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Law No. 162 Of 12 July 2010

Original Language Title:  LEGE nr. 162 din 12 iulie 2010

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LEGE no. 162 162 of 12 July 2010 for the ratification of the amendment, agreed by the exchange of letters signed in Bucharest on 19 August 2009 and in Luxembourg on 15 September 2009 between Romania and the European Investment Bank, on the Loan Agreement between Romania, the European Bank of Investments and Autonomous Direction of Distribution of Thermal Energy "Radet" Bucharest on the financing of the Project for the rehabilitation and modernization of the district heating system in Bucharest, signed in Luxembourg and in Bucharest on 12 and, respectively, November 14, 1997, and the Amendment, agreed by the exchange of letters signed at Bucharest on 19 August 2009 and in Paris on 10 September 2009 between Romania and the Development Bank of the Council of Europe, at the Loan Framework Agreement between Romania and the Social Development Fund of the Council of Europe, concluded in Paris on 4 June 1998
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR no. 509 509 of 22 July 2010



The Romanian Parliament adopts this law + Article 1 The amendment was ratified, agreed by the exchange of letters *) signed in Bucharest on August 19, 2009 and in Luxembourg on September 15, 2009 between Romania and the European Investment Bank, on the Loan Agreement between Romania, the European Bank Investments and Autonomous Direction of Distribution of Thermal Energy "Radet" Bucharest on the financing of the Project for the rehabilitation and modernization of the district heating system in Bucharest, signed in Luxembourg and in Bucharest on 12 and, respectively, 14 November 1997, amounting to ECU 35 million equivalent, ratified by Government Ordinance no. 22/1998 , approved by Law no. 131/1998 . + Article 2 The amendment was ratified, agreed by the exchange of letters *) signed in Bucharest on August 19, 2009 and in Paris on September 10, 2009 between Romania and the Council of Europe Development Bank, at the Loan Framework Agreement between Romania and the Social Development of the Council of Europe, concluded in Paris on 4 June 1998, amounting to ECU 10 million equivalent, ratified by Government Ordinance no. 100/1998 , approved by Law no. 233/1998 ,, as amended. ----------- Note * *) Translation. This law was adopted by the Romanian Parliament, in compliance with the provisions of art. 75 75 and art. 76 76 para. (2) of the Romanian Constitution, republished. CHAMBER OF DEPUTIES PRESIDENT ROBERTA ALMA ANASTASE SENATE PRESIDENT MIRCEA-DAN GEOANA Bucharest, July 12, 2010. No. 162. MINISTRY OF PUBLIC FINANCE CABINET SECRETARY OF STATE 19 19 August 2009 To: EUROPEAN INVESTMENT BANK (EIB) Bd. Konrad Adenauer nr. 100 100, L-2950 Luxembourg Tel: + 352-43 79-1 Fax: + 352-43 77-04 To attention: Mr. Cormac Murphy, division director Mr F. Bruni Roccia, Deputy Division Director Re: Loan no. 19.914, Project Romania-Termofication Bucharest-transfer of the obligation to pay full debt to the Bucharest Municipality Dear gentlemen, We refer to the request addressed by the Bucharest Municipality to transfer the obligation to pay the full debt generated in connection with the above mentioned loan agreement from R.A.D.E.T. to the Bucharest Municipality. In this regard, in accordance with the provisions of the loan agreement, the Ministry of Public Finance, acting as the Loan, will request that you approve this change. In anticipation of receiving your response as soon as possible, thank you in advance for your cooperation With esteem, Bogdan Alexandru Dragoi, State Secretary MINISTRY OF PUBLIC FINANCE CABINET SECRETARY OF STATE 19 19 August 2009 To: COUNCIL OF EUROPE DEVELOPMENT BANK (BDCE) Avenue Kleber 55, Paris 75116, France Tel: + 33-1-47 55 55 34 Fax: + 33-1-46 55 37 52 To the attention of Mr. Raphael Alomar, Governor Cc: Mrs. Sylvie Anagnostopoulos, Country Director for Romania Re: F/P 1259 (1997)-R.A.D.E.T. -transfer of the obligation to pay the full debt to the Bucharest Municipality Dear gentlemen, We refer to the request addressed by the Bucharest Municipality to transfer the obligation to pay the full debt generated in connection with the above mentioned loan agreement from R.A.D.E.T. to the Bucharest Municipality. In this regard, in accordance with the provisions of the loan agreement, the Ministry of Public Finance, acting as the Loan, will request that you approve this change. We would also like to remind you that we are still waiting for your reaction to our letter of 19 January 2009 relating to the cancellation of the outstanding amount of the Loan Agreement F/P 1259 (1997). In anticipation of receiving your response as soon as possible, thank you in advance for your cooperation With esteem, Bogdan Alexandru Dragoi, State Secretary MINISTRY OF PUBLIC FINANCE Str. Apolodor no. 17 17, sector 5, RO-050741 Bucharest Luxembourg, 15 September 2009 Ops A/SEE-2/1995-2214/JMI/cp Subject: FI 1.9914-Romania-The rehabilitation project of the Bucharest district heating network The financing contract dated 12/14 November 1997 (FI No. 1.9914) between the European Investment Bank (EIB) as a borrower and Romania as the Loan and R.A.D.E.T. R.A. ((RADET), (Financing contract) Dear Mr. Dragoi, Thank you for your letter dated August 19, 2009. We understand that your proposal refers to a relationship between RADET and Romania, a relationship that is separate and distinct from the Financing Contract and does not affect the legal obligations of any of the parties to the EIB, generated by the Contract of funding. Given that: 1. The financing contract remains unchanged; 2. Romania continues to be individually responsible for the debt service, as a borrower, according to the Financing Contract; and 3 3. the contractual obligations of RADET provided for in the Financing Contract and all related documentation will remain unchanged, we express our acceptance, as far as necessary and in accordance with the Financing Contract, in respect of the request for approval expressed in your letter. Please do not hesitate to contact us if you have any further questions regarding this matter. With esteem, European Investment Bank C. Murphy J. Mcllwaine BDCE DEVELOPMENT BANK OF THE COUNCIL OF EUROPE Mr. Bogdan Alexandru Dragoi, State Secretary Str. Apolodor 17, Sector 5, Bucharest, Romania Paris, 10 September 2009 Subject: F/P 1259-Romania Dear Mr. Dragoi, We refer to your letter dated August 19, 2009 regarding the transfer of the debt payment obligations related to the above mentioned project. Please note that the proposed transfer of debt obligations does not imply any modification of the project described in the Loan Framework Agreement signed between Romania and BDCE on June 4, 1998. Considering that the contractual relationship of BDCE continues to be with Romania, as a Loan, the BDCE is not in a position to have an opinion on issues of an administrative nature belonging to Romania. With esteem, Thierry Poirel, General manager, Loans -----------