It corresponds to the amount of financial obligations taken by the State (Known as Consolidated Debt according to LRF, Art. 29, I). According to the Senate resolution, it can not exceed the double of the current net revenue.
Art. 29, I –Consolidated or funded public debt: The Total amount, defined without duplicity, regarding the financial obligations of the federation entity, acquired by laws, contracts, agreements and partnerships or treaties and credit operations, for amortization in periods superior to 12 months. Ceará State, according to Art. 3º, I of Federal Senate resolution nº 40/01, written below, must not exceed the limit of 200% of the Liquid Current Revenue, already explained, for the concession of those guarantees. Art. 3º : The states consolidated debts, federal district and cities, at the end of the fifteenth fiscal period, counted after the publication year of this resolution, must not exceed, respectively, to: I – For states and the Federal District: the double of the current net revenue, defined in art. 2º.
