Obligacje komunalne źródłem finansowania rozwoju lokalnego

Abstract

A subject of this article is to present the municipal bonds as a financial source of local development. Whereas they play an important role in development of local infrastructure in the developed countries their importance barely begins to increase in Poland. The article shows an essence and main groups of municipal bonds, an organization of their issuing process and legal conditions associated with this process. The last part of the article describes municipal bonds as a factor of local development.