Source: https://www.global-regulation.com/translation/brazil/2894979/united-states-senate-resolution-no.-8%252c-07-may-2014.html
Timestamp: 2019-12-09 09:30:05
Document Index: 469227525

Matched Legal Cases: ['art. 48', 'Art. 2', 'art. 1', '§ 2', '§ 4', 'art. 167', 'art. 10']

Machine Translation of "United States Senate Resolution No. 8, 07 May 2014" (Brazil)
United States Senate Resolution No. 8, 07 May 2014
Original Language Title: Resolução do Senado Federal nº 8, de 07 de maio de 2014
Do I know that the Senate approved, and I, Renan Calheiros, President, pursuant to art. 48, paragraph XXVIII, the internal regulations, enact the following resolution No. 8, 2014 Authorizes the State to hire external credit operation, with guarantee of the Union, with the Inter-American Development Bank (IDB), worth up to $ 480,135,000.00 (480 million, 135,000 u.s. dollars).
The Senate resolves: Art. first is the State of São Paulo authorized to hire external credit operation, with guarantee of the Union, with the Inter-American Development Bank (IDB), worth up to $ 480,135,000.00 (480 million, 135,000 u.s. dollars).
Sole paragraph. The features of credit operation are intended for partial funding of "Road investment program of the State of São Paulo-1st phase".
Art. 2 the financial transaction referred to in art. 1st should be conducted under the following conditions: (I)-lender: Inter-American Development Bank (IDB);
II-debtor: State of São Paulo;
IV-the transaction value: up to $ 480,135,000.00 (480 million, 135,000 u.s. dollars);
V-mode: loan with interest rate based on Libor;
I saw a period of disbursement: up to 5 (five) years from the period of the contract;
VII-depreciation: in semi-annual installments, consecutively and, whenever possible, the same, winning the first 5 (five) years after the date of signature of the contract, and the last until 25 (twenty-five) years after this date, estimated on April 15 and October 15 2019 2038, respectively;
VIII-interest: the borrower shall pay interest on the daily debit balances at a rate which shall be determined in accordance with the contractual terms. While the loan has not been the subject of no conversion, the borrower shall pay interest on the debt balances daily to a Libor-based interest rate plus the applicable margin for loans from ordinary capital, incidents at an annual rate for each quarter determined by the Bank on a date for determining the interest rate based on Libor for each quarter;
IX-credit Committee: to be established periodically by the IDB, up 0.75% p.a. (75 cents per 100 a year) on the balance not paid required funding together with interest and entering into force 60 (60) days after the date of signature of the contract;
X-costs of inspection and supervision: except if the Bank establish otherwise, the debtor will not be required to cover the expenses of the Bank by way of general inspection and supervision, as set forth in the loan agreement.
§ 2 is allowed to the borrower, already authorized by this resolution, a formal request of the creditor, observed the time limits and minimum amounts required in the loan contract, exercise the option of converting to a fixed interest rate, some or all of the debt balances subject to floating interest rate, and vice versa, and the currency of the amount already disbursed and disburse the loan as well as hiring the establishment of ceilings and bands to the fluctuation of interest rates.
(3) For the exercise of the option referred to in paragraph 2, shall be authorized to recover the costs incurred by the IDB in its realization, as well as the transfer to the debtor of any earnings resulting from the conversion.
(1) the authorization referred to in the caput is conditioned to the State of São Paulo celebrates the Union contract for the provision of counter-guarantees in the form of binding that deal with the arts. 155, 157 and 159, pursuant to § 4 of art. 167, all of the Federal Constitution, and other guarantees in law permitted the Federal Government to require transfers of resources to cover the commitments honored directly towards centralization of the accounts of the State or federal transfers.
(2) prior to the signing of the contract, the Ministry of Finance shall verify and certify the São Paulo State defaulting again as to payments and benefits of accounts contemplated in art. 10 the Federal Senate resolution No. 48, 2007.
Senate, on May 7 2014 Senator RENAN CALHEIROS President of Senate
2009 United States Senate Resolution No. 6, May 13 2009
2005 United States Senate Resolution No. 6, 25 April 2005
2014 United States Senate Resolution No. 9, 07 May 2014
2012 United States Senate Resolution No. 14, Of 24 May 2012
2002 United States Senate Resolution No. 21, June 05 2002
2006 United States Senate Resolution No. 6, January 25 2006
2010 United States Senate Resolution No. 29, July 14 2010
2004 United States Senate Resolution No. 5, 07 May 2004
2011 United States Senate Resolution Nº 2, Of 19 May 2011
2006 United States Senate Resolution No. 5, Of 25 January 2006