The subject of the contract is to grant the municipality of Santok a long-term loan in the amount of PLN 5,300,000.00 for repayment of previously drawn loans and borrowings in the amount of PLN 5,250,000.00 and to finance the planned municipal budget deficit for 2019 in the amount of PLN 50,000.00 . The loan will be repaid by 20/12/2038.
1. The subject of the contract is to grant the gmina of Santok a long-term loan in the amount of PLN 5,300,000.00 for repayment of previously drawn loans and borrowings in the amount of PLN 5,250,000.00 and to finance the planned municipal budget deficit for 2019 in the amount of PLN 50,000, 00 PLN.
2. Detailed arrangements regarding the subject of the contract:
1) The Contractor shall grant the Employer in 2019 a loan in the Polish currency up to PLN 5,300,000.00 (in words: five million three hundred thousand zlotys 00/100) on the terms specified in the contract;
2) The Employer will allocate funds from the loan to finance the planned budget deficit of the Santok commune for 2019 in the amount of PLN 50,000.00 and repayment of previously drawn loans and borrowings in the amount of PLN 5,250,000.00;
3) Launching the loan from the date of signing the contract according to payment orders as payment requirements arise until December 31, 2019;
4) The loan tranches will be transferred to the Employer's account (basic commune budget account) maintained by the Cooperative Bank in Santok with the number: 57 8372 0008 0000 0316 2000 0003;
5) It is allowed to not use the full amount of the loan without incurring any costs;
6) The amount and deadline for transferring funds will be agreed with the Contractor each time and submitted in the form of an application before launching the tranche by fax or e-mail;
7) The loan interest rate determined quarterly on the basis of the variable WIBOR 3M rate - recorded on the last business day of the quarter preceding the period for which interest is calculated plus a margin in the amount resulting from the offer;
8) Bank margin is a fixed value throughout the loan period;
9) Grace in repayment of capital until December 20, 2020;
10) The loan will be repaid by 20/12/2038.