate is calculated, the last existing state loan interest rate multiplied by a factor of 1.30 and rounded to three decimal places; 48.1.4. If this provision, or 48.1.3 48.1.1.48.1.2.. in point in the loan interest rate is negative, the loan interest rate is determined by the value zero; 48.2. the national loans issued from the international financial institutions or other Governments (granting loans) loans to finance certain loans granting of approved projects, the loan interest rate determined in accordance with the concluded loan agreements between the Republic of Latvia and the international financial institutions or Governments of other countries. 49. The State loan for the project, in which economic activity and support the implementation of all business control law criteria referred to in article 5, with the exception of services of general economic interest in a project to turn a commercial support, this rule 48.1. the rates laid down in (c) and paragraph 70 service fee set in place: 30.5. one of the following base rates: 49.1.1. the European Commission specific period fixed base rate loan currency , which published the European Commission's DG competition tīmekļvietn http://ec.europa.eu/competition/state_aid/section of URreference_rates.html or tīmekļvietn in the legislation/replacing it; 49.1.2. If the European Commission has adopted a decision on the amount of the applicable base rate of the European Commission's decision establishes base rates; 30.6. the European Commission base rates apply provided that they are not lower than the 48.1. these provisions the rates laid down in these provisions and in particular in paragraph 70 service fee amount. 50. the interest rate on the date of approval of the interest rates published the Treasury Web site at http://www.kase.gov.lv/. 51. the State loan the interest rate is fixed in the loan contract concluded, in the light of this provision, paragraph 48 and 49 fixed loan interest rate. 52. at the local, country specific budget artist, corporations, scientific institutions or port authority of the receipt of the written application the Treasury may review the loan interest rate in accordance with the following provisions: 52.1. the State loan issued by the applicable interest rate change takes place more frequently than once in a calendar year, starting with the second issue in the country's loan agreement years of operation if the difference between the above loan interest rate and the rate that applies to the State budget loans served the relevant currency is higher than one percent and the remaining period up to the end of the loan repayment period exceeding two years; 52.2. the State issued the loan once a State loan for the duration of the contract may change state loan interest rate fixation period, subject to this provision, paragraph 48 and 49 above. 53. when implementing the provisions of the conditions referred to in paragraph 52, the Treasury concluded an agreement on the loan's interest rate. If the conditions are not fulfilled, the State Treasury within five working days of informing you that the loan interest rate is not possible. 54. If the project is implemented, in which economic activity and not implementing any of the business support Control Act referred to in article 5 of the criteria or a service of general economic interest, the project received a Government loan the borrower pay a risk-interest rate not exceeding 5%, taking into account the following criteria: 54.1. the State loan collateral; 54.2. legal status; 54.3.; 54.4. profitability; 54.5. liquidity; 54.6. business risks; 54.7. rating, if one is filed; 54.8. credit history. 55. If the borrower's interest rate risk is not appropriate according to these regulations, paragraph 54, the borrower pays the interest rate risk to which the percentage is based on the borrower's rating issued by the credit institution's assessment and proposed facilities pursuant to this provision set out in annex 4, or in accordance with decisions of the European Commission. 56. If the municipality has requested State aid project in which economic activity and support the implementation of all the business control law criteria referred to in article 5, the municipality received the loan pays interest rate risk according to annex 4, these provisions set out in the application of the Republic of Latvia's credit rating and high security assessment, or in accordance with a decision of the European Commission. 57. the interest rate Risk may be increased, if the State has decreased loan collateral, borrower's financial performance deteriorated or reduced a borrower's credit rating. 58. After receipt of the written application the borrowers Finance Minister once during the financial year may be revised down the interest rate risk, if this rule 25.2. documents referred to and reviewed risk interest rate is lower than the previously applicable interest rate risk. 59. the Risk of interest rate changes in borrower risk interest rate payable under the Treasury received notice. The risk of interest rate changes are not amended the loan agreement in the country. 60. If the risk of interest rate is set according to the relevant requirements of the European Commission on the applicable risk interest rate risk the interest rate changes, for evaluation and, if necessary, procedural actions appropriate business support Control Act. 61. interest rate Risk: 61.1. Corporation, if provided or more local authorities to guarantee, according to their number of shares share capital concerned, 100% of the loan; 61.2. municipality, except that rule 56 of the cases referred to in paragraph. VII. the issue of the State loans general conditions 62. maximum loan repayment term is 30 years out of the national day of the conclusion of the loan agreement. 63. the maximum feasible development of design documentation for state loan repayment term is five years from the national day of the conclusion of the loan agreement. 64. the maximum local autonomous function requires the purchase of road transport in the State loan repayment term is seven years of the loan agreement. 65. the State loan principal deferred payment period shall not exceed three years from the national day of the conclusion of the loan agreement. 66. the State loan cost the State Treasury shall be limited to local governments, the State special budget artist, corporations, scientific institutions or port authority Treasury account opened after the receipt of a written request, specifying the loan amount, the State meets the cost of supporting documents. 67. If the municipality, capital of the society, the scientific authority or port authority State loans used in the rest of the European Union or foreign financial assistance, the financial instrument of the climate change and emissions of izsolīšan instrument for the pre-financing of projects co-financed it within five working days after the receipt of the funds repaid the loan portion of the funding received. After the loan repayment of part of the municipality, the Corporation, scientific authority or port authority approached the Treasury with the application for the loan repayment schedule. 68. the State loan contract period the borrower who is a real estate mortgage or pledge, provides mortgage insurance market of the subject or restore value and the person claims for the cost of the subject of the pledge in the event of the loss or damage, noted the Ministry of finance. 69. the State loan for the duration of the contract the municipality, the Corporation, scientific authority or port authority is responsible for the implementation of the project and the public use of the loan according to the objective of the project. 70. the State loan granted service municipality, the Corporation, scientific authority or port authority pays a service charge in accordance with the statutory fees treasury services price list. VIII. National loan servicing and monitoring 71. State loan contract period the borrower shall submit to the Treasury: 71.1. once a year until July 1 (starting with the second year until the loan for full amount)-certified auditor's opinion on the use of the loan according to the purpose of the loan; 71.2. each year by 30 April or July 31 in accordance with the laws and regulations on annual accounts-sworn auditor test the previous year's report; 71.3. each year, before 30 April, July 31, October 31 and January 31 – balance sheet, profit and loss statement (scientific institutions shall submit an overview of financial performance), and cash flow statement for the three, six, nine or twelve months; 71.4. If on State loan guarantees serve the borrower owned assets once a year to 31 January, the fixed assets list, which contains the value of the fixed assets balance at 31 December and noted those assets that are leased, rented or passed to the use third parties (including the lease, rental or usage terms); 71.5.45 days after the request of the Treasury, but not more than once a calendar year-certified evaluator, an updated national loan guarantee quick sales values and market values; 71.6. information about any person in Court brought a claim against the borrower for the breach, which significantly affects the borrower's obligations – immediately following receipt of such information; 71.7. information on the redress process for initiating proceedings – immediately after the process of legal protection proceedings; 44.6. information about insolvency proceedings for a declaration of invalidity, if one is undertaken, the immediately following receipt of such information; 71.9. information about any other conditions that may significantly affect the borrower's ability to pay its obligations, immediately upon detection of such conditions. 72. If, in assessing this rule referred to in paragraph 71 of the information they contain, the Treasury finds conditions that can adversely affect the country's repayment of the loan, and if immediate action is required, not later than 15 working days, inform the Minister of finance, Minister of finance for the preparation of the report on the current situation and providing proposals on possible solution options, and inform the Ministry about the existing situation. 73. The Ministry and the borrower, in cooperation with the Treasury in developing further the action plan for the borrower to ensure financial discipline in the long term, to ensure repayment of the loan. 74. the State loan agreement To the end of the action the Ministry development plan for the project implementation monitoring (monitor the development plan for the proposed business idea, the implementation of the procurement and the efficiency of investment planning project, follow the project time schedule), in order to ensure the responsible Ministry objectives and monitoring indicator of achievement according to the planning documents of development priorities and objectives. 75. If the Ministry's development planning document is amended the framework and identify risks that may negatively affect the country's repayment of the loan, the Ministry shall inform the Treasury for further action. 76. If the Ministry, the borrower and the Treasury in three months do not agree on the further action plan or the borrower is not implemented the measures under the action plan, or other significant risks identified, the Ministry shall inform the Cabinet to ensure the original objectives and results under the Ministry initially approved the development directions and priorities. 77. The Treasury every three years the borrower may request information on the implementation of the project. 78. The Treasury: 78.1. cost State loans in accordance with the contracts concluded according to law the national budget for the current year given the increase in State loans to a total of approximately; 78.2. prepare and send a written request for the Government loan obligations in accordance with the contracts concluded; 78.3. monitor the State loans issued; 78.4. evaluate this rule 71. documents referred to keep track of the borrower's financial situation and determine the likelihood of repayment of the loan; 78.5. keep state concluded loan agreement, the loan agreement and collateral guarantee agreements and organize the original Government loan and collateral registries; 78.6. sort the loan financial records recording all the commitments, as well as the national budget accounts; 78.7. within 15 working days of receipt of the information prepare and submit proposals to the Minister of finance for a decision on the loan or a part of the suspension, if: 78.7.1. the borrower is not insured by the subject of pledge under this provision in paragraph 68; 78.7.2. the borrower has not made payments on or submitted a Treasury statement for failing to meet its obligations; 78.7.3. courts are seised of a claim against the borrower for non-performance or in accordance with the judgment of the borrower's current account is attached; 78.7.4. the information on the initiation of insolvency proceedings or a declaration of invalidity; 78.8. where it is found in at least one of these rules 78.7. the cases referred to in point-stop Government loan or any part of it to the Minister of finance issue for decision; 78.9. national loan during the agreement draw up and submit proposals to the Minister of finance for a decision on the loan was immediate and full reimbursement if privatization or State and local seizures of property of a municipality or a State in part of the share capital of a capital company or individual has decreased and the total does not exceed 50% or more of local government created the Corporation's share capital shall not exceed 65%. IX. Closing questions 79. Be declared unenforceable: 79.1. The Cabinet of Ministers on 19 January 2010, Regulation No 63 "public lending and service order" (Latvian journal 14, 2010 no; 2013, 159. No.); 79.2. The Cabinet of Ministers of 12 June 2012 rules no 397 "in the ministries and other Central Government the institutions included in the annual State budget bill on a Government loan requests "(Latvian journal, 2012, 93. nr.). 80. the scientific institution, which the State plans to use loans approved in the European Union and other foreign financial assistance for the implementation of the co-financed projects, to the acquisition of immovable property ownership does not apply this rule 26.5. referred to conditions. 81. the scientific institution of real estate acquisition property immediately submitted information on estimated national loan collateral under this rule 26.5. the conditions referred to in (a) and switch the loan support agreement. 82. the scientific institution which plans to receive State loans in the European Union and other foreign financial assistance for implementation of projects co-financed in accordance with the provisions of paragraph 80 and 81 shall submit proof of its use or possession of an existing State or municipal property. 83. If the Cabinet approved the State aid in determining State aid programs and implementing national loan conditions, including yours of the expected loan, State aid program is not required to submit the implementing this provision 26. the documents referred to in paragraph 1. The Prime Minister is the Rapidity of the Newsletters Finance Minister John pielikumsMinistr of kabineta2015 Rare 1 of 30 jūnijanoteikum no information on the implementation and 363 project (sample) (institutions) (document preparation) (document date) (registration number) of the applicant, the project implemented and planned projects for which aid was received or which is submitted to the receiving State aid, European Union or other types of support programmes no p. k. Funding provider source of funds (Fund of the European Union, public, private) legal base (Cabinet of Ministers regulations, the law, the cabinet order) date of award of the aid year project total costs eligible costs funding State aid intensity (%) 1.                   2.                   …
                 
(position) (signature) (V.)
(document name, service provider's phone number, e-mail address) Note the. The document property "signature" and "date" does not fill in, if an electronic document is drawn up according to the law on electronic document design. Finance Minister John pielikumsMinistr of kabineta2015 2 Rare 30 jūnijanoteikum no 363 municipal, sector ministries or other Central Government institutions the certificate (sample) (property) proof (document preparation) (document date) (registration number) (municipalities, industry Ministry or other Central Government institutions name) certify that: 1. the obligation to provide a service of general economic interest is imposed (a corporation name (address, registration number)) (contract/regulations (date the parties)), subject to the public service regulatory legislation, including the legislation of the European Union. 2. The Ministry of finance will immediately be informed if (planned state loan repayment term) will end a contract with (name of Corporation) for the service of general economic interest.
(position) (signature) (V.)       (document name, service provider's phone number, e-mail address)
Note the. The document property "signature" and "date" does not fill in, if an electronic document is drawn up according to the law on electronic document design. Finance Minister John pielikumsMinistr of the Rare 3. kabineta2015.30 jūnijanoteikum no 363 receipt (document preparation) (date) (number) (national loan recipient name) certify that the (Corporation, scientific authority or port authority, or other) is not a difficulty (according to the definition below). The borrower has difficulty if there is at least one of the following situations: 1. The accumulated losses have lost more than half of the borrowers of the subscribed capital. That is, if the accumulated losses, the report from the reserves (and all the other positions, which are reputed to be considered as part of the company's equity), a negative result occurs that exceeds half of the subscribed capital. 2. in relation to the borrower, in which some members have unlimited liability for the debts of the borrower, if the accumulated losses have lost more than half of the borrower's accounts shown in the capital. 3. the borrower is declared by a court or the insolvency proceedings with a court judgment is the legal protection process, or by a decision of the Court of Justice is an out-of-court redress process, previous bankruptcy, reorganisation or appropriate composition, or its economic activity is terminated, whether it conforms to the law laid down criteria to be applied at the request of the creditor in the insolvency proceedings. 4. in the case of borrowers who are not small or medium-sized uzņēmums1 in the last two years: 4.1 the borrower's debt and equity book value ratio is exceeded the 7.5; 4.2. the borrower's interest coverage was calculated after attiecība2 EBITDA3, has been less than 1.0.
(document signer's posts) (signature) (V) 1 according to the Commission of 17 June 2014 to Regulation No 651/2014, by which certain categories of aid compatible with the internal market, the application of the Treaty and article 107.108 (OJ L 187, 26.06.2014.), 1. referred to in the annex to micro, small and medium-sized enterprises. 2 profit or loss before interest, taxes, depreciation of intangible investments, fixed assets and long-term financial investments depreciation deductions relative to all interest payments to be paid in accordance with the agreements. 3 profit or loss before interest, taxes, depreciation of intangible investments, fixed assets and long-term financial investments depreciation deductions.
Finance Minister John pielikumsMinistr of the Rare 4. kabineta2015.30 jūnijanoteikum No Risk rate loan 363 reserve base points rating category of high medium low strong (AA-A) 60 75 100 75 100 220 (BBB) Unsatisfactory good (BB) weak (B) 220 400 650 100 220 400 bad/financial difficulties (CCC and lower) 400 650 1 000 borrowers who do not have a credit history or a rating that is based on the balance sheet (for example , special purpose companies or start-up companies), the risk rate of at least 4% (depending on the available security) and the risk rate cannot be lower than that applicable to the parent company. Finance Minister John a Rare