1. What are the three musts when declaring special bonds? 1. The three musts when declaring special bonds are: The project implementation unit must be marked, the city and county competent department of the project must be indicated, and the provincial-level competent department must be determined.
Only by passing the above three required special bond declarations can you enter the next process.
Many people don’t know what special debt is. In fact, special debt is a bond issued by a local government to build an important project.
The funds obtained from the bonds issued are exclusive funds for this project and cannot be used for other economic entities.
2. Legal basis: Article 2 of the "Interim Measures for the Administration of Local Government Special Bond Issuance": Local government special bonds (hereinafter referred to as special bonds) refer to provincial, autonomous region, and municipal governments (including planned independent bond issuances approved by provincial governments).
Government bonds issued by the municipal government for public welfare projects with certain returns, with an agreement that the principal and interest will be repaid within a certain period of time with government funds or special revenue corresponding to the public welfare projects.
_, What materials are needed to declare special bonds? After the special bond quota is issued, we must start to produce a set of bond declaration materials.
Judging from the situation in various provinces and cities, they are all led by the municipal and county finance bureaus, with the cooperation of relevant functional departments.
Application materials include information disclosure documents, project income and financing capital balance cases, financial evaluation reports, legal opinions, and credit rating reports.
In order to reduce distribution costs, some provinces and cities have departments of finance uniformly compose information disclosure documents and letter rating reports.
Because the credit rating report of each bond is basically the credit endorsement of the local government, and the basic situation is basically similar, there is no need to hire a rating agency for every bond.
The Department of Finance only needs to find a rating agency, sign a _ year contract with them, and get a package price, which will save a lot of money.
Therefore, in some cases, each city or county finance bureau only needs to provide three documents: project income and financing balance sheet, financial evaluation report, and legal opinion when issuing bonds.
The Finance Bureau hires various intermediaries to prepare the entire application materials. The intermediaries mainly include accounting firms and law firms.
The functions of each firm are: 1. Accounting firm: evaluate the project capital balance and issue two copies of project income and financing capital balance cases and financial evaluation reports; in fact, the project income and financing balance
The financing balance sheet should have been written by the Finance Bureau, but in practice it is generally completed by the accountant in collaboration with the Finance Bureau.
2. Law firm: conduct legal and compliance review of the project and issue a legal opinion.
Some places will also find banks or securities companies to be the lead agency for the entire bond issuance application materials. The main function of the lead agency is to be entrusted by the Finance Bureau to provide them with full-process services for bond issuance.
Including policy consultation, guiding accounting firms and law firms in the preparation of application materials, coordinating the work of accounting firms and law firms, and including the progress of bond issuance and overall control of the quality of bond issuance materials, etc.
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