1. The subject of the contract is the service of granting a long-term loan to finance the planned budget deficit of the Mogileński District in the amount of PLN 6,900,000.00 (six million nine hundred thousand zlotys).
2. The loan will be launched without cash, according to the borrower's instructions, in the period from signing the contract to 31/12/2019. To calculate the value of the offer, it is assumed that the loan will be paid once on 20/11/2019.
3. Loan period: the period from the date of signing the contract to the day of repayment of the last installment of the loan, ie 31.12.2032.
4. The Bank will not charge commissions and fees for the credit granted, and the only cost for the Employer will be interest.
5. Repayment of loan principal:
a) The repayment of capital installments will take place in monthly installments in 2020-2032, according to the schedule presented in the ToR.
Capital installments will be repaid on the last business day of each month starting from January 2020.
The exact description contained in the ToR
1. The subject of the contract is the service of granting a long-term loan to finance the planned budget deficit of the Mogileński District in the amount of PLN 6,900,000.00 (six million nine hundred thousand zlotys).
2. The loan will be launched without cash, according to the borrower's instructions, in the period from signing the contract to 31/12/2019. To calculate the value of the offer, it is assumed that the loan will be paid once on 20/11/2019.
3. Loan period: the period from the date of signing the contract to the day of repayment of the last installment of the loan, ie 31.12.2032.
4. The Bank will not charge commissions and fees for the credit granted, and the only cost for the Employer will be interest.
5. Repayment of loan principal:
a) The repayment of capital installments will take place in monthly installments in 2020-2032, according to the schedule;
The repayment of capital installments will take place on the last business day of each month starting from January 2020;
b) The above method of loan principal repayment will be confirmed in the concluded contract concluded between the Employer and the Contractor.
c) The Purchaser reserves the right to change the loan period by extending it due to:
Important public interest
Calculated individual debt repayment rate, referred to in the Public Finance Act,
Other statutory changes in the area of debt service.
The above change will be made at the request of the Employer submitted to the Contractor (Bank) 30 days before the installment repayment date, without charging the Employer with additional costs. The change requires the Bank's consent and signing of an annex to the contract;
d) The Purchaser reserves the right to change the loan repayment schedule during the term of the contract, without incurring additional costs (commissions and other fees). The change requires the Bank's consent and signing of an annex to the contract. The change will be made at the request of the Employer submitted to the Contractor (Bank) within not less than 20 business days before the installment repayment date;
e) If the loan is repaid before the repayment date, interest will be calculated to the day preceding the repayment day, and not to the end of the contract period;
f) The Purchaser reserves the right to repay the loan early or its installments, without incurring additional costs, while notifying the Purchaser 5 business days before the repayment date.
6. The Contractor may not make the granting of the loan conditional on the takeover of the Employer's banking service and the insurance of the loan by the Employer.
7. The loan is secured by a blank promissory note together with a promissory note declaration (the Poviat Treasurer will countersign with the promissory note and promissory note declaration).
8. Credit interest rate (interest):
a) The loan interest rate is set as the variable 3M WIBOR rate and the contractor's (bank) fixed margin;
b) The actual calendar is used to calculate the interest rate due to the Bank for granting the loan;
c) The Contractor's (bank's) margin may not change throughout the duration of the contract. Interest will be calculated and charged on the loan used;
d) Interest on the loan used will be calculated on the amount of the current debt;
e) Interest shall be repaid on the last business day of each month, starting from the month in which it was launched.
9. The loan interest rate will change on a quarterly basis by assigning a 3M WIBOR rate from the last business day of the previous quarter. The changed interest rate applies from the first day of the calendar quarter.
10. The Contractor will each time notify the Employer to the following e-mail addresses: sekretariat@powiat.mogilno.pl; skarbnik@powiat.mogilno.pl
up to 5 days before the repayment date.