Today we received news from the Ministry of Finance, where we are authorized to sign a loan of the advance that was requested to pay suppliers in the year 2015 on account of the deliveries made by the Ministry every month.
With this formalization of loan the City of Totana, will have more liquidity to pay invoices to suppliers every month.
BBVA financial institution, communicate to the City Council a new offer of refinancing of the debt that is contracted with this entity.
This new offer has been studied by the General Directorate of Treasury and complies with financial prudence.
This loan the City Council has tried to negotiate several times with the entity, but it has not been possible to reach agreements, both on the part of the City of Totana, and the Ministry, for the particular and abusive conditions that has from the beginning this loan that was signed In 2010, as are the breaking costs of 8,000,000 euros.
It is a loan that is now in the courts pending judgment and where they claim from the City Council 24,000,000 million euros of a principal that was 13,000,000 million euros.
These two measures will be very beneficial for this City Council, which will have more liquidity to deal with the debts that this City Council has contracted with suppliers.
