Law Amending And Supplementing The Law On Municipal Debt

Original Language Title: Закон за изменение и допълнение на Закона за общинския дълг

Read the untranslated law here: http://parliament.bg/bg/laws/ID/15426/

Name of law Law amending and supplementing the law on municipal debt Named Bill a bill amending and supplementing the law on municipal debt date adopted 29/07/2015 number/year Official Gazette 61/2015 Decree No 154

On the grounds of art. 98, paragraph 4 of the Constitution of the Republic of Bulgaria

I DECLARE:

To be published in the Official Gazette the law amending and supplementing the law on municipal debt, passed by the National Assembly on 29 HLÌÌI July 2015.

Issued in Sofia on 31 July 2015.

The President of the Republic: Rosen Plevneliev

Stamped with the State seal.

Minister of Justice: Hristo Ivanov

LAW

amending and supplementing the law on municipal debt (official SG. 34 of 2005; amend., SG. 105 by 2005, 30 and 37/2006, no. 80 (2007), no. 93 and 110 since 2008, no. 99 by 2010, issue 35, 93 and 99 from 2011, issue 45 by 2012 and 15/2013)

§ 1. In art. 3 make the following amendments and additions:

1. point 3 is repealed.

2. point 5 shall be replaced by the following:

"5. the interest-free loans granted under the law on public finance, including being financed under art. 103, para. 3 of the Act; ".

3. Section 6 is repealed.

4. In paragraph 7, after the word "lease" a comma and added "commercial loans".

§ 2. In art. 4 the following endorsements are added:

1. In paragraph 5, add a "Finance".

2. an item 6:

"6. the funding for temporary cash budget of the municipality tears under art. 103, para. 1 of the law on public finances. "

§ 3. In art. 5 make the following amendments and additions:

1. In paragraph 8. 1:

a) in paragraph 1 the words "during the execution of the budget" shall be replaced by "under temporary cash budget gap of the municipality";

(b) in item 2), after the words "capital expenditure", the text to the end shall be deleted;

in) item 5 shall be inserted:

"5. payments on projects financed with funds from the European Union."

2. Paragraphs 2 and 3 are repealed.

§ 4. Article 6 is repealed.

§ 5. In art. 14, paragraph 3, the words, "redemptive scheme ' shall be replaced by ' intent to repay.

§ 6. Article 16 shall be replaced by the following: "art. 16. The proposal to take on short-term debt must be accompanied by a description of the financial parameters of the debt – the amount of short-term debt, terms, ways and intentions of its absorption, interest rates, intentions to repay, sources for repayment, the impact of debt financing and the cost of servicing the debt on the budget of the municipality. "

§ 7. Art is created. 17 (b): "art. 17B. In the framework of the current budget year, municipalities may take on new debt for the realization of long-term contracts with guaranteed results (ESCO contracts) of up to 15 percent of the annual average amount of capital expenditures reported for the last four years on the municipal budget. "

§ 8. In art. 43, the words "the 15th" is replaced by "5-day of the month following the reference month" and a comma.

§ 9. Article 52 shall be replaced by the following: "art. 52. the register shall be public, such as information about the amount of debt to a certain period is available on the website of the Ministry of finance. "

§ 10. Article 53 shall be repealed.

§ 11. In art. 55 al. 7 shall be replaced by the following: "(7) the Minister of finance may give instructions regarding the volume, format and content of the information referred to in para. 1 and 2. "

Transitional provision

§ 12. (1) For 2015, the annual amount of payments under long-term contracts with guaranteed results (ESCO contracts) for each municipality is not included in the total annual amount of payments on municipal debt for the municipality in the determination of the ratio and in the application of the restriction under art. 32, para. 1 of the law on public finance.

(2) paragraph 1 shall not apply to the offences established by the supervisory authority in the conclusion of contracts with guaranteed results (ESCO contracts) and/or to establish a negative impact on contracts with guaranteed results (ESCO contracts) on the parameters of the cost of the Commons.

The law was passed by the National Assembly-43 on 29 July 2015 and is stamped with the official seal of the National Assembly.

President of the National Assembly Tsetska Tsacheva:

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