Central Bank of Bolivia

Board of Directors

BOARD RESOLUTION NO. 035/2017

SUBJECT: TREASURY MANAGEMENT – AUTHORIZES MONETIZATION OF LEGAL TENDER COMMEMORATIVE COINS OF Bs2 FACE VALUE RELATED TO THE MARITIME THEME

VISTOS (VIEWED):

• Law No. 901 of November 28, 1986, which creates the "Boliviano" as the legal and mandatory unit of currency.
• Law No. 1670 of October 31, 1995.
• The Statute of the Central Bank of Bolivia of October 21, 2005.
• The Regulation on Monetization, Distribution, and Destruction of Monetary Material, approved by Board Resolution No. 021/2016 of February 2, 2016.
• The Coin Supply Contract SANO-DLABS No. 421/2016 of November 16, 2016, modified by Contract SANO-DLABS 54/2017 of March 13, 2017, signed with the company Mennica Polska.
• The Report from the Monetary Operations Management BCB-GTES-SAMM-DAMM-INF-2017-34 of March 13, 2017.
• The Report from the Legal Affairs Management BCB-GAL-SANO-DLBCI-INF-2017-56 of March 13, 2017.

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 means of payment, 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 the monetary unit of Bolivia, in the form of banknotes and metallic coins.
• That it is an attribution of the Board of Directors according to Article 54, subsection 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 3 of the Regulation on Monetization, Distribution, and Destruction of Monetary Material establishes that it is the faculty of the Board of Directors of the BCB to authorize the monetization of monetary material based on the reports of the Treasury Management (GTES) and the Legal Affairs Management, in accordance with the issuance or storage requirements determined by the GTES.

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//2. B.R. No. 035/2017

• That in accordance with the Coin Supply Contract SANO-DLABS No. 421/2016 modified by Contract SANO-DLABS No. 54/2017 signed with the company Mennica Polska, the Central Bank of Bolivia received the first batch of legal tender commemorative coins of the Bs2 face value related to the maritime theme.
• That the Report BCB-GTES-SAMM-DAMM-INF-2017-34 recommends the BCB Board of Directors authorize the monetization of the entire first batch received of legal tender commemorative coins related to the maritime theme of the Bs2 face value.
• That in the opinion of the Legal Affairs Management according to Report BCB-GAL-SANO-DLBCI-INF-2017-56, the request for monetization of the entire first batch received of legal tender commemorative coins related to the maritime theme of the Bs2 face value made by the GTES is legally appropriate since it does not contravene the current legal framework, being the competence of the Board of Directors of the Issuing Entity to authorize it by simple majority of votes of the members present at the respective meeting, in accordance with what is established in Article 24 of the BCB Statute and by virtue of the provisions contained in Law No. 1670.

THEREFORE

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Authorize the monetization of legal tender commemorative coins related to the maritime theme of the Bs2 face value.- according to the following detail:

FACE VALUE	NUMBER OF PIECES	VALUE IN Bs.
2	350,000	700,000
Total	350,000	700,000

Article 2.- Designate Director Ronald Polo Rivero to participate on behalf of the Board of Directors in the act of monetization of the cited material.

Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.

La Paz, March 14, 2017

Pablo Ramos Sánchez

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//3. B.R. No. 035/2017

Luis Baudoin Olea
Ronald Polo Rivero
Sergio Velarde Vera