In order to effectively regulate the management of special bond funds, ensure the safe and efficient operation of funds, and give full play to the efficiency of the use of special bond funds, the following measures for the management of the use of special bond funds are formulated. 1, requirements for the use of special bond funds (1). The use of special bond funds should strictly correspond to the capital expenditure of the project, and no unit or individual may intercept, occupy or misappropriate it, or use it for recurrent expenditure, or adjust the use of the project or funds, and complete the expenditure within the specified time. (2) the scope of use of special bond funds. When compiling "one case, two books", the relevant engineering expenses shall be paid according to the construction content, and other engineering expenses other than the construction content shall not be paid. 2. Special bond fund disbursement information (1) The competent project department is responsible for the approval and supervision of special bond fund disbursement, and the project management user is responsible for the authenticity, integrity and compliance of the information provided. The project management and user unit must provide the following information to the enterprise or individual who implements the project: the relevant documents that the land price to be paid for the project construction is allocated to the construction land; Pay necessary expenses in the process of project planning, design and construction, and provide payment materials, including but not limited to: approval documents of development and reform department, bid-winning notice, construction contract, supervision contract, bill of quantities, project progress plan (confirmed by supervision unit), payment application of construction unit, payment voucher of supervision unit, project photos, etc. (2) Four copies of special bond fund disbursement information. The Finance Bureau, the competent department of the project, the project management unit and the specific project implementation enterprise each keep one copy.
Legal basis:
Interim Measures for the Administration of General Bond Issuance of Local Governments
Article 1 In order to strengthen the management of local government debt, standardize the issuance of bonds by local governments and protect the legitimate rights and interests of investors, these Measures are formulated in accordance with the Budget Law and the Opinions of the State Council on Strengthening the Management of Local Government Debt (Guo Fa).
Article 2 General bonds of local governments (hereinafter referred to as general bonds) refer to government bonds issued by the governments of provinces, autonomous regions and municipalities directly under the Central Government (including cities with separate plans approved by provincial governments) for non-profit public welfare projects, and it is agreed that the principal and interest shall be paid mainly from general public budget revenue within a certain period of time.
General bonds are in the form of book-entry fixed-rate interest.
Article 3 The debts borrowed by provinces, autonomous regions and municipalities directly under the Central Government according to the quota issued by the State Council shall be included in the budget adjustment plan at the corresponding level and reported to the Standing Committee of the people's congress at the corresponding level for approval. The revenue and expenditure of bond funds are included in the general public budget management.
Article 4 The term of general bonds is divided into 65,438+0 years, 3 years, 5 years, 7 years and 65,438+00 years, which shall be reasonably determined by various localities according to factors such as capital demand and bond market conditions. However, the issuance scale of bonds with a single term shall not exceed 30% of the issuance scale of general bonds in that year.
Article 5 General bonds shall be voluntarily repaid by local governments in accordance with the principle of marketization, and the principles of openness, fairness and impartiality shall be followed. The main body of issuance and repayment is the local government.
Article 6 All localities should carry out general bond credit rating in accordance with relevant regulations, 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 7 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 8 All localities shall timely disclose the basic information of general bonds, financial and economic operations and debts.
Article 9 Information disclosure shall follow the principle of good faith, and there shall be no false records, misleading statements or major omissions.
Investors independently analyze the disclosed information, independently judge the investment value of general bonds, and bear their own investment risks.
Article 10 When a general bond underwriting syndicate is established in various places, the members of the underwriting syndicate shall be financial institutions legally established within the territory of China, with bond underwriting business qualifications, and indicators such as capital adequacy ratio, solvency or net capital status meet regulatory standards.
Article 11 The financial department of a local government shall sign a bond underwriting agreement with the general bond underwriter to clarify the rights and obligations of both parties. Underwriters may entrust their branches to sign and perform bond underwriting agreements in writing.
Article 12 All localities may choose the lead underwriter among the general bond underwriters, and the lead underwriter shall provide consulting services for the issuance and pricing, registration and custody, and listing of general bonds.
Thirteenth general bond issuance rate is determined by underwriting, bidding and other means. If underwriting or bidding is adopted, the issuance interest rate 1 shall be determined 0 to 5 working days before the underwriting or bidding date, which is higher than the average yield of book-entry treasury bonds with repayment period.
Underwriting refers to the bond issuance mechanism in which the local government and the lead underwriter agree on the bond underwriting interest rate (or interest rate range), requiring all underwriters (including the lead underwriter) to submit the bond underwriting amount (or underwriting interest rate and underwriting amount) within a specified time, and determining the bond issuance interest rate and the bond underwriting amount of each underwriter according to the market principle.
Bidding refers to the bond issuance mechanism in which local governments require underwriters to submit the bid amount and bid interest rate of bonds within a specified time through the national debt issuance bidding system of the Ministry of Finance or other electronic bidding systems, and determine the bond issuance interest rate according to the principle of low interest rate to high interest rate.
Article 14 When underwriting the issuance of general bonds, all localities shall negotiate with the lead underwriter to determine the underwriting rules, and clarify the underwriting methods and the principle of offering.
When issuing general bonds by means of bidding, all localities should formulate bidding rules, and clarify the bidding method and the principle of winning the bid.
Article 15 All localities should strengthen the on-site management of bond issuance and pricing, and ensure that there are no acts that violate fair competition, transfer interests, seek illegitimate interests directly or indirectly, and disrupt market order in the process of issuance and pricing.
Article 16 All localities should actively expand the scope of general bond investors and encourage institutional investors and individual investors such as social insurance funds, housing accumulation funds, enterprise annuities, occupational annuities and insurance companies to invest in general bonds on the premise of complying with relevant laws and regulations.
Seventeenth localities should publish the results of bond issuance in a timely manner through the China bond information network, local portals and other media after the general bond issuance pricing.
Article 18 General bonds are generally registered and managed by China Government Securities Depository and Clearing Co., Ltd., and sub-items are registered and managed by securities registration and clearing institutions prescribed by the state. After the issuance of general bonds, eligible bonds shall be listed and traded in the national inter-bank bond market and the bond market of stock exchanges in a timely manner in accordance with relevant regulations.
Article 19 The general bond interest income obtained by enterprises and individuals shall be exempted from enterprise income tax and individual income tax in accordance with the Notice of the Ministry of Finance on Exempting Interest on Local Government Bonds in State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) (Caishui [2013] No.5).
Twentieth all localities should earnestly fulfill their obligations to repay debts, timely pay the principal and interest of bonds, issuance fees and other funds, and maintain the credibility of the government.
Twenty-first registration and settlement institutions, underwriting institutions, credit rating agencies and other professional institutions and personnel should be diligent and conscientious, and strictly abide by professional norms and relevant rules. Those who practise fraud and violate laws and regulations shall be included in the negative list and publicized to the public. Those suspected of committing a crime shall be transferred to judicial organs for handling.
Twenty-second offices of the financial Ombudsman of the Ministry of Finance in various places shall strengthen the supervision and inspection of general bonds and standardize the issuance, use and repayment of general bonds.
Twenty-third all localities should promptly report the relevant provisions of the local general bond issuance arrangement, credit rating, information disclosure, underwriting syndicate formation, issuance and payment to the Ministry of Finance for the record. Major issues in the issuance and redemption of general bonds shall be reported to the Ministry of Finance in a timely manner. After each issuance of general bonds, the issuance of bonds shall be reported to the Ministry of Finance and the local financial Ombudsman's office of the Ministry of Finance within 15 working days; After the completion of the annual issuance, the annual issuance shall be reported to the Ministry of Finance and the local financial Ombudsman office of the Ministry of Finance within 20 working days.