Regulatory Alerts1998-04-07 | Resolución 042/98Added · Updated
Resolution 042/98: Authorization for the Minting, Issuance, and Marketing of the Commemorative Coin "70 Years of the Creation of the Central Bank of Bolivia"
The Board of Directors of the Central Bank of Bolivia authorizes the minting and issuance of 1,000 silver proof coins by the Spanish Royal Mint (FNMT) to commemorate the bank's 70th anniversary, with each coin having a face value of one Boliviano and weighing 27 grams. The resolution approves the commercial sale of 500 pieces at $25 US each, funded by royalties from the Iberian Series, while designating the remaining 500 pieces for exchange and gift purposes. The Presidency and General Management are tasked with executing and ensuring compliance with these provisions.
BOARD RESOLUTION NO. 042/98 SUBJECT: CURRENCY AND CREDIT - AUTHORIZES MINTING, ISSUANCE, AND MARKETING OF THE COMMEMORATIVE COIN "70 YEARS OF THE CREATION OF THE CENTRAL BANK OF BOLIVIA"
HAVING SEEN: Law No. 632 of July 20, 1928, which created the Central Bank of the Bolivian Nation and its subsequent denomination as the Central Bank of Bolivia by Law of April 14, 1929. Law No. 1670 of October 31, 1995. Board Resolution No. 041/98 of April 7, 1998. Report DTESO No. 012/98 from the Currency and Credit Management dated March 26, 1998. Report ALEG - No. 127/98 from the Legal Advisory dated April 3, 1998.
CONSIDERING: That on July 20 of the current year, the Seventieth Anniversary of the creation of the Central Bank of Bolivia is commemorated. That this event should be highlighted with the minting of a commemorative coin. That the III Iberoamerican Series of Coins "Dances and Typical Iberoamerican Costumes" minted by the FNMT of Spain will generate royalties for the BCB of up to 50,000 dollars from the marketing of 10,000 pieces in the international market.
That it is the attribution of the Board, in accordance with Article 54, subsection 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.- Authorize the minting and issuance of 1,000 commemorative silver coins for the Seventieth Anniversary of the creation of the Central Bank of Bolivia, to be carried out by the FNMT of Spain, with resources coming from the royalties of the III Iberoamerican Series "Dances and Typical Iberoamerican Costumes," with the following characteristics: Face Value: One Boliviano (Bs1) Metal: Silver Purity: 925 parts of silver per thousand Edge Height: 2.50 mm. Diameter: 40 mm Weight: 27 grams Edge: Reeded Mint Quality: Proof Obverse: The symbol of the Central Bank of Bolivia (Hermes) Reverse: Motif alluding to the anniversary of the founding of the Issuing Institute.
Article 2.- Approve the marketing of 500 pieces at a price of $25 US per unit.
Article 3.- Authorize the allocation of 500 pieces for exchange and gift purposes.
Article 4.- The Presidency and General Management are charged with the execution and compliance of 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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