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Financial Administration

Autonomous Ordinance for the Custody and Utilization of Debt Service Fund of Kaohsiung City

  • Article 1
    For reinforcing debt management and enhancing the effectiveness of financial utilization, Kaohsiung City Government (hereinafter referred to as the Government) institutes the Kaohsiung City Debt Service Fund (hereinafter referred to as this Fund) and set down this Autonomous Ordinance pursuant to Article 10 of the Public Debt Act.

  • Article 2
    Receipts, expenditures, custody and utilization of this Fund shall comply with this Autonomous Ordinance, unless otherwise stipulated by laws.

  • Article 3
    This Fund is a special fund as defined in Item 2, Subparagraph 2, Paragraph 1, Article 4 of the Budget Act. A subsidiary department budget is prepared, and the Finance Bureau of the Government is the administration authority.

  • Article 4
    Sources of this Fund are:

    1. Money allocated to this Fund annually from the general budget and special budgets of the Government. Sum of the money shall not be lower than 5% of the outstanding balance of public debts in the general budget and special budgets at the end of the previous year.
    2. Redemption of principal and interests of non-paying bonds that have expired the legal maturity.
    3. Interests and utilization income of this Fund.
    4. Balance in the final accounts of the previous year, with the maximum appropriation of 20%.
    5. Complementary interest income of bonds.
    6. Income from sales of municipal properties, with maximum appropriation of 20%.
    7. Income from sales of stocks held by the city government.
  • Article 5
    In response to the needs to repay or convert debts, this Fund may finance in the following ways for repaying old debts or converting old debts into new debts, provided that it does not increase the outstanding balance of the Government’s public debts: 
    1. Issue government bonds or borrow from financial institutions.
    2. Transfer from various organizations or special fund accounts of the Government.
    Interests and relevant handling charges required for the financing mentioned in the foregoing paragraph shall be appropriated from the general budget to this Fund according to the budget procedures, but it shall not increase the personnel cost of the Fund.

  • Article 6 
    This Fund may be used for the following purposes:
    1. Repay the outstanding principal of the Government’s public debts.
    2. Pay the principal, interests and relevant handling charges of the financing mentioned in foregoing paragraph.
    3. Management and general expenses.
    4. Other relevant expenses.
    Money in this Fund may be allocated and utilized by the Municipal Treasury.
  • Article 7 
    This Fund may be used for paying the debt interests and relevant handling charges listed on the Government’s general budget and special budgets.

  • Article 8
    An exclusive account shall be set up at the municipal treasury agent institution for the custody of this Fund.

  • Article 9
    Preparation and implementation of annual budget, preparation and accounting affairs of final accounts for this Fund shall be in compliance with the relevant laws and regulations.

  • Article 10
    Surplus in the annual final accounts of this Fund, if any, shall be kept in the Fund.

  • Article 11
    This Fund shall be cleared when it is closed; any balances and rights shall be submitted to the Municipal Treasury of the Government.

  • Article 12
    This Autonomous Ordinance is put into force on the date of promulgation.