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The Plenary Session of the City Council of Campos del Río approves a new financial operation to continue reducing the municipal debt (22/11/2017)

The plenary session of the Municipality of Campos del Río held yesterday afternoon an extraordinary plenary session where the formalization of loans with the Fund for Local Entities was approved, with the credit entities designated by the ICO that refer to the substitution of the application of withholdings of the participation in State taxes in order to cancel the outstanding debts with the Fund in liquidation for the Financing of Payments to Suppliers of Local Entities for the formalization of loans charged to the Financing Fund to Local Entities, for an amount € 1,570,723.36, with a low and fixed interest rate of 1.002% according to the criteria contained in the Agreement of the Delegate Commission of the Government for Economic Affairs of June 15, which approved the measure now It has been granted.

The application of the ninety-ninth additional provision of the 2017 LPGE allows modifying the objective scope of the Management Fund, a compartment of the Fund for Local Entities, for financing, exceptionally, the outstanding debt with the State Agency for Tax Administration and that is being subject to compensation through the application of deductions from the participation in State taxes, for an amount of € 265,823.09, being the fixed interest rate of 1,002% and in accordance with the criteria contained in the Commission Agreement. Delegate of the Government for Economic Affairs of June 15, in which the measure now granted was approved.

The purpose of this operation is to reduce the municipal debt and with it, it is intended to increase the margin of financial operation in terms of liquidity in order to continue maintaining the public services of the municipality and at no time to reduce the attention to the citizens of Campos del Río at the same time. that is still fulfilling the obligations contracted by the City Council with its suppliers explained the mayor María José Pérez Cerón in the turn of explanation of the agenda item where the mayor explained that "this series of measures can be adopted thanks to the good economic and financial management that is being developed by the Government team and which is endorsed by the Ministry of Finance and Public Administration itself, which allows this and other operations carried out in the last two years to be carried out obtaining a very low interest rate in each one of them".

Finally the plenary agreement went forward approved with the votes in favor of the Municipal Socialist Group and the votes against the Municipal People's Group.

Source: Ayuntamiento de Campos del Río

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