LAW OF THE REPUBLIC OF ARMENIA

of November 19, 2007 No. ZR-225

About modification and amendments in the Law of the Republic of Armenia "About local self-government"

Accepted by National Assembly of the Republic of Armenia on October 24, 2007

Article 1. In article 56 of the Law of the Republic of Armenia "About local self-government" (on May 7, 2002, ZR-337):

1) the offer of one part 3 after the word of "loan" to add with words "free balance of the budget of municipality for the beginning of year, the budget advances obtained from return,";

2) in part 5:

and. to add the Item "and" after words of "administrative part" with words "provided with financing sources", the words "the amount of means of free remaining balance for the beginning of year" shall be replaced with words "the amounts of means of free remaining balance for the beginning of year, and also result of difference of the amount which is subject to obtaining in this year from return of means of the loans allowed from administrative part of the budget of municipality in the years preceding this year and the amount, due for settlement in this year from administrative part of the budget of municipality through the loan obtained in last years";

. in the Item of the word "the amount of deficit (shortage) of share part (without the state participation in the authorized capital of legal entities, the means from alienation of the real estate which is considered as state-owned property, deducted in this year in the budget of municipality, and also the expenses performed at the expense of means of free remaining balance for the beginning of year of this year)" shall be replaced with words "the amount net (in the amount of positive difference of the received and extinguished borrowed funds) receipts of the borrowed funds (including from release of municipal securities) raised for the purpose of financing of deficit (shortage) of share part", and the word of "transfers" - the word of "grants".

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