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Inter-American Development Bank. Loan. Contract.

Original Language Title: Banco Interamericano Desarrollo. Prestamo. Contrato.

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Legislative Power/ Eastern Republic of Uruguay

Law 13,966


A loan contract is approved.

The Senate and the House of Representatives of the Eastern Republic of Uruguay, meeting in General Assembly,


Article 1 °.
Please approve the loan agreement signed by, the Government of the Republic with the Inter-American Development Bank, in Montevideo, on July 4, 1969, for which a credit of U$S is made 14:800,000.00 (fourteen million eight hundred thousand dollars), for the destinations established in the contract and its annexes.

Article 2 °.
The service of commissions, interest, and amortization of the loan referred to in the previous article, shall be handled by General Rentas. The IMOP shall proceed to the corresponding reintegra with the resources laid down in Article 9 °.

Article 3 °.
Authorize the Executive Branch to invest up to the equivalent in national currency U$S 4:020,000.00 (four million twenty thousand dollars) to meet the local cost of the works and services included in the Loan agreement signed with the Inter-American Development Bank.

Article 4 °.
The expenses motivated by the management and administration of the works will be handled by the departure of U$S 1:648,000 00 (one million six hundred and forty-eight thousand dollars) provided for in Annex B of the contract for engineering costs. Administration costs may not exceed 25% of this sum.

Article 5 °.
The Executive Branch shall be empowered to exonerate all or part of the payment of fees, duties and taxes, the introduction of equipment and machinery which, under temporary admission procedure, carries out the consulting firm or contractors, to the works financed by the loan.

Article 6 °.
The Court of Auditors shall perform the audit provided for in Section 6.03 of the loan agreement, under the conditions set out therein.

Article 7 °.
The Executive Branch shall be empowered to grant, in whole or in part, the same tax treatment to the goods to be imported, the transport of which is carried out in accordance with clause 5.08 of the loan agreement, than to those transported on national flag vessels.

Article 8 °.
The local cost of the works will be handled by the National Investment Fund, Sub-account Investments Ministry of Public Works.

Article 9 °.
To reintegrate the National Investment Fund, Sub-account of the Ministry of Public Works the erogations referred to in Article 8.o and to attend to those provided for in Article 2 following resources

(A) The result of the establishment of tolls on routes 5, 26 and 9, applying the rule of law number 13.297 dated 3 November 1967 and its amendments.
B) The result of the increase by the Executive Branch of the 3 rates in force at the 1st November 1969 toll on national routes.
C) Advertising elements aimed at the transit of national highways will pay a tax, per square meter or fraction, of agreement to the following scale:

Routes with transit greater than 1,000 vehicles daily,
$2,000.00 annually.
Transit routes from 300 to 1,000 vehicles daily, pesos 1,500.00 annually.
Routes with transit less than 300 vehicles daily $1,000.00 annually.
the notices currently installed, will govern the tax from 1.o of January 1970, in this case the avisador will be able to opt for the payment of the tax or to reiterate the notice.
The advertisers must renew their permission to the Office of the Ministry of Public Works in the month of January each year and must prove the payment of the aforementioned tax, which will be poured into the account Investments Ministry Public Works. The violators will pay a fine equivalent to the triple tax.
This tax will be adjusted by the Executive Branch, every two years, according to the consumer price index of the Directorate General of Statistics and Census of the Ministry of Economy and Finance.
The Executive Branch will determine by regulation the routes that correspond to the three categories of traffic intensity mentioned in this article.
No notices are considered for the signs mentioned in the article. The first of the resolution of the National Board of Directors dated 26 March December 1929.

Article 10.
The surpluses that are produced, both in the loan funds that are approved by this law, and in the national counterpart, will be invested by the Executive Branch, after the Bank's agreement. Inter-American Development, in the transformation of National Route N. or 1.

Item 11.
Commune, ete.

Chamber of Sessions of the House of Representatives, in Montevideo on June 2, 1971.


    Ministry of Public Works.
      Ministry of Foreign Affairs.
       Ministry of Economy and Finance.

Montevideo, June 4, 1971.

Comply, acknowledge receipt, communicate, post and insert into the National Register of Laws and Decrees.


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Montevideo, April 1998. Legislative Power.