Portal de Totana
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The City of Totana, through the Department of Finance, has designed a plan that proposes the unification of municipal debt in a single loan with the Ministry of Finance and Public Administration, which forces it to be placed in the hands of the Government of the Nation To be able to face the situation of bankruptcy of the municipal coffers.
The current municipal government team has decided to activate a plan for the government to cover all the liabilities and curb the municipal debt, which has grown unstoppable to reach almost 180 million euros, as is clear from the Economic and Financial Study .
To this end, Councilwoman Ana María Cánovas works to finalize a rescue plan that involves unifying all commercial and administrative loans in one with the Ministry of Finance, including provisions for payment of court judgments and other Contingencies.
The refinancing proposal would be made under preferential interest conditions, at 30 years, with an initial grace period of five years and a devolution period conditioned to the gross savings obtained in the proposed viability plan.
In addition, the theoretical annuity of amortization in no case would exceed 15.3% of total municipal revenues.
From concrete figures, such as the financial debt of 77 million euros, and taking into account the more than likely pending judicial sentences pending payment, this single ministerial loan would have to be around 100 million euros.
An economic amount that would have to be returned at an interest rate of 1%, on a monthly quota of € 321,639.52 or an annual fee of more than € 3.8 million.
And while it is clear that it is problematic to allocate more than 10% of the total income recognized to the payment of financial debt, they have very often assumed that under present circumstances it seems "reasonable to make an additional effort."
The mayor of the Treasury advocates creating a joint commission between the Ministry, the Ministry of Finance of the Autonomous Community and the City Council, where the state of the debt as a whole is analyzed with the banks, the State and the suppliers.
This is planned to bring to the municipal plenary next Thursday with the aim of all political forces joining a common strategy that puts order in local accounts.
The council warns that "an exceptional situation requires exceptional measures";
And has in mind the example of the municipality of Navalcarnero in Madrid, which has also raised this solution to the state department headed by Cristóbal Montoro.
Source: Ayuntamiento de Totana
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