1. The subject of the contract is the service of granting a long-term loan to cover the planned budget deficit of the City of Białogard in 2023 in the amount of PLN 1,900,000.00 in connection with the implementation of investment tasks carried out by the City of Białogard, and repayment of previously incurred liabilities due to the issue of securities and loans taken out in the amount of PLN 4,200,000.00.
2. Purpose of a long-term loan in the amount of PLN 1,900,000.00:
3. Investment task: "Reconstruction of road infrastructure in the city of Białogard through the reconstruction of Moniuszki and Piastów streets". The task is carried out with the participation of funds from the Government Fund Polish Governance: Strategic Investment Program in the amount of PLN 4,980,000.00. The total financial outlays planned for the implementation of this task in 2023 amount to PLN 5,503,901.74, of which PLN 3,103,901.74 are own contributions.
1. The subject of the contract is the service of granting a long-term loan to cover the planned budget deficit of the City of Białogard in 2023 in the amount of PLN 1,900,000.00 in connection with the implementation of investment tasks carried out by the City of Białogard, and repayment of previously incurred liabilities due to the issue of securities and loans taken out in the amount of PLN 4,200,000.00.
2. Purpose of a long-term loan in the amount of PLN 1,900,000.00:
Investment task: "Reconstruction of road infrastructure in the city of Białogard through the reconstruction of Moniuszki and Piastów streets". The task is carried out with the participation of funds from the Government Fund Polish Governance: Strategic Investment Program in the amount of PLN 4,980,000.00. The total financial outlays planned for the implementation of this task in 2023 amount to PLN 5,503,901.74, of which PLN 3,103,901.74 are own contributions.
4. Purpose of a long-term loan in the amount of PLN 4,200,000.00:
Repayment of installments of loans previously taken out planned for repayment in 2023 in the amount of PLN 850,000.00 and redemption of bonds in the amount of PLN 3,350,000.00.
5. The total value of the loan granted will amount to PLN 6,100,000.00,
6. It is allowed to refund expenses already incurred for repayment of loan installments, redemption of bonds and coverage of the deficit up to the full amount of the loan.
7. Loan period from the date of signing the loan agreement until 30 December 2033
8. Loan utilisation period until 31 December 2023
9. Grace period for repayment of principal installments of the loan until: 29 March 2024
10. Terms of repayment of principal installments of the loan: Installments of the loan granted payable after the grace period, on the following dates and amounts:
29.03.2024 – PLN 100,000.00;
28.06.2024 – PLN 100,000.00;
31.03.2025 – PLN 100,000.00;
30.06.2025 – PLN 100,000.00;
30.06.2026 – PLN 100,000.00;
30.12.2026 – PLN 100,000.00;
30.06.2027 – PLN 150,000.00;
30.12.2027 – PLN 150,000.00;
30.06.2028 – PLN 150,000.00;
29.12.2028 – PLN 150,000.00;
29.06.2029 – PLN 100,000.00;
30.11.2029 – PLN 300,000.00;
29.03.2030 – PLN 300,000.00;
30.09.2030 - 300.000,00 PLN;
31.03.2031 – PLN 300,000.00;
30.09.2031 - PLN 300,000.00;
31.03.2032 – PLN 300,000.00;
30.06.2032 - PLN 200,000.00;
30.09.2032 - 300.000,00 PLN;
30.12.2032 - 850.000,00 PLN;
31.03.2033 – PLN 300,000.00;
30.06.2033 - PLN 200,000.00;
30.09.2033 - 300.000,00 PLN;
30.12.2033 - 850.000,00 PLN;
11. If the loan repayment date expires on a public holiday or non-business day, i.e. the day from Monday to Friday on which the Bank operates, it is considered that the loan repayment date will be met if the loan was repaid on the first business day after the loan repayment date.
11. Interest on the loan is calculated on a quarterly basis, only on the amount of the loan actually disbursed and payable on time on the last working day of each quarter starting from 31 December 2023.
12. The interest rate on the loan will be based on the 3M WIBOR rate. The interest rate on the loan should be calculated based on the 3M WIBOR base rate adopted as a rate set for a period of 3 months at the 3M WIBOR rate from the 25th day of the month ending the calendar quarter or from the last business day before this date, if there are no quotations on a given day and applicable from the 1st calendar day of the next quarter. However, when calculating the amount of interest in the offer, WIBOR 3M should be assumed according to the quotations of 8 September 2023 and the date of payment of the loan in two tranches, i.e. PLN 2,000,000.00 – November 23, 2023, PLN 4,100,000.00 – December 20, 2023.
13. A real calendar should be used to calculate interest on the loan.
14. The loan will be paid "on demand", i.e. on dates and tranches tailored to the needs of the Ordering Party, to the bank account of the City maintained in BS Białogard No. 22 8562 0007 0003 4308 2000 0010, on the basis of