Act No. 574 / 2002 Coll.
Law on the acceptance of a framework loan by the Czech Republic from the European Investment Bank to finance the recovery of flood damage from 2002
Valid
Law
Effective from 30.12.2002
Text versions:
07.12.2006
30.12.2002
574
THE LAW
of 19 December 2002
on the acceptance by the Czech Republic of a framework loan from the European Investment Bank to finance the recovery of flood damage in 2002
Parliament has decided on this law of the Czech Republic:
(1) The Czech Republic is entitled to accept a framework loan from the European Investment Bank to finance the recovery of the 2002 flood damage of EUR 400 000 000, converted into Czech koruna by the reference exchange rate calculated and published by the European Central Bank, and, failing that, by the current rate on any other financial market selected by the European Investment Bank, at a date of 15 days prior to the date on which the loan was drawn up by that Bank. The loan shall be payable within 30 years of the date of signature of the credit agreement.
(2) The framework loan referred to in paragraph 1 shall be used to finance the recovery of assets after the 2002 floods in the field of energy, transport and water infrastructure, water works and water flows under programmes approved under the special legislation1) and to finance the recovery of assets after the floods in 2006 in the field of water infrastructure, water works and water flows under the programme approved under the specific legislation1).
(3) The loan agreement for acceptance of the loan referred to in paragraph 1 is negotiated on behalf of the Czech Republic by the Minister for Finance.
The total expenditure of the State Budget approved by the State Budget Act in the financial year in which the funds thus obtained are used may be exceeded by the framework loan provided for in Article 1. This overrun shall be amended in the relevant financial year by the balance of the State budget and by the appropriations.
This Act shall take effect on the day of its publication.
Zaoralek v. r.
Havel v. r.
Spindles v. r.
1) Sections 12 and 13 of Act No. 218 / 2000 Coll., on budgetary rules and amending certain related laws (budgetary rules).
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Regulation Information
| Citation | Act No. 574 / 2002 Coll., on the acceptance by the Czech Republic of a framework loan from the European Investment Bank to finance the recovery of flood damage from 2002 |
|---|---|
| Regulation Type | Law |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 30.12.2002 |
|---|---|
| Effective from | 30.12.2002 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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