HUERCAL-OVERA council has formalised a €1.2 million bank loan to help pay for municipal investments.
The council said the loan, which is for a 10-year period, had been approved under the previous Popular Party administration.
Of the total amount, €560,000 has been earmarked for completing the construction of the music school. A further €302,500 will be for the municipal contribution to the provincial government’s project to update the water supply network, mainly in the Calvario district.
“The budget approved by the PP in February this year contemplated this formula of financing to deal with these investments, and in the exercise of responsibility the current government team takes on the commitments initiated by the previous administration”, Huercal-Overa Mayor Francisca Lourdes Fernandez commented.