The Arrecife City Council has put out to tender the loan for an amount of 27 million euros to cancel the debt derived from the judicial ruling for the expropriation of the Ginory land, and to finance some investments planned in the municipal budget this year.
The credit operation will have an amortization period of 10 years with 2 more of shortage and the installments will be quarterly, the first of which will be December 31, 2023.
Currently the City Council is complying with the payment plan approved in court, in relation to the Ginory case ruling, "judicial resolution that is not attributable as everyone knows to the current Government group that the only thing it is going to do is save money to public coffers", according to the mayor of Arrecife Astrid Pérez.
According to the City Council's Intervention report, taking into account that Ginory payment plan, the amount paid in the month of September of 142,277.96 euros of principal and 57,530.33 euros of interest will be incorporated. Already in 2019 with the previous Government group a first payment of 1 million euros was made. The intention of the City Council is that "of the 27 million, 24 will go to pay the debt, which could save up to 8 million depending on the interest, and the remaining 3 million will be for investments in works and generate employment", according to the mayor, Astrid Pérez.
From the Consistory explain that "this operation is viable, according to the Intervention Department, since it is about financing long-term investment expenses, the net saving is positive and the level of indebtedness does not exceed the established percentages." The Arrecife City Council definitively approved in full on April 20 the municipal budget that included this long-term credit operation.
Financial institutions have until November 19 to submit offers at the electronic headquarters of the City Council through the general instance system, the offer of the banks will not include study fees, and / or opening, early cancellation or any other type of additional expense on behalf of the City Council.
The deadline for submitting offers will be 15 calendar days from the day of publication on the Public Sector Procurement Platform, which was this Thursday, November 4.
Finally, they point out that "the only variable to be evaluated in the selection criteria will be the differential that will be added to the initial reference interest rate (3-month Euribor), or the fixed rate offered. In the event of equal interest rates, preference will be given to the offer whose amount is closest to the total amount of the operation requested. And in this sense the fixed interest rate will have preference over the variable".
