Concerning The Problem Of Local Governments To Issue Bonds And Legal Regulation

The right of local fiscal autonomy is the basis of local self-government, local government issued debt is an important connotation of local fiscal autonomy. Local government bond issue is the fundamental premise of requires local governments to have relatively independent financial powers, can take a local Government’s own revenues to pay off the debts. Although the issue of local government’s claims that differences exist, but recognized the point of views that local governments have issued debt also gradually increased. As a single system of developing countries, the ability to enjoy the corresponding claims of the local governments in our country related to deepening the reform of tax and the market economy and prosperity, constitutional issues involving central and local powers. Conferred on the claims made by the local Government must, allowing local governments to issue bonds, not only is the necessary requirement for the development of the market economy, is also a good opportunity for constitutional reform. Form now on, our country Local authority not explicit release local loan authority, but the local authority in fact already has made the attempt through financing platform some ways on the bond issue, therefore, although the local authority bond issue has some problems, but entrusts with the local authority to send the creditor’s rights to carry on the rules and regulations from the legal aspect was worth studying.The first chapter on the issue of local government bonds for the theoretical analysis, define the claims made by the local government, analysis of the rationality of allowing local governments to issue bonds, for local government-issued bonds provides a theoretical basis.The second chapter of this paper mainly discussed the problems of China’s local governments in the process of issuing bonds, and the system design of China’s local governments issue bonds to provide a useful point of views.The third chapter mainly discussed how to ensure that local government issues bonds healthy and efficiently. Firstly, issue of bonds should be guided by the public, proportional, and equal protection you can count on, the public interest, such as the principles of public law, followed by the local government bond issues by thinking a specific regime, including the legislative issue of bonds on the subject, scope, purpose, as well as issues such as interest rates, and also to clear the law of the Budget Act, and to modify the relevant legal system, establishment of strict barrier system of approval, and the disclosure of information systems, as well as credit-rating system to eliminate local governments issue bonds with the risk and to achieve the goal of local governments issue bonds in light of the rule of law and guarantee the smooth release.