Sierra de Yeguas Council trying to raise loan to repay debts

The new government in Sierra de Yeguas has declared itself willing to pay off its debts to suppliers, mainly local, amounting to €1.3 million.

The new Mayor, Salvador Ortiz, who took over from Rafael Sánchez Lavado following a censure motion, is trying to raise a loan of €1,150,000 to accomplish the task.

The Mayor is having to seek a conventional loan because the previous Council was not able to access the special government ICO loan due to not having settled their budgets since 2006.

The Mayor hopes to have arranged the loan by the end of this year or early in 2010, at which time local suppliers can be paid.

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