Law No. 71 Of 17 July 1992 Authorizing The Guarantee Of Credits

Original Language Title:  LEGE nr. 71 din 17 iulie 1992 privind autorizarea garantarea unor credite

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LAW No. 71 of 17 July 1992 authorizing the ISSUING credits guarantee PARLIAMENT Published in MONITORUL OFICIAL NR. 169 of 20 July 1992 For securing financial resources necessary for the construction of motorways in Romania, the Romanian Parliament adopts this law.

Article 1 shall authorize the Government of Romania as Ministry of economy and Finance to issue governmental guarantees in favour of the National Road Administration under the Ministry of transportation for the loans to be incurred for the purpose of financing the construction of motorways in Romania as set out in the annex to this law.
The demand for domestic and foreign loans, and contracting conditions thereof shall be established by the Ministry of transport, Ministry of economy and finance and the National Administration of roads, on the basis of negotiation with the creditor banks.

Article 2 repayment of loans and other expenses shall be made from the proceeds realized on the sections of Highway put into service and in addition other sources that will be set by the Government.
Due to the interest due till the commissioning of the Highways will be repaid from proceeds of the National Administration of roads.

Article 3 Conditions for the granting of guarantees will be established through the collateral that will be concluded between the parties under article 4. 1. Article 4 shall be laid down in annex Highways declared public utility construction and benefit from all facilities of this quality, in accordance with the law.
This law was adopted by the Chamber of deputies at its meeting on 15 June 1992, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
PRESIDENT of the CHAMBER of DEPUTIES This MARTIAN DAN law was adopted by the Senate at its meeting on 23 June 1992, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
Academic SENATE PRESIDENT ALEXANDRU BÂRLĂDEANU Annex 1 programme of construction of motorways in Romania I-Phase during the period 1992-1995 Routes: 1. Bucharest-Fundulea 26.5 km 2. Fundulea-Fetesti 107.6 km 3. Cernavoda-Constanta 64.5 km 4. Bucharest-Pitesti 96.0 km 5. Bucharest-Giurgiu 44.0 km 6. South belt Bucharest 40.0 km stage II a-during the period 1995-2002 Routes: 1. Sibiu-Pitesti 160.0 km 2. Sibiu-the Haţeg 130.0 km 3. Deva-Nadlac 170.0 km 4. Bucharest-Braşov 160.0 km-— — — — — — — — — — — —