Source: https://www.global-regulation.com/translation/brazil/2895152/united-states-senate-resolution-no.-47%252c-of-18-october-2012.html
Timestamp: 2019-11-18 21:38:52
Document Index: 629394382

Matched Legal Cases: ['art. 48', 'Art. 2', 'art. 1', 'art. 155', 'art. 167', 'art. 10']

Machine Translation of "United States Senate Resolution No. 47, Of 18 October 2012" (Brazil)
United States Senate Resolution No. 47, Of 18 October 2012
Original Language Title: Resolução do Senado Federal nº 47, de 18 de outubro de 2012
Do I know that the Senate approved, and I, Jose Sarney, President, pursuant to art. 48, paragraph XXVIII, the internal regulations, enact the following R E S O L U t I O N° 47, 2012-Authorizes the hiring of external credit operation between the State of Mato Grosso and the Inter-American Development Bank (IDB), with the guarantee of the Federative Republic of Brazil, worth up to $15,032,000.00 (us $15,032,000) , whose resources are intended for partial funding of the "Development Programme of Financial Administration (Profisco-MT)".
The Senate resolves: Art. first is the State of Mato Grosso allowed to hire external credit operation with the Inter-American Development Bank (IDB), with the guarantee of the Federative Republic of Brazil, worth up to $15,032,000.00 (us $15,032,000).
Sole paragraph. The resources from the credit operation referred to in the caput are intended for partial funding of the "Development Programme of Financial Administration (Profisco-MT)".
Art. 2 the credit operation referred to in art. 1st should be conducted under the following conditions: (I)-debtor: State of Mato Grosso;
IV-value: up to $15,032,000.00 (us $15,032,000);
V-disbursement: up to 4 (four) years, from the period of the contract;
VI-amortization: semi-annual installments, consecutively and, to the extent possible, equal, to be paid on 15 June and 15 December of each year, winning the first after have elapsed to 4.5 years (four and a half years) from the date of signature of the contract, and the last, in up to 20 (twenty) years thereafter;
VII-interest: required semi-annually on the same payment dates and amortization calculated on the regular balance due on the loan at an annual rate for each quarter given by the IDB, and composed by quarterly Libor interest rate to u.s. dollar, more or less a cost related to the IDB loans that finance the loans Unimonetário engine with interest rates based on Libor plus the margin for loans from ordinary capital in force on the date of determination of the interest rate for each quarter expressed in terms of a percentage annual;
VIII-credit Committee: to be established periodically by the IDB, calculated on the balance not paid required funding together with interest, entering into force 60 (60) days after signature of the contract, and in no case exceed the percentage of 0.75% p.a. (75 hundredths by 100 per year);
IX-expenses: depending on the periodic review of its policies, the Bank shall notify the borrower an amount due to meet general inspection and supervision costs, but this may not be more than 1% (1%) of funding, divided by the number of semesters understood within original disbursements;
(2) the borrower may, with the written consent of the warrantor, and subject to compliance with the terms and conditions set forth in the loan agreement, request the lender: I-converting to a fixed interest rate of part or all of the debt balances subject to interest rate based on Libor; and II-a new converting part or all of the debt balances of loan calculated at a fixed interest rate for Libor-based interest rate.
(3) for the purposes of application of the fixed interest rate loan debtors balances, each conversion may only be performed in minimum value equivalent to 25% (25%) of the net amount approved or $3,000,000.00 funding (us $3 million), whichever is greater, unless the conversion for the remaining balance due on the loan and in this case, with the approval of the BID, the amount of the conversion may be lower.
Art. third is the Union authorized to grant guarantee to the State of Mato Grosso in the hiring of external credit operation referred to in this resolution.
Sole paragraph. The authorization referred to in the caput is conditioned to that: I the State of Mato Grosso celebrates the Union contract for the provision of counter-guarantees in the form of binding of the own resources referred to in art. 155 and revenue-sharing quotas of dealing with the arts. 157 and 159, combined with paragraph 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;
II-the Ministry of finance check and replenish: to) the situation of the defaulting again between guaranteed as to payments and benefits of accounts contemplated in art. 10 of resolution No. 48, 2007, the Federal Senate;
b) substantial compliance, by the State of Mato Grosso, prior to the first disbursement conditions, according to the loan agreement.
Senate, on 18 October 2012.
2001 United States Senate Resolution No. 8, 05 June 2001