Regulatory Alerts1998-04-07 | Resolución 041/98Added · Updated
Resolution 041/98 on the Issuance of Commemorative Coins for the III Iberoamerican Series
The Board of Directors of the Central Bank of Bolivia approves the issuance of 10,800 commemorative silver coins featuring the "La Diablada" dance, minted by the Spanish National Factory of Currency and Stamps (FNMT). The resolution authorizes the international sale of 10,000 pieces with a royalty of $5 per unit, the domestic sale of 500 pieces at $25 each, and the acceptance of a donation of 300 pieces for exchange and gifts. It further permits the deduction of up to $7 per unit for 500 allocated pieces from the aforementioned royalties.
BOARD RESOLUTION NO. 041/98 SUBJECT: CURRENCY AND CREDIT - ISSUANCE OF COMMEMORATIVE COINS CORRESPONDING TO THE III IBEROAMERICAN SERIES "IBEROAMERICAN DANCES AND TYPICAL COSTUMES".
VIEWED: The Law No. 1670 of October 31, 1995. The Board Resolution No. 031/96 of February 13, 1996. The Report No. 010/98 from the Currency and Credit Management of March 17, 1998. The ALEG Report No. 101/98 from the Legal Advisory of March 20, 1998.
CONSIDERING: That by Board Resolution No. 031/96 of February 13, 1996, the participation of the Central Bank of Bolivia in the III Iberoamerican Series of Commemorative Coins "Iberoamerican Dances and Typical Costumes" was authorized, with silver coins of up to 20,000 units for sale in collection, and 500 pieces for internal commercialization purposes.
That the coin representing the country in this collection has a face value of Bs 10 and carries as its main motif on the obverse the dance of "La Diablada".
That the aforementioned Board Resolution entrusted the minting of the coins to the Spanish National Factory of Currency and Stamps (FNMT), authorizing the President of the BCB to sign the respective contract.
That the Spanish National Factory of Currency and Stamps (FNMT) has completed the manufacturing of 6,800 pieces of the Bolivian coin and 4,000 others are in the process of minting, having requested the issuance of the same by the Central Bank of Bolivia.
That the FNMT will market 10,000 coins in the international market, with a royalty for the Central Bank of $5 per unit. That, likewise, it will assign 800 pieces to the BCB for distribution in the country, 300 with a donation character and 500 at a unit cost of up to $7 to be deducted from the aforementioned royalties.
//2. B.R. No. 041/98
That it is an attribution of the Board, in accordance with Article 54, paragraph m) of Law 1670, to authorize and supervise the issuance of coins.
THEREFORE,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA
RESOLVES:
Article 1.- Approve the issuance of 10,800 pieces of commemorative coins corresponding to the III Iberoamerican Series "Iberoamerican Dances and Typical Costumes", minted by the Spanish National Factory of Currency and Stamps.
Article 2.- Authorize the FNMT of Spain to market 10,000 pieces of the Bolivian coin in the international market.
Article 3.- Authorize the sale in the internal market of 500 pieces of the Bolivian coin at a price of $25 per unit.
Article 4.- Accept the donation of 300 pieces from the FNMT of Spain to the Central Bank and authorize their destination for exchange and gift purposes.
Article 5.- The Presidency and the General Management are in charge of the execution and compliance with this Resolution.
La Paz, April 7, 1998
Juan Antonio Morales A.
Armando Pinell S.
Jaime Ponce G.
Juan Medinacelli V.
Fernando Campero P.
Juan Pablo Zegarra A.
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