Regulatory Alerts2001-12-04 | Resolución 124/2001Added · Updated
Resolution 124/2001
The Board of Directors of the Central Bank of Bolivia authorizes the monetization of 25,600,000 five-boliviano coins with a total value of 128,000,000.00 Bolivianos. The resolution designates Lic. Juan Medinaceli to represent the Board during the monetization act and charges the Presidency and General Management with executing the decision.
RESOLUTION NO. 124/2001 SUBJECT: MONETARY OPERATIONS MANAGEMENT – AUTHORIZES MONETIZATION OF Bs5 CUT COINS.
VIEWED: The Law No. 901 of November 28, 1986, which creates the "Boliviano" as the legal and mandatory unit of currency. The Law 1670 of October 31, 1995. The Board Resolution 044/98 of April 7, 1998. The SAJU Contract No. 102/2001 "Coin Minting" of June 1, 2001. The Reports from the Monetary Operations Management STES No. 051/2001 of November 23, 2001 and STES No. 053/2001 of December 3, 2001. The Report from the Legal Affairs Management SANO No. 072/2001 of November 26, 2001.
CONSIDERING: That Article 1 of Law No. 901 creates the Boliviano as the unit of the monetary system of the Republic, through banknotes and coins that the Central Bank of Bolivia will issue and circulate as legal tender, starting from January 1, 1987. That according to Article 10 of Law 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 the Central Bank of Bolivia, according to the contract signed with the Royal Canadian Mint, will receive all the Bs5 cut coins during the month of December 2001. That according to Article 12 of the Regulations on Issuance and Destruction of Monetary Material, the Board has the authority to determine the date and amount of the monetization of banknotes and metallic coins.
//2. R.D. No. 124/2001 That it is an attribution of the Board according to Article 54, subsection m) of Law 1670, to authorize and supervise the minting of coins.
THEREFORE, THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Authorize the monetization of the metallic coins of the Bs5 cut according to the following detail:
CUT NUMBER OF PIECES VALUE IN Bs 5 25,600,000 128,000,000.00 TOTAL 25,600,000 128,000,000.00
Article 2.- Appoint Lic. Juan Medinaceli to represent the Board in the monetization act of the aforementioned material.
Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, December 4, 2001
Juan Antonio Morales A.
Armando Pinell S. Juan Medinaceli V.
Armando Méndez M. Roberto Camacho S.
Javier Comboni S.
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