Terézváros Invests Its Money in Government Bonds to Finance Its Own Operations, Not the Government's.

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According to Tamás Soproni, this would be another loss for District 6 after the numerous government withdrawals.

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The mayor of Terézváros is buying government bonds to avoid having to give the money to the state - This leaves 3.5 billion forints in the district's pocket.

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“We finance the operation of Terézváros instead of the state, meaning we do not hand over the district's money to the state, but buy bonds from it, which we pay interest on for the benefit of the people of Terézváros,” writes Tamás Soproni, the mayor of the 6th district, on Facebook. The decision made at the extraordinary meeting of the Terézváros local government is based on the fact that from October 1, it is mandatory for cities with county r…

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Tamás Soproni will not pay the sixth district's money into the State Treasury: they will instead buy bonds from the legally required 5 percent of their operating costs, the proceeds of which will be spent on the residents of Terézváros. The mayor of the sixth district announced this on Facebook on Tuesday.