International Bank for Reconstruction and Development (IBRD) Board of Governors resolution ; no. 140 : increase in subscription of Colombia to capital stock of Bank

 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT BOARD OF GOVERNORS Resolution No. 140 Increase in Subscription of Colombia to Capital Stock of Bank RESOLVED: THAT, pursuant to Article II, Section 3(b) of the Articles of Agreement of the Bank, the Board of Governors hereby authorizes the acceptance by the Bank of the subscription of Colombia to 233 shares of the capital stock of the Bank in addition to the 700 shares of said capital stock heretofore subscribed by Colombia, upon the following conditions: (a) That the subscription price per share shall be $100,000 in terms of United States dollars of the weight and fineness in effect on July 1, 1944; (b) That Colombia’s subscription shall be received by the Bank on or before September 15, 1960, provided, however, that if extraordinary circumstances are deemed by the Executive Directors to warrant an extension of this date, the Executive Directors may extend it; (c) That before such subscription shall be accepted by the Bank, (i) Colombia shall have taken all action which may be necessary to authorize such subscription and shall have furnished to the Bank such information thereon as the Bank may request, and (ii) Colombia shall have paid to the Bank, on account of the subscription price of one-half of such additional shares, 2% in gold or United States dollars and 18% in currency of Colombia; and (d) With respect to the subscription price of the other one-half of such shares, the 2% portion payable in gold or United States dollars and the 18% portion payable in the currency of Colombia shall be left uncalled, as set forth in Resolution No. 129, on the same basis as the 2% and 18% portions of subscriptions made pursuant to Resolution No. 128 of the Board of Governors. (Adopted on July 18, 1960)