Castiglione delle Stiviere to Issue Bonds for Public Works Financing

The Comune di Castiglione delle Stiviere will issue Boc, the municipal ordinary bonds, which for some time now administrations have been able to use as a means of financing their public works.

The initiative by the Castiglione delle Stiviere municipal administration will be formalized at the upcoming city council meeting next Monday, following the conference of group leaders held on Monday evening.

Details on the Issuance of Boc

Budget Councillor Innocente Sereni, who will be the rapporteur for this proposal from the municipal executive, explained to the group leaders that the municipality will be able to issue bonds, namely Boc, which will be purchased by private individuals.

Instead of taking out a loan with a credit institution or the Cassa Depositi e Prestiti, the municipality will pay interest on these bonds with long-term maturity.

Characteristics and Interest of the Initiative

This is an initiative that has few counterparts among neighboring municipalities, and there is much curiosity about its success or failure.

Agenda Items for the City Council

Regarding the other items on the city council agenda, the most important will likely be the variance to the budget forecast for the year 2001 and the approval of the final account for the year 2000.

In the budget variance for 2001, the administration will also make its proposal for the allocation of the surplus of administration.