Totana City Council held tomorrow, July 21 (20:45) a special meeting to approve the Adjustment Plan that is necessary to give effect to the application to the Ministry of Finance and Public Administration of the new funding requirements for the 2016 exercise.
These are granted through the Fund Management mechanism regulated by Royal Decree Law 17/2014 of 26 December measures of financial sustainability of the Autonomous Communities and Local Authorities.
Corporate will have to discuss whether to approve the execution of one or more credit operations in the framework of said Royal decree for a maximum total amount of 10.9 million euros in order to meet the financial needs of that Fund Management .
This funding is to meet the maturities of principal and interest on loans that meet the criteria of financial prudence and maturity resulting from the financing mechanisms for payment to suppliers.
They are also intended to finance the annuities corresponding to negative assessments obtained in the share of state revenues and finance the execution of final judgments against this local entity relapse.
