The meaning of municipal bonds for local governments in Poland
The meaning of municipal bonds for local governments in Poland

Summary/Abstract: The aim of the article is to characterize the meaning of municipal bonds in the process of finance management in local governments in Poland. There are shown the concept of these securities and the types which were issued in Poland after 1989. There are also characterized financial functions of municipal bonds as well as some main determinants in the field of the debt and investments of “the free funds”. As a result of these considerations, the author presents principal measures, which indicate the role of these securities in the budgets of the tiers of the local government in Poland.

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