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地方政府未按时足额向中央财政专户缴纳发行费、应还本息等资金的,按逾期支付额和逾期天数,以当期债券票面利率的两倍折成日息向财政部支付罚息地方债每期发行数额、发行时间等要素,由地方政府与财政部协商确定。财政部代理发行地方债采用市场化招标方式
Local governments failing to pay their issuance fees in full and on time to the central financial special accounts and repaying principal and interest and other funds shall pay the interest of the local government bonds to the Ministry of Finance on the basis of overdue payment and overdue days with double the coupon rate of the current bonds The amount of each issue, issue time and other elements, determined by the local government and the Ministry of Finance. The local government bonds issued by the Ministry of Finance adopt market-oriented bidding