SHEET COUNTRY
REPUBLIC OF INDONESIA
| No. 136, 2005 | (Explanation in Additional State Sheet of the Republic of Indonesia Number 4574) |
GOVERNMENT REGULATION OF THE REPUBLIC OF INDONESIA
NUMBER 54 YEAR 2005
ABOUT
REGIONAL LOAN
WITH THE GRACE OF THE ALMIGHTY GOD
PRESIDENT OF THE REPUBLIC OF INDONESIA,
.,,, weighed: that to implement the provisions of
Section 171 of Law No. 32 of 2004 on Regional Governance and Article 65 of the Law No. 33 Year 2004 on Financial Balance Between The Central Government and the Local Government need to establish the Government Regulation on Regional Loans;
.,, Given: 1. Section 5 Verse (2) The Basic Law of the State of the Republic of Indonesia Year 1945;
., 2.
Act Number 32 Year 2004 on Regional Governance (State Sheet Indonesia Year 2004 Number 125, Additional State Sheet Number 4437);
., 3.
Act No. 33 of 2004 on the Financial Balance between the Central Government and the Local Government (State Gazette Indonesia Year 2004 Number 126, Additional Gazette State Number 4438);
DECIDED:
Establish: GOVERNMENT REGULATIONS ON REGIONAL LOANS.
BAB I
UMUM PROVISIONS
Section 1
In this Government Regulation referred to by:
., 1. The Central Government, which is next called the Government, is the President of the Republic of Indonesia which holds the power of the government of the Republic of Indonesia as referred to in the Constitution of the Republic of Indonesia in 1945;
., 2. The Regional Government is the governor, regent, or mayor, and the Regional Device as an organizer of the Regional Government;
., 3. Autonomous regions, next called the Regions, are the unity of the legal society that has the boundaries of the region of authorities regulating and taking care of the affairs of government and the interests of the local community according to its own initiative based on aspirations people in the State of the Republic of Indonesia system;
., 4. The Regional Head is the governor of the province area or the regent for the county district or the mayor for the city area;
. .5. The Council of the Regional People's Representative Council (DPRD) is the representative body of the local people as the organizing element of the Regional Government;
., 6. The State Revenue and Shopping Budget, subsequently called the APBN, is the annual financial plan of the State Government approved by the House of Representatives;
., 7. The Regional Revenue and Shopping Budget, subsequently called the APBD is the annual financial plan of the Local Government discussed and agreed jointly by the Regional Government and the Regional People's Representative Council, and is established with the Regional Regulations;
., 8. The balancing fund is a fund sourced from the APBN revenue allocated to the Regions to fund the needs of the Regions in order to perform the Decentralization;
., 9. The Regional Loan is all transactions that result in the Regions receiving a sum of money or receiving benefits that are worth the money from other parties so that the area is charged with the obligation to pay back;
., 10. Area Bonds are the Regional Loans offered to the public through public offerings in the capital market;
., 11. The General Allocation Fund, subsequently called the DAU, is a fund sourced from APBN revenues allocated with the purpose of structuring financial capabilities between the Regions to fund the needs of the Regions in the framework of the Decentralization;
., 12. The funds for the Results are funds sourced from APBN revenue allocated to the Regions by percentage figures to fund the needs of the Regions in order to exercise Desentralization;
., 13. A project is an activity that is part of a program that consists of a set of resource deployment actions that are personal (human resources), capital goods including equipment and technology, funds, or a combination of some or more All types of resources are input (input) to generate output (output) in a barang/service form.
BAB II
THE GENERAL PRINCIPLE OF REGIONAL LOANS
Section 2
.,, (1) The Regional Loan is an alternative source of APBD financing and/or to close its cash shortfall.
.,, (2) The Regional Loan is used to finance activities that are the initiative and authority of the Regions under the laws.
Section 3
.,, (1) The Local Government is prohibited from conducting direct loans to the foreign parties.
., (2) The provisions as referred to in paragraph (1) do not apply in terms of direct loans to the foreign parties that occur due to the activities of the Regional Obligation transaction under the laws of the capital market.
Section 4
(1) The Local Government is prohibited from providing reassurance on the loans of other parties.
.,, (2) Regional and/or Regional Goods Revenues may not be made a guarantee of Regional Loan.
.,, (3) The projects financed from the Regional Obligation and the Area belonging to the Regions attached to the Project may be made a guarantee of the Regional Obligation.
Section 5
(1) The Regional Loan Type consists of:
., a., a. Short-Term Loan;
B. Medium Term Loans; and
C. Long-Term Loan.
.,, (2) Short-Term Loan referred to in paragraph (1) the letter a is a Regional Loan in terms of less or equal to one year's budget and the obligation of repayment of loans covering the subject of loans, interest, and fees The whole thing has to be paid off in the year of the budget.
., (3) Mid-Term Loan as referred to in paragraph (1) letter b is the Regional Loan in the term of more than one year of the budget and the repayment obligations that include the subject of a loan, interest, and other charges must be It was paid off in a period of time not to exceed the remainder of the District Chief's term concerned.
., (4) Long Term Loan as referred to in paragraph (1) letter c is the Regional Loan in the term of more than one year of the budget and the repayment obligations that include the subject of a loan, interest, and other expenses must be repaid in the next budget years in accordance with the terms of the loan agreement concerned.
Section 6
In terms of the Regional Chief and Deputy Head of the Regions who have conducted a mid-term loan agreement stop before his term expires, then the intermediate-term loan agreement remains in effect.
Section 7
.,, (1) Short-term loans are only used to close the cash flow shortfall in the year of the budget concerned.
.,, (2) Mid-Term Loan is used to finance the provision of public services that do not generate acceptance.
., (3) Long-Term Loan is used to finance the investment projects that generate acceptance.
Section 8
.,, (1) The Local Government can conduct the Short-Term Loan which is sourced from:
., a., a. Other Local Government;
., b. The financial institution of the bank which is the legal entity of Indonesia and has a seat within the State of the Republic of Indonesia; and/or
., c. financial institutions are not Indonesian law-governing banks and have a seat within the State of the Republic of Indonesia.
.,, (2) The Local Government can conduct the Intermediate and Long Term Loan which is sourced from:
.,
., a., a. Governments whose funds come from APBN revenues and/or procuring Government loans from domestic or overseas;
B. Other Local Government;
., c. the financial institution of the bank which is the legal entity of Indonesia and has a seat in the territory of the State of the Republic of Indonesia;
., d. The financial institution is not a bank which is the legal entity of Indonesia and has a seat in the territory of the Republic of Indonesia; and/or
e. the public.
.,, (3) Regional Loans sourced from a society as referred to in paragraph (2) of the letter e of the Region's Obligation published through public offering to the public in the domestic capital market.
Section 9
The Finance Minister manages the Regional Loans sourced from the Government.
BAB III
REGIONAL LOAN LIMIT
Section 10
.,, (1) The cumulative maximum limit of Government and Regional Government loans does not exceed 60% (sixty percent) of the Gross Domestic Product of the year in question.
.,, (2) the Finance Minister set the cumulative maximum limit of Regional Loans overall by August for the next budget year with regard to the state and forecasts of national economic development.
.,, (3) the Finance Minister sets the implementation guidelines and monitoring mechanisms as well as the cumulative maximum limit control of Regional Loans.
BAB IV
THE GENERAL REQUIREMENT OF REGIONAL LOANS
Section 11
The requirement that must be met in doing short-term loans is as follows:
., a., a. The activities that will be financed from short-term loans have been budgeed in the APBD of the year concerned.
., b. Activities referred to in the case of an event are a matter of urgency and cannot be delayed.
C. Other requirements are required by prospective lenders.
Section 12
In the event the Local Government will conduct medium or long-term loans, the Local Government is required to meet the requirements as follows:
., a., a. The amount of the remaining Regional Loans plus the amount of loans to be withdrawn does not exceed 75% (seventy-five percent) of the general admission amount of the previous year.
., b. The projection ratio of the Regional financial capability to return the loan at least 2.5 (two commas five).
., c. does not have arred over the return of the loan emanating from the Government.
D. get the DPRD approval.
BAB V
AREA LOAN PROCEDURE THAT
THE GOVERNMENT ' S SOURCE
The First Part
Regional Loan Procedure of the Government
Whose funds are sourced from the Loan
The Foreign
Section 13
.,, (1) Proposed activities which will be financed with the Regional Loan from the Government whose funds are sourced from overseas loans must be listed in the List of Foreign and/or External Loan Priority Plans issued by the Minister of State National Development Planning/Head of the National Development Planning Agency.
.,, (2) The Local Government delivers the Regional Loan plan to finance the proposed activities as referred to the paragraph (1) to the Minister of Finance with at least attaching:
., a., a. realization of APBD for the last 3 consecutive years;
B. APBD of the year is concerned;
.,, c. calculations on Regional ability in meeting the loan repayment obligations (DSCR projection);
D. the proposed financing plan (financing plan) of the loan to be proposed; and
e. DPRD approval letter.
.,, (3) the Finance Minister after obtaining consideration from the Minister of the Interior setting the Regional Loan as referred to in paragraph (2).
.,, (4) The Redemption of the Minister of Finance as referred to in paragraph (3) is exercised before the implementation of negotiations with the prospective foreign loan candidate, by virtue of:
., a., a. List of Loan Priority Plans and/or Foreign Hibah;
B. government loan allocation according to its source and requirements;
c. ability to pay returns; and
D. regional fiscal capacity.
.,, (5) The Regional Loan from the Government whose funds come from abroad is carried out through the loan forwarding agreement.
.,, (6) the loan agreement of n loans is carried out between the Finance Minister and the Regional Chief.
Section 14
(1) the Finance Minister sets out the terms of the loan forwarding.
.,, (2) The currency used in the loan forwarding agreement may be in Rupiah currency or foreign currency.
The Second Part
Regional Loan Procedure of the Government
Whose funds are sourced in addition to
Foreign Loan
Section 15
.,, (1) The area submits a loan proposal to the Minister of Finance by attaching a securer document-the lack of as follows:
., a., a. DPRD approval;
B. project feasibility study; and
c. Other documents required.
.,, (2) the Finance Minister performs an assessment of the proposed loan as referred to in paragraph (1).
.,, (3) the Finance Minister may grant consent or a rejection of the proposed loan.
.,, (4) The Regional Loans of the Government whose funds come from other than overseas loans are conducted through a loan agreement signed by the Minister of Finance and the head of the area.
Section 16
A further provision of the manner in which the Government of the State Loan is derived from the Foreign Loan is referred to in Section 14, and the Regional Loan from the Government of Funds Is Sourced In Addition To the Loan. The Foreign Affairs as referred to in Article 16 is set up in the Regulation of the Minister of Finance.
BAB VI
AREA LOAN PROCEDURE THAT
SOURCED IN ADDITION TO THE GOVERNMENT
Section 17
The Local Government can conduct loans sourced areas other than the Government and other Local Government along not beyond the cumulative limit of Government Loans and Local Government.
The First Part
Short-Term Loan procedure
Section 18
.,, (1) The Local Government submitted a proposed loan to the prospective lender.
.,, (2) The prospective lender performs an assessment of the proposed area loan as referred to in paragraph (1).
.,, (3) Short-term area loans carried out with loan agreements signed by the Chief of Regions/officials given power and lenders, with regard to the most favorable terms of the Government ' s Local Government A loan
The Second Part
Medium Term Loan Procedure
or the Long Term
Section 19
.,, (1) The Local Government is required to report a loan plan which is sourced other than the Government to the Minister of the Interior in order to gain consideration, by presenting at least the following document:
., a., a. Project frameworks;
B. APBD of the year is concerned;
.,, c. calculations on Regional ability in meeting the loan repayment obligations (DSCR projection);
D. the proposed financing plan (financing plan) of the loan to be proposed;
e. DPRD approval letter.
.,, (2) The Minister of the Interior provides the consideration as referred to in paragraph (1) in the framework of the APBD deficit monitoring and the cumulative limit of Local Government loans.
.,, (3) In terms of the Minister of the Interior has given consideration, the Local Government submitted the proposal of a Regional Loan to the prospective lender in accordance with the consideration of the Minister of the Interior.
.,, (4) The local government submitted the proposal of an area loan to the prospective lender in accordance with the laws.
.,, (5) The Regional Lender candidate performs an assessment of the proposed Regional Loan as referred to in paragraph (1).
.,, (6) The loan of Regions sourced other than the Government was poured in a loan agreement signed by the Regional Chief and the lender.
.,, (7) The loan agreement as referred to paragraph (6) is mandatory to the Minister of Finance and the Minister of the Interior.
Section 20
The Finance Minister may further establish the implementation of medium and long-term loans sourced other than the Government in the framework of control and fiscal prucency with regard to the state of the national economy and the limits of the Cumulative Government Loan and Local Government Loans.
BAB VII
THE COUNTY BOND
The First Part
Common
Section 21
The issuance of Local Bonds is required to meet the provisions of this Government Regulation as well as its implementation regulations and follow the laws of the capital market.
Section 22
Issuer of Area Bonds can only be carried out in the domestic market and in Rupiah currency.
Section 23
Regional bonds are an effect published by the Local Government and not guaranteed by the Government.
Section 24
The value of the Region ' s bonds at the time of fall is equal to the nominal value of the Regional Obligation at the time of publication.
Section 25
Issuer of Area Bonds can only be done to finance public sector investments that generate acceptance and provide benefits to the community.
Section 26
The acceptance of public sector investment as referred to in Article 25, its use is prioritised to pay the principal, interest, and the related Area Obligation fines.
Section 27
The principal payment, interest, and fine of the Regional Obligation are budgeted in the APBD until the Regional Obligation is declared lunas.
Section 28
Any of the Regional Obligation loan agreement-lack of listing:
a. nominal value;
B. date due;
c. date of interest payment;
D. interest rate (coupons);
e. interest payment frequency;
f. way of interest payment calculations;
., g. provisions on the right to buy the Regional Obligation before due; and
h. provisions about the diversion of entitlement.
The Second Part
The Regional Bond Issuer Procedure
Section 29
.,, (1) The Regional Obligation issuer plan is delivered to the Finance Minister by first obtaining the DPRD approval with regard to the provisions in Article 20.
.,, (2) The DPRD Agreement on the Regional Obligation issuer plan as referred to in paragraph (1) includes the principal payment and interest arising as a result of the intended Regional Obligation issuer.
(3) Issuance Of Area Bonds is set with Regional Regulations.
.,, (4) Approval as referred to in paragraph (2) is provided for the maximum value of the Regional Obligations to be published at the time of the APBD designation.
.,, (5) In addition to providing the consent of the ha l-the thing as referred to in paragraph (2) and paragraph (4), the DPRD gives consent at all costs arising from the issuer of the Regional Obligation.
.,, (6) Terms of publishing, performance/publishing events, and Regional Obligation monitoring are implemented under the rules of the Modal Market.
Section 30
.,, (1) The Local Government can buy back the Regional Obligations that it published.
.,, (2) The repurchased Regional Obligations may be treated as a softening of the Area ' s Obligation, or saved for resale (treasury bonds).
.,, (3) In terms of the Purchased Area Bonds are reckoned as treasury bonds, then the rights attached to the Territory ' s Obligation void for the sake of the law.
The Third Part
The obligation
Section 31
.,, (1) The Local Government is obliged to pay the principal and interest of any Regional Obligation at the time of due and fines for the Regional Obligation.
.,, (2) Payment as contemplated by paragraph (1) is budgeted in the APBD of its funds from the income of the area derived from the receipt of a project funded with the Regional Obligation and other Regional income.
.,, (3) The funds to pay the principal and interest as referred to in paragraph (1) are referred to in the APBD every year until the termination of such obligations.
.,, (4) In terms of interest payments as referred to in paragraph (1) exceed the estimate, the Head of the Regions made the payment and conveyed the realization of such payment to the DPRD in the discussion of the Changing of the APBD.
.,, (5) In terms of the project have not produced sufficient funds to pay the principal, interest and the related Area Obligation fines, then the payment is paid from the APBD.
The Fourth Part
Area Bond Management
Section 32
(1) The Management Of Area Bonds is organized by the Regional Chief.
.,, (2) The Head of the Regions may form a working unit to manage the Regional Obligation.
Section 33
The management of the Area ' s obligations as referred to in Article 32 of the paragraph (1) at least includes:
., a., a. Regional obligation management and policy management policies including risk control policies;
B. the planning and setting of the Regional Loan portfolio structure;
c. Regional Obligation issuer;
D. Regional Obligation sales through auction;
e. Repurchase of the Regional Obligation prior to due;
f. softening at times due; and
G. Liability.
The Fifth Part
Accountability and Transparency
Section 34
.,, (1) the Regional Chief is obliged to organize and make accountability for the Regional Obligation management as well as the Regional Obligation issuer fund.
.,, (2) the liability as referred to in paragraph (1) is delivered to the DPRD as part of the implementation of implementation of the APBD.
Section 35
The Chief of the Regions must publish periodically information about:
., a., a. The Regional Loan Management policy and the Regional Obligation issuer plan includes estimated number and time of publishing time;
., b. The amount of the Regional Obligations in circulation along with its composition, the structure is due and the interest rate;
c. Local Government financial statements;
., d. Use of the IBM Cloud Service offering is available as a Cloud Service offering.
., e. data publication obligations and/or other information required under the laws of the Modal Market.
Section 36
Order of publishing, accountability, and the publication of the information as referred to in Article 30, Section 35 and Section 36 are further regulated under the Finance Minister's Regulation and executed under the laws of the market. capital.
BAB VIII
REPAYMENT OF REGIONAL LOANS
Section 37
In the event of a short-term loan repayment raises the cost among other interest and fines, then the fee is charged at the APBD shopping.
Section 38
.,, (1) The Liability of the Overdue Regional Loan Repayment is required in the APBD and is realized/paid in the year of the budget concerned.
.,, (2) Repayment of Regional Loan from the Government, carried out in the currency according to the stipulated in the Loan Agreement between the Finance Minister and the Regional Chief.
BAB IX
REGIONAL LOAN REPORTING AND SANCTIONS
Section 39
.,, (1) All the receipts and obligations in the Order of Regional Loans are listed in the APBD and are fertilized in accordance with the Government Accounting Standards.
.,, (2) The restraint containing all medium-and long-term loans is required to be poured in the appendix from the APBD document.
.,, (3) Any loan agreement carried out by the Regions is a public document and is announced in the Area Sheet.
Section 40
.,, (1) The Local Government is obliged to report the cumulative position of the loan and loan obligations to the Minister of Finance and the Minister of the Interior each semester in the year of the running budget.
.,, (2) In case the Area does not address the report as referred to in paragraph (1), the Finance Minister may delay the conduction of the Balance Fund.
., (3) Further provisions on the order of reporting cumulative position of lending and loan obligations as referred to in paragraph (1) are governed by the Regulation of the Minister of Finance.
Section 41
.,, (1) In terms of the Section not eligible its loan obligations to the Government as referred to in Article 38, the payment of the loan is taken into account with the DAU and/or the Fund For the Results of the State Acceptance of the Right The area.
.,, (2) In terms of the Regions conducting a direct loan from a foreign source as referred to in Article 3, the Finance Minister will conduct the DAU and/or Fund cuts for the proceeds from the Acceptance of State that is the area ' s rights.
., (3) Further provisions regarding the DAU and/or Dan cutting way of the cuts are regulated by the Regulation of the Minister of Finance.
Section 42
In the event the Local Government does not deliver the loan agreement which has been conducted as referred to in Article 19 of the paragraph (7) and/or the Local Government makes a loan agreement not in accordance with consideration of the Minister of the Interior as referred to in Article 19 of the paragraph (2), then the Local Government in question is prohibited from committing the Regional Loan for 3 (three) years in a row-in the following year.
BAB X
THE TRANSITION PROVISION
Section 43
.,, (1) the Regional Loan Agreement which has been conducted prior to the enactment of this Government Regulation, may remain subject to the provisions of the old laws until the end of the payment of the loan payment.
., (2) The Regional Loan Agreement which has been conducted before the enactment of this Government Regulation, on a mutual agreement between lenders and loan recipients can base and adjust its settings to this Government Regulation.
BAB XI
CLOSING PROVISIONS
Section 44
By the time this Government Regulation is in effect, then Government Regulation No. 107 of the Year 2000 on Regional Loans is declared not applicable.
Section 45
This Government Regulation shall come into effect on the date of the promulctest.
In order for everyone to know it, order the invitational of this Government Regulation with its placement in the State Sheet of the Republic of Indonesia.
.,, Set in Jakarta
on December 9, 2005
PRESIDENT OF THE REPUBLIC OF INDONESIA
-DR. H. SUSILO BAMBANG YUDHOYONO
Promulgated in Jakarta
On December 9, 2005
MINISTER OF LAW AND HUMAN RIGHTS
REPUBLIC OF INDONESIA
AD INTERIM,
YUSRIL IHZA MAHENDRA
ADDITIONAL
STATE SHEET RI
| No. 4574 | (Explanation Of State Sheet 2005 Number 136) |
EXPLANATION
Above
GOVERNMENT REGULATION OF THE REPUBLIC OF INDONESIA
NUMBER 54 YEAR 2005
ABOUT
REGIONAL LOANS
I. UMUM
.,, Act No. 33 of 2004 on the Financial Balance between the Central Government and the Local Government stipulating that the Regional Loan is one of the sources of Regional Acceptance in the framework of the implementation of the Decentralization, noted and is managed in the Regional Revenue and Shopping Budget.
.,, the Regional Loan is an alternative source of Budget Revenue and Regional Shopping and/or to close the cash shortfall used to finance activities that are the initiative and authority of the Regions by regulations It's
.,, the Loan Fund is a complement to existing Regional admissions sources and is intended to finance the procurement of Regional infrastructure or other fixed possessions related to the activities that enhance the acceptance of the use. to restore the loan, as well as provide benefits to community service. In addition, the Regions may also have loans with other purposes, such as overcoming short-term problems related to the regional cash flow.
.,, in its implementation, the magnitude of the Regional Loan needs to be adjusted to the Regional's capabilities as it can create the next year's Revenue and Regional Shopping workload, so that it needs to be supported by the skills of the inner device. -Manage Regional Loans.
., in order to improve the objective and disciplinary capability of the Local Government in carrying out a loan return, then the necessary ingenuity and caution in the management of Regional Loans.
.,, the Government ' s Regulation aims to further regulate the matters concerning Regional Loans, in anticipation of the future needs as well as by considering the need to maintain the health and sustainability conditions of the economy National.
II. SECTION BY SECTION
Section 1
.,, pretty clear.
Section 2
.,, Verse (1)
., referred to as "cash shortage" is the form of payment of operational activities budgeted in the Regional Revenue and Shopping Budget.
Verse (2)
.,, Pretty Clear.
Section 3
.,, Verse (1)
., clear enough.
Verse (2)
., referred to as "transaction activities" are activities that include transaction activities in order of public offerings, transactions on the securities exchange, transactions outside the exchange of securities, grants, gifts and other transaction activities that pose a diversion Area bond holdings.
Section 4
.,, pretty clear.
Section 5
.,, Verse (1)
., clear enough.
Verse (2)
., short-term loans do not include short-term credit that is prevalent in trade, for example the softening of the liability for the procurement/purchase of goods and/or services not performed at the time of goods and or intended services are accepted.
That includes other costs e.g. administration fees, commitment, provision, insurance, and fines.
Verse (3)
., clear enough.
Verse (4)
., clear enough.
Section 6
.,, pretty clear.
Article 7
.,, Verse (1)
.,, referred to the "concerned budget year" is the year of the budget at the time the Regional Government did the Short-Term Loan.
The provisions of this verse also contain the meaning that short-term loans are not allowed to finance a cash deficit by the end of the budget year.
Verse (2)
., referred to as "public services that do not generate acceptance" is a service to the community that is the responsibility of the Local Government that does not generate revenue for the APBD.
Verse (3)
.,, referred to as "investment projects resulting in acceptance" is the infrastructure project and or the means that generate revenue for APBD obtained from levies on the use of the infrastructure and or such means.
Article 8
.,, Verse (1)
., clear enough.
Verse (2)
., referred to as "society" is a private person and/or body doing investments in the domestic capital market.
Verse (3)
., clear enough.
Article 9
.,, Regional Loans sourced from the Government may come from overseas loans as well as other than overseas loans.
Article 10
.,, Verse (1)
., clear enough.
Verse (2)
.,, the penetration of the cumulative maximum extent of the Regional Government loans as a whole as late as August so that the Regions can set the number of loans in the APBD.
The "cumulative amount of loans of the Central Government and Local Government loans" is the total loan of the Central Government after minus the loans granted to the Local Government, plus the total loan of the entire Local Government after minus the loans provided to the Central Government and/or other Regional Governments.
The cumulative amount of Government and Local Government Loans is calculated by the formula as follows = Net Loan The Central Government plus Net Loan Regional Government Net Loan Government = Total Loan The Central Government is reduced Pidebt to Local Government.
Net Loans Local Government = Total Loan Area Government Minus Debt to the Central Government and/or Debt to Other Local Governments.
Verse (3)
.,, Pretty Clear.
Article 11
.,, the letter a
.,, these Terms are intended to limit the use of short-term loans only to close the financing of activities that have been budgeted in APBD that undergoes the cash flow shortage.
Letter b
.,, activities that are urgent and cannot be delayed among other employees ' salaries.
Letter c
., clear enough.
Article 12
.,, the letter a
.,, referred to as "the residual amount of Regional Loans" is the amount of old loans unpaid.
In question "the number of loans to be withdrawn" is the loan arrangement of the loan of the year concerned.
The "general acceptance of APBD of the previous year" is that all APBD receipts do not include Special Alocation Funds, Emergency Funds, old loan funds, and other receipts whose use is restricted to financing certain expenses.
Letter b
.,, the ratio of Regional Financial capabilities is calculated based on the comparison between the annual projections of the Regional Original Revenue, the Fund for the Results does not include the Fund for Rebozation Fund Results, and the General Alocation Fund after minus the mandatory shopping is divided with projections of principal installers, interest rates, and other expenses that are due each year over the term of the loan to be withdrawn.
In question, "compulsory shopping" is shopping for employees and shopping members of the DPRD.
In question, "other costs" include administration fees, provision costs, commitment costs, insurance and fines.
DSCR = {PAD + (DBH-DBHDR) + DAU}-Wajib Shopping = 2.5 Angers of loan + Bunga + Other expenses;
DSCR = Debt Service Coverage Ratio Or Ratio Of Ability To Pay Back On Loan;
PAD = Regional Original Revenue;
DAU = General Alocation Fund;
DBH = Fund For Results; and
DBHDR = Funds For Rebozation Funds Results.
Letter c
., clear enough.
Letter d
.,, the DPRD Agreement is referred to include in terms of the loan being lent and/or passed on as a capital inclusion to the BUMD.
Article 13
.,, pretty clear.
Section 14
.,, Verse (1)
.,, the loan forwarding Requirements referred to is interest rate, middle-time, due date and other requirements.
Verse (2)
., clear enough.
Article 15
.,, pretty clear.
Section 16
.,, pretty clear.
Section 17
.,, pretty clear.
Article 18
.,, pretty clear.
Section 19
.,, pretty clear.
Section 20
.,, pretty clear.
Section 21.
Pretty clear.
Article 22
.,, pretty clear.
Section 23
.,, these Terms affirm that any risk arising as a result of the Regional Obligation issuer is not guaranteed and/or borne by the Government.
Given the Regional Bonds is the effect published by the Local Government and not guaranteed by the Government, then the Regional Obligation is not a representative of the State Debt.
In question, the "effect" is the effect as referred to in the Modal Market Law.
Section 24
.,, these Terms of Use govern that the Local Government is prohibited from issuing the Regional Obligations that use certain indices so that the rate of the Regions ' Obligation at times of fall is not the same as its nominal value at the time of publication (index bonds).
Section 25
.,, these Terms set out that the Regional Obligation of the issuer is only a type of income bond (revenue bonds).
Article 26
.,, pretty clear.
Section 27
.,, pretty clear.
Article 28
.,, the Regional Obligation loan Agreement is poured in the guarantor agreement and is signed by the Chief of Regions and Guardians of Amanat as a representative of the bond-holder/lender.
Letter a
.,, referred to as "nominal value" is the subject matter of the Regional Obligation, which is the value that the Regional Obligation holder to the issuer of the bond at the time of the fall, or the magnitude of the required Area Obligation of the Area (s). by the Local Government to the Regional Obligation holders.
Letter b
., referred to as the "due date" is a term that has been determined in the issue of the issuer's bond issuer (usually listed in the treaty of custody) in which the bond holders are entitled to demand the softening of the rights. Related to regional bonds. The date of the crash may include the due date of the principal payment and the interest payment.
Letter c
., clear enough.
Letter d
.,, referred to as "interest rate (coupons)" is the promised benefit to the Regional Obligation holder of a certain percentage of the nominal value. A fixed rate or floating rate is set to be fixed (fixed rate).
Letter e
., clear enough.
Letter f
., clear enough.
The letter g
.,, in the issuer of the Regional Obligation it can be promised that the issuer (the area) can buy back the Regional Obligations that it published before it was due.
Letter h
., clear enough.
Article 29
.,, Verse (1)
., referred to by "DPRD ' s approval" is the approval of the principle given by the DPRD commission that handles the financial field. The DPRD Commission's approval is used in the delivery of the bond issuer plan to the Minister of Finance.
The Council's approval of all published Regional Obligations constitutes approval of the payment and repayment of any future financial obligations arising from the issuer of the Regional Obligation.
Verse (2)
.,, in the event the area 's Obligation is set to refer to the rate of floating interest rates, then the DPRD' s approval is meant to establish a interest rate formula.
Verse (3)
.,, these Terms are intended to have a clear openness and accountability to the public about any obligations of such bonds.
The rules of the area are defined by the plenary agreement of the DPRD. The DPRD Pleneno Agreement is intended to be used as a condition for signing a loan agreement.
Verse (4)
.,, referred to as "net value" is the total total value of the outstanding outstanding Regional Obligation (outstanding) issued by the Regions outside the nominal value of the County Obligation retracted as a softening before the due and the Or the Regional Obligation that has been paid off at the time of the budget year.
Verse (5)
.,, the costs arising from the issuer of the Area's Obligation include the cost of emissions, fines, the services of the effect, and the services of the profession and the capital markets.
Verse (6)
., clear enough.
Article 30
.,, Verse (1)
., clear enough.
Verse (2)
.,, in terms of the Area Bonds that were bought back as a softening, then the Regional Obligation meant it could not be resold.
Verse (3)
.,, the voting rights in the general meeting of the bond holders (RUPO), the right of interest payments, as well as the other rights attached to the Purchased Area Obligations may not be used or accepted by the Regions.
Article 31
.,, Verse (1)
., clear enough.
Verse (2)
.,, Denda of the Territory's Obligation is budgeted in the changes in the APBD of the budget year concerned. In terms of the fine it is not possible to be broadcast in the changes in the APBD of the budget year, then it is announced in the next year's APBD.
Verse (3)
.,, all principal obligations arising from the issuer of the Regional Obligation are allocated in the APBD each year as a sinking fund which may not be used for any other purpose, until the termination of such obligations. The estimated funds that need to be allocated for payment of liability for a one-year budget are delivered to the DPRD to be taken into account in the APBD of the year concerned.
Verse (4)
.,, Realization of interest payments may exceed the projection of interest payments in a single year of the budget, if the prevailing interest rate of the Regional Obligation with floating interest rates is greater than that of the interest rate specified in the APBD.
Verse (5)
., clear enough.
Section 32
.,, Verse (1)
.,, the management and accountability of the Regional Obligation is carried out by units appointed by the Regional Chief.
Verse (2)
., clear enough.
Section 33
.,, the letter a
.,, in order to achieve the lowest cost of the Regional Obligation at an acceptable and controlled level of risk, the Local Government is obliged to execute and report on the activities at least as mentioned in this Section.
Letter b
., clear enough.
Letter c
., clear enough.
Letter d
.,, the Region conducts Regional Obligation sales on the inaugural market through the general offering as referred to in the capital market area.
Further, in the event the area intends to buy back (buy back) the Regional Obligation that it published or resell over the Purchased Area ' s Obligation, then the Area may repurchase or resell The area's bonds are through auction.
Letter e
., clear enough.
Letter f
., clear enough.
The letter g
., clear enough.
Article 34
.,, pretty clear.
Section 35
.,, the Region ' s Obligation market activity may be improved when information on the plans and realization of issuers including, among other things, information about the issuer schedule, the due date, and the Regional Obligation volume, are announced broadly with Regular schedule. Such programs are in particular carried out in the framework of Regional Obligation intended for the establishment of a benchmark of financial asset prices. It will provide opportunities for the financiers to draft a bidding strategy, determine the amount of the Regional Obligation in the portfolio, and plan the sale/release of the Regional Obligations that are currently in place. Their portfolio. When the target of the market is already aware of the publication schedule, potential disruptions in the market can be avoided.
Section 36
.,, pretty clear.
Section 37
.,, pretty clear.
Article 38
.,, Verse (1)
.,, Liability of a maturing loan includes the entire underlying installment of the loan coupled with loan fees such as interest in loans, bank fees, and commitment costs.
By placing the Regional's obligations on the Regional Loan as a priority and budgeted in the APBD expenditure, then the fulfillment of the obligation is intended to have a position that is parallel to other expenses that the Regions have to prioritize. For example, an expense that should not be performed can create a social flock.
Thus the fulfilment of the obligations on the Regional Loan cannot be ruled out if the APBD acceptance target is not reached.
Verse (2)
.,, referred to as the "Loan Agreement" is an agreement between the Local Government with the Government on loans sourced from overseas loans and other than overseas loans.
Article 39
.,, Verse (1)
.,, in terms of no Government Akuntation Standards, then the Local Government did the books in the framework of Regional Loans in accordance with the laws.
Verse (2)
.,, the Attachment is a part of the APBD document so that it becomes a document that people can acquire.
Verse (3)
.,, these provisions are intended to be an obvious openness and accountability to the public about the obligations of such loans.
The meaning of "public documents" is a document that can be known to the whole community.
Section 40
.,, Verse (1)
.,, the gust of the cumulative position report is referred to the DPRD as a notice.
Verse (2)
., clear enough.
Verse (3)
., clear enough.
Section 41
.,, Verse (1)
., referred to as "not fulfilling its loan obligations" is not subject to any of the principal payment obligations and/or the cost of a loan such as a loan interest, bank fee, and commitment fee in accordance with the time schedule and the amount of that has been set out in the loan agreement.
In accordance with the provisions of the paragraph (1), all payment obligations return the Regional Loan to the Regional responsibility. The Central Government does not bear the repayment of loans that are the obligations and responsibilities of the Regions.
Verse (2)
., clear enough.
Verse (3)
., further provisions regarding the DAU and/or Fund dismembering of the Results include provisions regarding the calculation of the magnitude of the cut and the cutting mechanism.
Article 42
.,, these provisions do not include Regional Obligation.
Article 43
.,, pretty clear.
Section 44
.,, pretty clear.
Section 45
.,, pretty clear.
