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The City Council intends to benefit from new aid lines offered by the Ministry of Finance and Public Administration (29/08/2017)

The Treasury Department of the City of Totana is expected to agree, coinciding with the start of the new political course in September, to new lines of financing offered by the Ministry of Finance and Public Service to pay off debt payments corresponding to 2011 To 2013.

The General Secretariat for Local and Autonomous Financing of the Ministry of Finance of the Ministry last July transferred to the Consistory totanero the procedure so that it can avail itself of a series of measures that allow to cancel the municipal debt in more advantageous conditions.

The Delegate Commission of the Government for Economic Affairs adopted last June 15 the agreement that opens procedure and term so that municipalities that are canceling their debt with the compartment Fund in Liquidation for the Financing of Payments to Suppliers of Local Entities By means of withholding of the participation in taxes of the State, can substitute them by the formalization of loans from the Financing Fund to Local Entities.

With these new lines of financing the City Council intends to face several debts that correspond to the years 2011, 2012 and 2013.

The City of Totana may convert into loans with a 10-year grace period the current withholdings on State Taxes thanks to the approval of the Adjustment Plan.

This measure will, in the case of receiving it, be an important relief since the withholding of State Taxes will be drastically reduced, and it will improve the conditions of the debt with Social Security and Finance, achieving a term of 10 years To face the payments with 2 years of lack.

At present, of the loans for the years 2012 and 2013, which was signed by the previous municipal government within the Payments to Suppliers Fund, are being withheld from the monthly income of the participation in state taxes of 5%, in a way That if we entered the line that marks the Ministry, we would pass to 1%, explains the councilor.

Such action would involve moving from having a debt with an interest rate of around 5%, which is retained in the participation in State taxes, to convert it into a 10-year loan with two deficiencies and an interest rate in the Around 1%.

To accede to this measure, a plenary agreement of adhesion will have to be adopted together with the approval of an adjustment plan in the terms of Royal Decree-Law 4/2012, or adapt it to the City Council if it has approved it.

Source: Ayuntamiento de Totana

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