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Law No. 38 Of 24 June 1993

Original Language Title:  LEGE nr. 38 din 24 iunie 1993

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LEGE No. 38 of 24 June 1993 on the state loan to finance the deficit of the state budget for 1992 and the refinancing of the rate due in 1992 to the state loan contracted to finance the deficit of the state budget recorded in 1991
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR NO. 137 of 28 June 1993



The Romanian Parliament adopts this law + Article 1 The limit of the state loan in the amount of 89.0 billion lei, approved by Law no. 114/1992 , is increased to 263.1 billion lei, to cover the deficit of the state budget for 1992. + Article 2 The Ministry of Finance is authorized to issue bonds, securities or other state documents for the financial coverage of the deficit of the state budget for 1992 referred to in art. 1 of this law, as well as for the reimbursement of the due rate in 1992, in the amount of 8.2 billion lei, on the loan contracted to cover the deficit of the state budget in 1991. + Article 3 The tranches and types of loans, the elements of each show on nominal values, the interest rate, the characteristic signs of bonds, securities and state enrolments, the maturities and the modalities of their redemption will be establish by the Ministry of Finance. + Article 4 The bonds, titles and state documents will be sold by public subscription, auction or other modalities agreed by the Ministry of Finance, and the operations will be conducted directly by this ministry or through authorized agents. + Article 5 The interests that are due to bondholders, securities or state documents shall not be subject to taxation. + Article 6 As the amounts of the state loan are collected, the Ministry of Finance will cover the financial resources used temporarily during the financial year 1992 to finance the budget deficit. This law was adopted by the Senate at the meeting of 7 June 1993, in compliance with the provisions of art. 74 74 para. (2) of the Romanian Constitution. SENATE PRESIDENT prof. univ. OLIVIU GHERMAN This law was adopted by the Chamber of Deputies at its meeting on June 7, 1993, in compliance with the provisions of 74 74 para. (2) of the Romanian Constitution. CHAMBER OF DEPUTIES PRESIDENT ADRIAN NASTASE -------------