在各级政府和市场对城镇化充满憧憬之际,城镇化建设所需的持续、巨量资金投入与不断收窄的地方融资渠道的矛盾不断加剧。在这一背景下,研究我国市政债券发行的必要性、筹资效率,对于积极稳妥地推进城镇化、提高城镇化水平具有积极深远的影响。一、发行市政债券的理论依据(一)市政债券概念及主要分类市政债券,是地方政府或者地方公共机构根据信用原则、以承担还本付息责任为前提而筹集资金的债务凭证。其收入列入地方政府预算,由地方政府安排调度。从四方面对市政债券进行理解:发行主体是地方政府或者授权机构;发行目的是化解地方债风险和为城 At a time when governments and markets at all levels are full of longing for urbanization, the contradictions between sustained and huge capital investment required for urbanization and ever-narrowing of local financing channels have been aggravated. In this context, studying the necessity of municipal bonds issuance and the efficiency of fund-raising in our country have a positive and far-reaching impact on actively and steadily promoting urbanization and urbanization. First, the theoretical basis for the issuance of municipal bonds (A) the concept of municipal bonds and the main classification Municipal bonds, is a local government or local public institutions in accordance with the principle of credit, to assume the obligation to repay the principal and interest as the premise to raise funds for the debt certificate. Its income included in the local government budget, arranged by the local government scheduling. From four aspects to understand the municipal bonds: the main body of the issuer is a local government or authorized institutions; the purpose of distribution is to defuse the local debt risks and for the city