Legal basis: Interim Measures for the Administration of Issuing Special Bonds by Local Governments.
Article 3 The book-entry fixed interest rate method is adopted for special bonds.
Article 4 A single special bond shall take a single government fund or special income as the source of debt repayment. A single special bond can be issued for a single project or for multiple projects.
Article 5 The term of special bonds is divided into 65,438+0 years, 2 years, 3 years, 5 years, 7 years and 65,438+00 years, which shall be reasonably determined by all localities taking into account the project construction, operation, payback period and bond market conditions, but the total issuance scale of 7-year bonds and 65,438+00-year bonds shall not exceed 50% of the annual issuance scale of special bonds.
Article 6 Special bonds shall be voluntarily repaid by local governments in accordance with the principles of marketization and openness, fairness and justice, and the main body of issuance and repayment shall be local governments.
Article 7 All localities shall, in accordance with the relevant provisions, conduct credit rating on special bonds, select the best credit rating agencies, and sign a credit rating agreement with the credit rating agencies to clarify the rights and obligations of both parties.
Article 8 Credit rating agencies shall carry out credit rating work in accordance with the principles of independence, objectivity and impartiality, abide by credit rating laws and regulations and business norms, and issue credit rating reports in a timely manner.
Article 9 All localities shall, in accordance with relevant regulations, timely disclose the basic information of special bonds, financial and economic operations and related debts, fundraising projects and corresponding government funds or special income, risk disclosure and other information that has a significant impact on investors' purchase decisions.