Board Resolution No. 012/2010

BOARD RESOLUTION NO. 012/2010
SUBJECT: MONETARY OPERATIONS MANAGEMENT – AUTHORIZES MONETIZATION OF COINS OF THE Bs1 CUT.
Bs5 CUT.

SEEN:
The Law No. 901 of November 28, 1986, which creates the “Boliviano” as the legal and mandatory unit of currency.
The Law No. 1670 of October 31, 1995.
The Statute of the Central Bank of Bolivia of October 21, 2005.
The Regulation for the Issuance, Exchange, and Destruction of Monetary Material, approved by Board Resolution No. 047/2009 of April 14, 2009.
The Coin Minting Contract SANO No. 078/2009 of May 19, 2009, and its Amending Addendum SANO No. 113/2009 of June 15, 2009, signed between the BCB and the Chilean Mint. The Report from the Monetary Operations Management STES No. 010/2010 of January 18, 2010. The Report from the Legal Affairs Management SANO No. 016/2010 of January 18, 2010.

CONSIDERING:
That Article 1 of Law No. 901 creates the Boliviano as the unit of the State's monetary system, through banknotes and coins that the Central Bank of Bolivia will issue and circulate as legal tender, starting from January 1, 1987. That according to Article 10 of Law No. 1670, the Central Bank of Bolivia exercises exclusively and non-delegably the function of issuing Bolivia's monetary unit, in the form of banknotes and metallic coins.

//2. R.D. No. 012/2010
That in accordance with the Coin Minting Contract and its Amending Addendum, the Central Bank of Bolivia has received the sixth delivery of metallic monetary material from the Chilean Mint. That it is the attribution of the Board of Directors according to Article 54, paragraph m) of Law No. 1670 and numeral 11 of Article 11 of the Statute, to authorize and supervise the issuance of banknotes and coins. That Article 9 of the Regulation for the Issuance, Exchange, and Destruction of Monetary Material establishes that it is the faculty of the BCB Board of Directors to authorize the monetization of banknotes and coins. That the Report STES No. 010/2010 establishes that the monetization of coins of the Bs1.- and Bs5.- cuts is necessary and recommends that the BCB Board of Directors consider the monetization of the monetary material delivered to the vault by the supplier, the Chilean Mint. That in the opinion of the Legal Affairs Management according to Report SANO No. /2010, there is no legal impediment for the BCB Board of Directors, in attention to its faculties and competencies, to approve the monetization of coins of the Bs1.- and Bs5.- cuts.

THEREFORE
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:

Article 1.- Authorize the monetization of coins of the Bs1.- and Bs5.- cuts according to the following detail:

CUT | NUMBER OF PIECES | VALUE IN Bs.
1.- | 19,920,000 | 19,920,000
5.- | 1,050,000 | 5,250,000
TOTAL | 20,970,000 | 25,170,000

Article 2.- Designate Director Hugo Dorado to participate on behalf of the Board of Directors in the act of monetization of the aforementioned material.

//3. R.D. No. 012/2010
Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.

La Paz, January 19, 2010

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Gabriel Loza Tellería

_________________________ _________________________ Gustavo Blacutt Alcalá Hugo Dorado Araníbar

_________________________ _________________________ Rolando Marín Ibáñez Ernesto Yáñez Aguilar

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Rafael Boyán Téllez