Local government bond issues data |
Functions attributions distribution |
Loans conditions criteria |
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issue date |
date |
|
national |
regional |
local |
credit cover amount |
% |
|||||
issue |
amount disposed |
trade & industry promotion |
+ |
++ |
+ |
amortization |
years |
|||||
purpose |
|
non trade activities promotion |
+ |
+++ |
+ |
grace period |
1 - 5 years |
|||||
status & security |
kind of investment |
land property |
+++ |
+ |
++ |
amortization system |
month/ trimester/ quarter/year |
|||||
form & denomination |
notes |
sanitation |
|
+ |
++ |
interest payments |
|
|||||
guarantor |
institution |
incomes |
|
+ |
+++ |
rediscount |
% |
|||||
market |
place |
VAT |
+++ |
+ |
++ |
fees flat |
1 - 2% |
|||||
maturity |
years |
public servant salaries |
++ |
++ |
+ |
Local governments common financing sources |
||||||
amortization |
type |
revenues management |
++ |
+++ |
+ |
|
proportion |
|||||
rating |
if ever |
professional |
+ |
++ |
+++ |
taxes |
0.27 |
|||||
law |
reference |
taxes on dividents |
++ |
++ |
+ |
subsidies |
0.53 |
|||||
listing |
if ever |
vehicles taxes |
+ |
++ |
+ |
loans |
0.09 |
|||||
lead manager |
financial institution |
planning |
+ |
++ |
+++ |
others |
0.15 |
|||||
paying agent |
financial institution |
Infrastructure funding approaches compared |
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performance |
|
|
taxes states |
taxes municipal |
debt |
user charges |
producers levies |
|||||
public anticipation |
if ever |
effective |
yes |
no |
yes |
no |
? |
|||||
other condition |
% relevant |
efficient |
no |
yes |
no |
yes |
no |
|||||
Landmarks common interest rates |
fair/equitable |
yes |
yes |
yes |
yes |
no |
||||||
microfiance |
0.03 - 0.1 |
reliable |
yes |
no |
yes |
yes |
no |
|||||
Public services investments |
0.1 - 0.20 |
low administration costs |
yes |
yes |
yes |
no |
yes |
|||||
Non profit loans credits cooperative |
0.15 - 0.25 |
low compliance costs, certain transparent |
yes |
yes |
yes |
yes |
no |
|||||
Bond emitted rates |
0.05 - 0.15 |
stakeholder support |
no |
yes |
no |
yes |
yes |
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Local Government Investments Matrix |
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|
national |
regional |
communities |
local |
projects |
private |
commont weight on debt |
|||||
drinkable water |
|
|
|
|
|
|
0.06 |
|||||
electricity |
|
|
|
|
|
|
0.05 |
|||||
public transports |
|
|
|
|
|
|
0.02 |
|||||
trade equipments |
|
|
|
|
|
|
0.05 |
|||||
special equipments |
|
|
|
|
|
|
0.005 |
|||||
urban works |
|
|
|
|
|
|
0.4 |
|||||
sport, social equipments |
|
|
|
|
|
|
0.02 |
|||||
water sanitation |
|
|
|
|
|
|
0.05 |
|||||
solidwaste sanitation |
|
|
|
|
|
|
0.05 |
|||||
common weight on debt |
|
0.1 |
0.2 |
0.1 |
0.05 |
|
|
|||||
2001 Municipal authority revenue sources |
Municipal debt limitations |
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|
Australia |
Canada |
USA |
country |
Debt service ration limit |
Borrowing to revenue ratio limit |
Other restrictions |
|||||
property tax |
yes |
yes |
yes |
Hungary |
0.7 of own current revenues Debt service includes potential liability under guarantee commitments |
none |
Independent audits / outstanding loans & expenses over ... Loans cannot be secured with primary assets, genral State transfers or shared personal income tax Debt service restriction not apply to short term liquidity loans |
|||||
sales tax |
|
|
yes |
|||||||||
hotel/motel tax |
|
rare |
yes |
|||||||||
business tax |
|
|
yes |
|||||||||
fuel tax |
|
rare |
yes |
Lithuania |
0.1 of total revenue excluding earmarked grant |
not > 0.1 of total budg. Revenues not >0.05 for short term |
Debt stock limited to 0.2 of total revenue. Short term to be repaid in the fiscal year. No State guarantee Ministry of Finance can impose ceiling. Long term credit only on investment & to be approved by MoF |
|||||
license fees |
yes |
yes |
yes |
|||||||||
income tax: individual & corporate |
|
|
yes |
Poland |
0.15 of tot.rev.(include potential liability under guarantee commit. |
none |
Short term l. to be repaid in fiscal year. No state guarantee unlessstated. Long term credit only for investment. Carry-forward of unpaid principal on all debt to next budget cannot > 0.6 of budg.rev. |
|||||
development charges |
yes |
yes |
yes |
|||||||||
Tax-exempt municipal bonds |
|
|
yes |
Romania |
0.2 of current revenue |
none |
No state guarantee (clause to be included). Debt incurred must be reported & registered yearly. Short term cash balance limited to 0.05 of tot.rev. External borrowing must be approved by a loan authorization commission |
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tax incentives user fees & charges |
yes |
yes |
yes |
|||||||||
borrowing |
yes |
yes |
yes |
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