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Law No. 74 Of 14 December 1991 On Loan To Finance The State Budget Deficit, The State's Central Administration Since 1991

Original Language Title:  LEGE nr. 74 din 14 decembrie 1991 privind împrumutul de stat pentru finanţarea deficitului bugetului administraţiei centrale de stat pe anul 1991

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LEGE No. 74 of 14 December 1991 on the state loan to finance the deficit of the state central government budget for 1991
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR NO. 251 of 16 December 1991



The Romanian Parliament adopts this law + Article 1 The Ministry of Economy and Finance is authorized to contract a state loan within the amount of 65.5 billion lei, through the National Bank of Romania, in order to finance the deficit of the state central administration budget for 1991. The state loan is contracted until December 31, 1991, depending on the financing needs of the budget deficit of the central state administration, in which the National Bank of Romania will conclude, on behalf of the state and on behalf of the Ministry Economy and Finance, loan agreements with financial institutions-House of Savings and Consemnations, Romanian Insurance Company "ASIROM", Commercial company "ASTRA", commercial banks, as well as with economic agents holding Cash availability. + Article 2 The maximum limit of the interest related to the state loan is with a percentage unit below the interest rate granted for the term deposits of over one year of the population at the Savings and Consemnations House, within which the National Bank of Romania will negotiate with the money availability holding units, depending on the offers received. In the event of changing the interests for the over one year term deposits of the population at the House of Savings and Consemnations, the National Bank of Romania will renegotiate, accordingly, with the borrowers the level of interest. The interest on the state loan is calculated and paid quarterly from the state central government budget. The interest for the year 1991 shall be calculated by 31 December 1991 and shall be paid by 15 January 1992. + Article 3 The state loan contracted in 1991 is depreciated within 5 years, starting with 1992, in equal annual rates, due on December 30 of each year. + Article 4 The Ministry of Economy and Finance and the National Bank of Romania will issue methodological instructions on the record and reporting of the state loan, as well as its contents in the general account of public debt. This law was passed by the Senate at its meeting on December 11, 1991. SENATE PRESIDENT academician ALEXANDRU BIRLADEANU This law was adopted by the Chamber of Deputies at its meeting on 11 December 1991. CHAMBER OF DEPUTIES PRESIDENT MARTIAN DAN ---------------------