Togar Situmorang Gets a Doctorate Degree in Open Exam Doctoral Science Program Faculty of Law Udayana University

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Denpasar–Doctoral Study Program (S3) in Law, Faculty of Law (FH) Unud again held a Doctoral Promotion with promovendus Togar Situmorang on Thursday, January 27, 2022 in a Hybrid (Online) and Offline) located in the FH Unud Hall. Togar Situmorang is an advocate with solidity in studying at the Doctoral Study Program in Law FH UNUD and successfully completing his studies.

The open examination was led directly by the Dean of the Faculty of Law, Udayana University, Dr. Putu Gede Arya Sumertayasa, SH., MH and as Promoter 1: Prof. Dr. Ida Bagus Wyasa Putra, SH., M. Hum. and Promoter 2: Dr. I Ketut Westra, SH, MH Togar Situmorang successfully defended his dissertation entitled "Regulation of Regional Bonds as Regional Development Resources".

In his dissertation, Togar Situmorang Hasan revealed that first, regional bonds are debt securities issued by regional governments that are offered to the public through public offerings on the capital market. Regional governments that issue regional bonds are obliged to pay interest periodically in accordance with a predetermined period of time. The purpose of the issuance of regional bonds is to finance a public sector investment activity that generates revenue and provides benefits to the community. Second, referring to the Law of the Republic of Indonesia No. 33 of 2004 concerning Fiscal Balance between the Central Government and Regional Governments, funds in local governments are still very limited, there is a need for other alternatives to meet the funding needs of local governments, one of which is regional bonds. One of the innovations is the consideration of limited funds and limited human resources in Bali, the implementation of regional bonds, an innovation in regulations for the central government not only objects and goods for which the regional bond designation project is used as collateral, but also needs a guarantee in the form of culture that revives the tourism economy of Bali. If culture can be measured in the form of a value that is not guaranteed by regional bonds in Bali, regional bonds are feasible to be implemented by the Bali Provincial Government as funding support and construction of structures and infrastructure, which is nothing but to grow tourism again. (UPIKS&IT FH Unud Team)