Enacted law authorizing the state government to take out a loan of up to BRL 500 million – News of Brazil
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Paulo Silva
Policy Editor
The acting governor Teles Junior (PDT), sanctioned the law (2,832) that authorizes the Executive Branch to contract a credit operation with Banco de Brasília (BRB), up to the amount of R$ 500 million, to finance the actions of the Amapá do Futuro Program. The project was approved on Thursday (4) by the Legislative Assembly.
According to the sanctioned law, the rules and specific conditions approved by BRB for the operation and the legal provisions for contracting credit operations will be observed, with the resources resulting from the authorized financing being obligatorily applied in the execution of the Amapá do Futuro Program, the which proposes investments in administrative modernization, health care policies, infrastructure and urban mobility, road integration and economic development activities in the state of Amapá, and may be contracted, in whole or in part, with the financial institution of the operation.
Resources from the credit operation must be allocated as revenue in the Budget or in additional credits. Budgets or additional credits must include the appropriations necessary for amortization and payment of annual charges, relating to financing contracts.
The law, which is already in force, authorizes the governor, head of the Executive Branch, to open additional credits destined to fulfill the payments of obligations arising from the credit operation.
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