1. The subject of the contract is to grant a long-term loan in the amount of PLN 10,000,000.00 to finance the planned budget deficit of the Libiąż Municipality on the following conditions:
1) The loan will be granted in three tranches: 1st tranche of PLN 2,500,000.00 on 16/09/2019, 2nd tranche of PLN 3,000,000.00 on 14/10/2019, 3rd tranche of 4 PLN 500,000.00 on 12/11/2019.
2) The Awarding Entity reserves the right not to use the whole loan granted (reduction of the last tranche or resignation from it) without incurring any additional fees and commissions.
3) Loan period - until 31/12/2029.
1. The subject of the contract is to grant a long-term loan in the amount of PLN 10,000,000.00 to finance the planned budget deficit of the Libiąż Municipality on the following conditions:
1) The loan will be granted in three tranches: 1st tranche of PLN 2,500,000.00 on 16/09/2019, 2nd tranche of PLN 3,000,000.00 on 14/10/2019, 3rd tranche of 4 PLN 500,000.00 on 12/11/2019.
2) The Awarding Entity reserves the right not to use the whole loan granted (reduction of the last tranche or resignation from it) without incurring any additional fees and commissions.
3) Loan period - until 31/12/2029.
4) Repayment of loan (capital) from 2021. Capital repayment in 2021–2029, quarterly, by March 31, to June 30, to September 30 and to December 31 each year. Installments in 2021 in the amount of PLN 40,000.00, in 2022 in the amount of PLN 60,000.00, in 2023 in the amount of PLN 150,000.00, in 2024 in the amount of PLN 200,000.00, in 2025 in the amount of PLN 250,000.00, in the years 2026-2028 in the amount of PLN 400,000.00, in 2029 in the amount of PLN 600,000.00.
5) The amount of quarterly capital repayments may change depending on the actual use of the loan and will be determined after 12/11/2019 (i.e. the final date of the loan release).
6) Repayment of interest from 2020. Interest for the period from 16/09/2019 to 31/12/2019 will be payable in January 2020. The next interest will be payable on a quarterly basis, in the month following the end of the quarter for which they are calculated. The last interest will be payable by December 31, 2929.
7) The loan interest rate will be variable, depending on the three-month WIBOR rate, calculated as the arithmetic average of the quotations between the first and last day of the quarter preceding the quarter for which interest is calculated, adjusted by the bank's fixed margin.
8) Interest will be calculated based on the actual debt balance. When calculating interest, it is assumed that the month has the actual number of days and the year has 365 days.
9) The Bank will charge a one-off commission on the loan granted - due to the grace period in paying interest, the commission is obligatory pursuant to art. 92 of the Act of 27.8.2009 on public finances (consolidated text of the Journal of Laws of 2019, item 869).
10) Lending will take place without the need to open an auxiliary account.
11) The cost of the loan consists of interest and commission on the loan granted. No additional fees may be charged (e.g. transfers, opinions).
12) The Purchaser reserves the right to early repayment of the loan or selected parts thereof without adding any fees, penalties, etc.
13) The loan will be secured by a blank promissory note.
14) Employer, pursuant to art. 29 paragraph 3a of the Public Procurement Law, requires employment by a contractor on the basis of an employment contract of persons performing all activities related to the administrative and accounting support of the loan.
15) During the contract, the contracting authority is entitled to perform inspection activities against the contractor regarding the contractor's compliance with the employment requirement under the employment contract of the persons performing the activities specified in point 14). The contracting authority is entitled in particular to:
1) demand statements and documents regarding confirmation of compliance with the abovementioned requirements and assessing them,
2) demand explanations in case of doubts as to confirmation of compliance with the abovementioned requirements
3) carry out controls at the place of performance.
A detailed description of the order has been described in chapter III of the ToR.