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The City Council obtains a discharge of more than two million euros from the debt creditors from urban agreements, loans with financial institutions and other suppliers (04/01/2017)

The City of Totana gets a discharge of more than two million euros from creditors of debt from urban agreements, loans with financial institutions and other suppliers, as reported recently in a meeting with journalists Mayor Juan José Cánovas.

On December 30th, the Ministry of Finance entered into the creditors and conveners the amounts owed - most of them debt due to the signing of urban agreements - after the totanero Consistory took advantage of the aid lines provided by the Government Of the Nation after the approval of the Adjustment Plan.

Following the approval of the Adjustment Plan by the plenary, the City has had access to a double line of loans (plan suppliers for which were withheld State Taxes) and payment of the final sentences.

The principal amount of the debt plus interest and judicial costs amounted to about 13.8 million euros, of which just over two have been slowed thanks to the negotiations that the mayor has been conducting since last July with creditors.

All these creditors have seen the debt they had with the City of Totana with a significant reduction that has required a firm negotiation of the first mayor, and which could not be faced given the complex economic and financial situation of the municipal coffers.

The agreement is fixed by virtue of a loan granted to the City council of ten years with two years of lack.

These takedowns, which basically stem from arrears and interest on previous accumulated debt, have resulted in significant savings for battered municipal coffers after creditors had to relinquish in writing a reduction in amounts, the councilor said.

The mayor stressed that this formula has allowed to avoid the increase of the real debt by reducing the payment obligations and liquidating a part of it that allows to see the future with more hope than in the last months in which the municipal debt was suffocating.

In addition, he pointed out that the debt to some of the creditors has been very hard (dozens of meetings with some of them in this half year) with a position of firmness, but that if it had not been so, they would never have been able to charge the City Council because It has no budget surplus, there are no resources and there is still a mismatch between expenditure and income, he said.

Juan José Cánovas has also said that the economic situation "continues to be critical, it remains in the ICU by the slabs of sentences, but with these measures there are reasons for hope."

He also mentioned that the Plenary of Totana approved last December 30, with votes in favor of the PSOE, Ganar Totana-IU, C's and abstention of the PP, request the Ministry of Finance to convert the current withholdings In the State Taxes, converting the outstanding debt for these concepts into loan with the conditions contemplated in the Law in the Framework of the Adjustment Plan in force and informed favorably by the Subdirectorate of Studies and Financing of Local Entities.

The Mayor's motion proposed to amend the situation by requesting the conversion of a debt of 32.8 million euros into a loan with two years of almost zero interest and interest in order to get a respite in the municipal coffers and a higher income In terms of state taxes, which could go from entering 393,973.10 euros, compared to the 105,466.92 euros that are entered today.

The mayor of Totana has also expressed his satisfaction with the help line granted by the Ministry to release all of the State Taxes and has referred to the refinancing of debt with financial institutions as a valve of escape to continue to reduce the debt.

The debt, according to the data and conclusions of the external economic and financial analysis of the City of Totana, which was published in November, yields a total municipal debt amounting to 179.9 million euros.

Thus, the ratio that derives from the current municipal debt, considering that the number of inhabitants of the municipality of Totana is 30,916, would stand at 5,782 euros per inhabitant.

Source: Ayuntamiento de Totana

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