Portal de Caravaca de la Cruz
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The City of Caravaca de la Cruz, meeting in extraordinary plenary session, approved the accession to Fund Management, a mechanism that is part of the measures proposed by the Ministry of Finance and Public Administration, through the Royal Decree of Measures Financial sustainability of the autonomous regions and local authorities and other economic.
The proposed commitment made in Parliament by the Department of Finance had the favorable vote of all political groups represented in the table, considered a positive step for the operation of local government and to prioritize the care of social spending.
As he explained the owner of Hacienda area, Julia Gimenez, "with this measure the City Council significantly improves its liquidity and, therefore, the average payment to suppliers, to sort the part of financial debt, refinancing zero interest rate without having to pay any share of the remainder of 2015 and throughout 2016, easing the burden on municipal debt. "
The councilor of Finance also informed "that the Royal Decree-Law, in addition to the use of the financing is for the cancellation of credit operations requires that the Municipal Council approved an adjustment plan setting out the situation created with adherence to Fund Management, which consists basically in all the measures already adopted in the current Adjustment Plan 2014-2032, approved by the House in June 2014, now contemplating the new scenario emerged from this refinancing and has been favorably reported by the municipal auditor. "
Source: Ayuntamiento de Caravaca de la Cruz
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