Exhibit 4.5
ENGLISH TRANSLATION
FIRST AMENDMENT TO THE CONTRACT
FOR ASSIGNMENT OF CREDIT OF THE
REMAINING BALANCE OF THE REVENUE
COMPENSATION ACCOUNT - CRC
ENTERED INTO BY THE STATE OF MINAS
GERAIS, THROUGH THE OFFICE OF THE
STATE TREASURY SECRETARY, AND
COMPANHIA ENERGETICA DE MINAS
GERAIS - CEMIG
The STATE OF MINAS GERAIS, through the Office of the State Treasury
Secretary, with its head office at Praca da Liberdade, in Belo Horizonte/MG
(Brazil), registered with the General Taxpayer's Registry (CNPJ) under no.
18,715,615/0001-60, hereby represented by the State Treasury Secretary, Xx.
Xxxx Xxxxxxx Xxxxxx Xxxx, hereinafter referred to as the STATE, and COMPANHIA
ENERGETICA DE MINAS GERAIS - CEMIG, a state-controlled company with its head
office in Belo Horizonte/MG (Brazil), at Av. Barbacena, no. 1,200, registered
with the General Taxpayer's Registry (CNPJ) under no. 17,155,730/0001-64,
hereby represented by its Chief Executive Officer, Xx. Xxxxxx Xxxxxx xx
Xxxxxx, and by its Chief Financial Officer, Xx. Xxxxxxxxx Xxxxxx xx Xxxxxx,
hereinafter referred to as CEMIG;
Whereas:
a) Pursuant to The Assignment of Credit of the Remaining Balance of the
Revenue Compensation Account - CRC, hereinafter the CRC Agreement,
executed on May 31, 1995, between the STATE and CEMIG, 852,851,282.9305
UFIR has been transferred to the STATE, corresponding, on May 2, 1995, to
R$602,198,290.88 (six hundred and two million, one hundred and ninety
eight thousand, two hundred and ninety reais and eighty eight cents);
b) Law no. 8,383, dated December 30, 1991, which established the UFIR, set
forth that its correction would be in accordance with the IPCA-E, per
Article 2nd, second paragraph;
c) Provisional Measure no. 1973-67, dated October 26, 2000, extinguished the
Fiscal Unit of Reference -UFIR, pursuant to Article 29, third paragraph;
d) Clause Six of the CRC Agreement sets forth that in the event the UFIR is
extinguished, the readjustment of the balance will automatically be made
in accordance with IPG-DI;
e) The State Attorney, through Opinion no. 11,707 of January 16, 2001,
argued in favor of the correction of the balance due under the CRC
Agreement, in accordance with the IPCA-E, for the period from January to
October of 2000.
Decide to amend the CRC Agreement, as follows:
First Clause
The sole paragraph of Clause Six of the CRC Agreement is amended as follows:
"Sole Paragraph
For the months from January to October of 2000, the balance shall be
readjusted in accordance with the IPCA-E and, for the months of
November and December of 2000, it shall be corrected in accordance with
the IGP-DI, calculated by Fundacao Xxxxxxx Xxxxxx."
Second Clause
Except as expressly amended hereby, the CRC Agreement shall remain unmodified
and in full force and effect as originally agreed.
IN WITNESS WHEREOF, the parties have caused this amendment to be executed in
three counterparts of equal tenor and content, as of the date hereof.
Belo Horizonte-MG (Brazil), February 24, 2001
/s/ Xxxx Xxxxxxx Xxxxxx Xxxx
----------------------------
STATE OF MINAS GERAIS
/s/ Xxxxxx Xxxxxx xx Xxxxxx /s/ Xxxxxxxxx Xxxxxx xx Xxxxxx
--------------------------- ------------------------------
COMPANHIA ENERGETICA DE MINAS GERAIS
Xxxxxx Xxxxxx xx Xxxxxx Xxxxxxxxx Xxxxxx xx Xxxxxx
Chief Executive Officer Chief Financial Officer
/s/ Xxxxx Xxxxxx xx Xxxxx /s/ Xxxxx Xxxxxxx Xxxxx
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WITNESSES
2
