Law No. 38 Of 24 June 1993

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

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LAW No. 38 of 24 June 1993 on State loan to finance the State budget deficit for the year 1992 and refinancing rate due in 1992 from the State loan contracted to finance the State budget deficit recorded in 1991 PARLIAMENT published in ISSUING the OFFICIAL GAZETTE NR. 137 of 28 June 1993 the Romanian Parliament adopts this law.


Article 1 the State loan Limit amounting to 89.0 billion approved by law No. 114/1992, shall be increased to the amount of 263.1 billion, to cover the State budget deficit for the year 1992.


Article 2 the Minister of finance is authorized to issue bonds, t-bills or other records of State financial aid to cover the deficit of the State budget on the 1992 article. 1 of this Act, and for the repayment of overdue rate in 1992, amounting to 8.2 billion lei, the loan contracted to cover the State budget deficit since 1991.


Article 3 Cuts and types of loans, each broadcast items on the denominations, interest rate, bond characteristic signs, titles and records State, scadentele and redemption thereof to be determined by the Ministry of finance.


Article 4 Obligations, and records of State titles will be sold through subscription by the public, or other methods approved by the Ministry of finance, and operations will roll directly by this Ministry or through authorized agents.


Article 5 Interest which is appropriate to the holders of bonds, securities or documents of the State are not subject to taxation.


Article 6 on the measure of collection of amounts arising from a loan from the State, 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 its meeting on 7 June 1993, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
SENATE PRESIDENT Prof. MAHADEVAPPA GAITAN this law was adopted by the Chamber of deputies at its meeting on 7 June 1993, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
PRESIDENT Of The CHAMBER Of DEPUTIES ADRIAN NASTASE — — — — — — — — — — — —-