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Two years after its entry into force eight ahead of schedule, the City of Jumilla canceled the Adjustment Plan 2012-2022, and will get to save more than 900,000 euros, to repay all the loans received from the Fund for Financing Payments to Suppliers Finance Ministry, thus leaving the plan without adjusting effect, since its purpose was to ensure the repayment of these loans.

So reported the spokesman of the government team and Councillor of Finance, Alicia Abellán, who explained that as today inform Informational Finance Committee, prior to subsequent floor vote October, on the one hand, it will proceed to cancel one of the two loans relating to Provider Payment Plan.

"This is the smaller loan amount, 54,000 euros, we will cancel thus avoiding paying more interest on the banking operation."

Moreover Alicia stood Abellán that "the next step will loan refinancing higher amount, which is 4.8000.000 euros now."

Nearly one million euros will thus experience the savings that the municipal accounts, after refinancing the loan Provider Payment Plan (PPP) to finally be done with the bank Banco Santander, after his tender has resulted declared as most advantageous, with a reduction in the interest rate to 1.23%.

Once the Municipal Intervention has studied the various offers made by banks in the town, has finally been given by the Banco Santander declared as lowest bid, which must now be voted as such by the full City Council, and forwarded the Ministry to be who authorized the operation.

Thus, the interest rate will increase from 4.20% today to 1.23% which will result in savings of 900,000 euros over the next eight years of loan repayment.

Here, Alicia Abellán he qualified, this operation has been possible, as the report says Intervention "by the City of Jumilla now meets the percentage of debt marked by the Act, and has also the budgetary stability parameters, with a surplus of more than 4 million euros last year, and also because at present the session is below the average required by the law, which also means that no debt is not maintained with jumillanas companies. "

Source: Ayuntamiento de Jumilla