1. The subject of the contract is: granting a long-term loan in the amount of PLN 3,200,000.00 (in words: three million two hundred thousand zlotys) to finance the planned budget deficit in 2023 and repayment of previously incurred liabilities due to the issue of municipal bonds and long-term loans.
2. Basis for taking out a loan Resolution No. LII/427/23 of the City Council in Strzyżów of June 29, 2023 on taking and securing a long-term loan.
3. Credit characteristics:
1) The loan will bear interest at a variable interest rate constituting the sum of the base rate and the bank's fixed margin, determined for monthly periods using the following principles:
a) Loan amount – PLN 3,200,000.00;
b) The base rate is WIBOR 1M (Reference rate calculated and set for monthly periods corresponding to calendar months. The change takes place every first day of the following month in which the new WIBOR rate applies).
1. The subject of the contract is: granting a long-term loan in the amount of PLN 3,200,000.00 (in words: three million two hundred thousand zlotys) to finance the planned budget deficit in 2023 and repayment of previously incurred liabilities due to the issue of municipal bonds and long-term loans.
2. Basis for taking out a loan Resolution No. LII/427/23 of the City Council in Strzyżów of June 29, 2023 on taking and securing a long-term loan.
3. Credit characteristics:
1) The loan will bear interest at a variable interest rate constituting the sum of the base rate and the bank's fixed margin, determined for monthly periods using the following principles:
a) Loan amount – PLN 3,200,000.00;
b) The base rate is WIBOR 1M (Reference rate calculated and set for monthly periods corresponding to calendar months. The change takes place every first day of the following month in which the new WIBOR rate applies).
(c) Settlement periods in which the interest rate will apply according to calendar months: the first settlement period of the fixed borrowing rate begins on the starting point of credit and ends on the last day of the calendar month in which the credit is disbursed, the last period of validity of the fixed borrowing rate begins on the first day of the calendar month in which the final repayment date of the credit falls, and ends on the day preceding its repayment inclusive;
d) Interest rate per annum – according to the submitted offer (the actual number of days in a month, the base rate WIBOR 1M of 14/06/2023, the bank's fixed margin and the planned schedule of capital repayment in the manner specified in paragraph 3 point 2 should be used to calculate the interest rate in the offer);
e) In order to calculate the value of the contract, it is assumed that the loan is released in one full tranche on 01.11.2023;
f) The date of placing the loan at the disposal of the Ordering Party in the amount of PLN 3,200,000.00 – from the date of conclusion of the contract;
g) The Ordering Party allows the loan to be released in tranches after the Ordering Party has submitted a demand for the amount of funds;
h) Frequency of payments of principal and interest installments – every 1 month;
i) Grace period for capital installments – until 2023; repayment of the first principal installment will be on 31.01.2024;
j) Repayment date of subsequent principal and interest installments – the last calendar or business day of a given month, in accordance with the rules applied by the bank;
k) Number of capital installments – 204;
(l) Rounding of amounts to 2 decimal places (according to the principle that from 3 decimal places onwards, values 0 to 4 are rounded down and values from 5 to 9 are rounded up);
m) Method of determining installments – capital;
n) Method of collecting interest – according to the loan balance (formula 365/365);
o) The bank commission for granting the loan – according to the submitted offer – will be charged on the loan tranche actually used;
p) The Contractor will not charge an additional commission for early repayment of the loan;
q) The Contractor will not charge an additional commission for the unused part of the credit;
r) The calculation of interest shall be delivered by the Contractor to the Contracting Authority at least 5 days before the date of payment by e-mail or post. Each interest instalment (Ro) is:
number of days in a month – the real number of days in a given accounting period;
- number of days in a year – 365 (366)
3) The interest rate on the loan is to be variable, assuming that in the accounting period (monthly) the principle of a fixed interest rate applies.
4) The total cost of granting and servicing the loan by the Contractor shall be the sum of the value of all interest installments and a one-off bank commission for the used given tranche of the loan.
5) The bank commission for granting the loan will be paid by the Ordering Party by bank transfer.
6) The Ordering Party does not allow valorisation, changes in commissions or the application of other handling fees,