Government of the Republic of Serbia
The municipality of Stara Pazova announced on 28 April that through a first public issuing between 4 and 19 May it would sell bonds to a total value of 125 million dinars, purchasable by all legal entities and citizens from the country and abroad. They will be five-year dinar bonds indexed in euros, with a fixed interest rate of 6% annually, and the funds collected will be used for capital projects of assistance to citizens. The municipality expects to gain the trust of citizens and investors by way of issuing bonds. This is the second offer of bonds by the municipality of Stara Pazova, after issuing bonds with the same value, but for a known buyer, one year ago.
“The issuing of municipal bonds will be used to finance the construction of the ‘Radost’ kindergarten in the settlement of Belegiš, the sports hall with a bowling alley in the ’23. oktobar’ primary school in the settlement of Golubinci, as well as the reconstruction and organization of the center in Nova Pazova”, said the assistant president of the municipality of Stara Pazova, Goran Savić.
The general secretary of the SCTM Đorđe Staničić noted that the example of the municipality of Stara Pazova indicates that in Serbia it is possible to use all financial instruments for procuring funds for capital projects, while at the same time it represents a way for the local self-government to come closer to the citizens. He noted that SCTM provided support to all towns and municipalities that have issued bonds through the EU Exchange programme. “The public issuing of municipal bonds by Stara Pazova is also important for other local self-governments, because it shows how other municipalities and towns can collect new funds for capital projects”, said Staničić.
Source: Beta, taken from www.euractiv.rs
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