State and municipal finances. Municipal debt (most important)

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State and municipal finances. Municipal debt (most important)

Lecture notes, cheat sheets

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55. Municipal debt

Municipal debt RF is the totality of debt obligations of the municipality. Such debt is fully and unconditionally secured by all municipal property constituting the municipal treasury.

In accordance with the Budget Code of the Russian Federation, debt obligations of a municipality may exist in the form of:

1) loan agreements and contracts;

2) loans made by issuing municipal securities;

3) contracts and agreements on the receipt by the municipality of budgetary credits from the budgets of other levels of the budgetary system of the Russian Federation;

4) agreements on the provision of municipal guarantees.

The debt obligations of the municipality cannot exist in other forms either.

The amount of municipal debt includes the principal nominal amount of debt on municipal securities; the amount of principal debt on loans received by the municipality; the amount of the principal debt on budget loans received by the municipality from the budgets of other levels; the volume of obligations under municipal guarantees provided by the municipality.

Local self-government bodies use all the powers to form local budget revenues to pay off their debt obligations and service the debt.

Debt obligations of the municipality are repaid within the terms determined by the terms of borrowing and cannot exceed 10 years.

The management of the public debt of the Russian Federation is carried out by the Government of the Russian Federation, the management of the public debt of the subject of the Russian Federation is carried out by the executive authority of the subject of the Russian Federation.

In accordance with Article 102 of the RF BC, the Russian Federation shall not be liable for the debt obligations of the constituent entities of the Russian Federation and municipalities, if these obligations were not guaranteed by the Russian Federation. And the subjects of the Russian Federation and municipalities are not liable for each other's debt obligations, if these obligations were not guaranteed by them, as well as for the debt obligations of the Russian Federation.

Author: Novikova M.V.

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