The town council of a town in Zaragoza with 100 residents invests 800,000 euros in foreign debt

by time news

2023-10-07 13:52:15

Updated Saturday, October 7, 2023 – 13:52

The agreement, approved by PP and Podemos, has been questioned by the municipal Intervention and the amount is 166% higher than the municipal budget of Las Pedrosas

Image of Las Pedrosas.City Hall

Las Pedrosas is a town in the province of Zaragoza, in the Cinco Villas Region, which barely reaches 100 inhabitants. Its town council is made up of three councilors, belonging to PP, Podemos and PSOE.

The team of government (PP and Podemos) has approved in the last plenary session to invest in foreign debt, mainly Italian, 800.000 euros from remaining treasury. According to the socialists, the operation was carried out “against the instructions of the Intervention.”

The amount of said debt purchase is a 166% higher than the municipal budget which amounts to 300.00 euros.

Las Pedrosas recorded extraordinary income of more than Two millions of euros for the license for the installation in its municipal area of four wind farms in 2019 and 2021.

The socialist councilor, Victor Corbachohas criticized that the contracted debt product and the investment term have not been specified.

He explained that the documentation put to a vote in the municipal plenary session “was not valid, so it was not possible to award a specific productsince the contracting date of the products offered had already expired”.

He added that the entity in which it was decided to invest, of the three proposals that there were, “only presented European sovereign debt funds, each of the funds being made up of different percentages of debt from different countries (Spain, Italy, Germany). , but In all cases they include debt from other countries“.

He legal report of treasury surpluses, issued by the City Council’s Intervention, states that “in no case may investments be made abroad, even though these may be intermediated by a financial institution legally recognized in Spain.”

Necessary investments

Corbacho regretted that the result of this decision is that “public coffers no longer have 800,000 euros available for investments that are necessary in the town, such as supply networks, the completion of the new water tank or the construction of sports facilities pending in the park, projects all developed and started, which in this situation will be inevitably delayed and postponed in time.

Mayor, Joaquín Gordún (PP), has indicated that the intention with said investment is for the money to generate some type of return and not be devalued.

And, in the face of criticism from the socialists, it has sent the municipal agreement to the Zaragoza Provincial Council so that the legal services can rule on its legality.

The socialist group of Las Pedrosas has also denounced the contracting of a wallet-type card, with a balance of 3,000 euros per year at the disposal of the mayor to cover travel expenses, drinks, invitations and any type of expense that you consider appropriate, understanding that it is inherent to your position.

The socialists understand that “this card covertly represents a salary of 3,000 euros per year for the mayor, without the need for justification and free from treasury control, as it does not include any receipt of allowances or any other concept.”

And for this reason, they have regretted that “Never before in a democracy has a mayor or councilor of the municipality, which barely exceeds 100 inhabitants, had any salary allocationnor free monetary provision for expenses, these being covered in any case after justification thereof and at the discretion of the Intervention.

#town #council #town #Zaragoza #residents #invests #euros #foreign #debt

You may also like

Leave a Comment