Regulatory Alerts1998-04-07 | Resolución 043/98Added · Updated
Resolution 043/98: Authorization for the Minting, Issuance, and Marketing of the Commemorative Coin for the 450th Anniversary of the Founding of the City of Nuestra Señora de La Paz
The Board of Directors of the Central Bank of Bolivia authorizes the minting and issuance of 2,000 proof silver coins with a face value of 50 Bolivianos to commemorate the 450th anniversary of the founding of La Paz. The coins are to be produced by the Royal Mint of Spain (FNMT) using royalties from the Iberian Series, with 1,700 pieces approved for sale at $25 USD each and 300 pieces reserved for exchange and gifts. The President and General Manager are tasked with executing and ensuring compliance with this resolution.
BOARD RESOLUTION NO. 043/98
SUBJECT: CURRENCY AND CREDIT - AUTHORIZES MINTING, ISSUANCE, AND MARKETING OF THE COMMEMORATIVE COIN FOR THE "450 YEARS SINCE THE FOUNDING OF THE CITY OF NUESTRA SEÑORA DE LA PAZ"
HAVING VIEWED:
The Law No. 1670 of the Central Bank of Bolivia of October 31, 1995. The Board Resolution No. 041/98 of April 7, 1998. The Note DO-09-98 from the Bolivian Numismatic Society of February 16, 1998. The Note CCPLP-D-047/98 from the Civic Committee Pro-La Paz of March 19, 1998. The Note ADGRL.No. 055/98 from the General Secretariat of March 26, 1998. The Report DTESO No. 013/98 from the Currency and Credit Management of March 26, 1998. The Report ALEG - No. 128/98 from the Legal Advisory of April 3, 1998.
CONSIDERING:
That on October 20 of the current year, the 450th anniversary of the founding of the city of La Paz, seat of the Government and of the Central Bank of Bolivia, is commemorated.
That in adherence to this important event, the Issuing Institute has deemed it convenient to provide for the minting of a commemorative coin in homage to the city of Nuestra Señora de La Paz.
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 an 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 2,000 pieces of the commemorative coin for the 450 years of the founding of the City of Nuestra Señora de La Paz, under the responsibility of the FNMT of Spain, with resources derived from the royalties of the III Iberoamerican Series "Dances and Typical Iberoamerican Costumes", according to the following characteristics:
Face Value: Fifty Bolivianos (Bs50) 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: Coat of Arms of the City of Nuestra Señora de La Paz. Reverse: Motif alluding to the anniversary of the founding of this city.
Article 2.- Approve the sale of 1,700 pieces at $25 USD per unit.
Article 3.- Authorize the allocation of 300 pieces for exchange and gift purposes.
Article 4.- The Presidency and the 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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