Financing local public investments poses a challenge for local governments in achieving their development goals. Bonds are used as a financing instrument, but there is a lack of comprehensive understanding of their role and analysis of their advantages, disadvantages, and application compared to other funding sources. This paper explores the role of bonds as a financing instrument for local public investments, focusing on the example of the Kantrida Swimming Pools in Rijeka. The aim is to provide an overview of the basics of bonds, analyze their advantages and disadvantages, and identify trends and examples of bond application in Croatia and the EU. The paper also examines the institutional framework associated with bond issuance in Croatia. The hypothesis being tested is that bonds have a positive impact on the economic development and infrastructure projects of local governments. Research methods include analysis, synthesis, induction, deduction, description, comparison, and compilation. The paper provides information useful for making informed decisions about the use of bonds as a financing instrument for local public investments. Bonds enable local communities to achieve development goals but carry certain risks. The example of the Kantrida Swimming Pools construction demonstrates the successful application of bonds for financing local projects.