Regulatory Alerts2003-06-23 | Resolución 072/2003Added · Updated
Resolution 072/2003
The Board of Directors of the Central Bank of Bolivia approves the technical specifications for the minting of 1.00 and 5.00 Boliviano coins and authorizes the initiation of the contracting process for their production. This decision is based on the demand projections, family structure, and technical sheets provided by the Monetary Operations Management, in accordance with the Regulations for the Administration of Goods and Services System. The Presidency and General Management are tasked with executing and ensuring compliance with this resolution.
BOARD RESOLUTION NO. 072/2003 SUBJECT: MONETARY OPERATIONS MANAGEMENT – APPROVES TECHNICAL SPECIFICATIONS FOR THE MINTING OF COINS IN THE DENOMINATIONS OF Bs1.00 AND Bs5.00.
HAVING REVIEWED: Law 1670 of October 31, 1995. The Statute of the Central Bank of Bolivia of December 13, 2001. Board Resolution No. 108/2001 of October 30, 2001, which approves the Regulations for the Issuance, Exchange, and Destruction of Monetary Material. Board Resolution No. 057/2003 of May 29, 2003, which approves the Regulations for the Goods and Services Administration System. Act No. 005/2003 of the Ordinary Board Meeting of February 11, 2003. The Technical Specifications for the minting of coins in the denominations of Bs1.00 and Bs5.00 incorporated into the Report of the Monetary Operations Management STES INFO 002/2003 of February 3, 2003. The Report of the Legal Affairs Management SANO No. 119/2003 of June 20, 2003. The Note from the General Management GGRL I. No. 484/2003 of June 20, 2003.
CONSIDERING: That Law 1670 provides that the banknotes and coins issued by the Central Bank of Bolivia shall have the denominations, designs, and colors established by it, and for this purpose, it will contract the printing of banknotes and the minting of coins, subject to the general contracting norms for goods and services for the State. In this sense, Article 54, subsection m), establishes that the Board of the Issuing Entity is authorized to authorize and supervise the printing, issuance, and destruction of banknotes and the minting and withdrawal of coins.
//2. B.R. No. 072/2003 That the Regulations for the Issuance, Exchange, and Destruction of Monetary Material provide that the Monetary Operations Management, through the General Management, will present to the Board for consideration the future needs for banknotes and coins, detailing the estimated total volume of denominations and the technical characteristics of the monetary material. Likewise, it determines that the Board, through an express Resolution and considering the technical and legal reports, will authorize the start of the process for the printing of banknotes and the minting of coins.
That the Regulations for the Goods and Services Administration System of the Central Bank of Bolivia establish that the General Management will present to the Board of the Issuing Entity, for its approval, the Technical Specifications prepared by the Monetary Operations Management for the issuance of monetary material, which must contain the projection of the demand for banknotes and coins over a horizon of three (3) years, by denomination and under different scenarios; the structure of the family of banknotes and coins, considering alternatives for the substitution of denominations and coins, as well as the technical sheets of the coins contemplating minimally the aspects of the design of banknotes and coins, physical-chemical qualities of the banknotes and coins, security elements that each denomination must contain, probable costs, transport routes, packaging quality, taxes, and insurance. Determining that the Board, through the approval of the Technical Specifications, will authorize the printing of banknotes or the minting of coins.
That the Report of the Monetary Operations Management STES INFO 002/2003 contains the Technical Specifications for the Minting of Coins in the Denominations of Bs1.00 and Bs5.00 and determines the estimated demand for these coins for three (3) years, as well as the Family Structure and the Technical Sheets of the Coins.
That the Legal Affairs Management in Report SANO No. 119/2003 states that it corresponds to the Board to consider the approval of the Technical Specifications for the minting of the coins in the denominations of Bs1.00 and Bs5.00 included in the report of the Monetary Operations Management STES INFO 02/2003; and to proceed with the authorization to initiate the contracting process as established by the Regulations for the Goods and Services Administration System of the Central Bank of Bolivia.
That the General Management through Note GGRL I. 484/2003 recommends to the Board the approval of the Technical Specifications for the minting of the coins in the denominations of Bs1.00 and Bs5.00 included in the report of the Monetary Operations Management STES INFO 02/2003.
//3. B.R. No. 072/2003 THEREFORE, THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Approve the Technical Specifications for the minting of coins in the denominations corresponding to Bolivianos One 00/100 (Bs1.00) and Bolivianos Five (Bs5.00) annexed to this Resolution.
Article 2.- Authorize the start of the contracting process for the minting of coins in the denominations corresponding to Bolivianos One 00/100 (Bs1.00) and Bolivianos Five (Bs5.00), as provided in Articles 52 and following of the Regulations for the Goods and Services Administration System of the Central Bank of Bolivia.
Article 3.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.
La Paz, June 23, 2003.
Juan Antonio Morales A.
Juan Medinaceli V. Armando Méndez M.
Enrique Ackermann A.
More like this from BCB
BCB published 7 documents in the last 30 days. We email you each new one the day it's published.