5. Total amount of local bonds \11,030 billion (\1,099 billion down on previous year, -9.1%)
(1) The amount of local bonds issued
[Ordinary bonds] \8,516 billion
(\423 billion down on previous year)
[Bonds supplementing general revenue] \1,890 billion
(\100 billion down on previous year)
In view of the extremely serious financial situation, the appropriation rate of general public works bonds will be raised, and the range of public works will be temporarily widened in order to tackle the deficit. Part of the repayment of principal and interest will be included in the basic financial demand of local allocation tax in following years.
[Tax-cut covering bonds] \624 billion
(2) Local bond funds ;
・The amount of government funds \7,600 billion
・The amount of Japan Finance Corporation for Municipal Enterprises (JFM) funds \1,930 billion
(Government-guaranteed bonds issued by JFM \1,745 billion)
III Important Measures in FY '98
1. FY '98 Total amount of local public non-subsidized services (investment) \19,300 billion (△\4.0%)
(Major projects)
・Special land conservation projects \150 billion (new)
・Special urban redevelopment projects \50 billion (new)
・Waste treatment facility projects \590 billion (same as the previous year)
・Hometown projects \1,585 billion (△2.0%)
・Local specified road projects \980 billion (△2.0%)
・Hometown farm road / woodland path emergency improvement project \441 billion (new)
(The period for this project has been extended for 5 years to FY 2002.)
・Emergency disaster prevention infrastructure projects \294 billion(△2.0%)
・Local economy projects \300 billion (new)
NB(The period for the port/greenbelt package program has been extended for 2 years to FY '99)
