Portugal Travel

February 13, 2009

Authority is all outstanding bills to suppliers

The Municipality of Santarém expect to see the application approved 23 million euros to the Program for Extraordinary Adjustment of debts of the State to pay its debts which has contracted to purchase goods and services and works.

Vânia Neto, the Deputy Mayor of Santarém, told Lusa that the purpose of the municipality is settle all invoices to suppliers and pass to fulfill the commitment to "pay on time, maintaining a period of between 45 to pay 90 days.

As you said, the application will allow the payment of bills in arrears since 2005, as has already been covered in previous agreements to pay or the payment plan approved by the Court under the advance of eight million euros of revenues EDP.

'As in that case, it will have to submit for approval of the Court on the listing of the payments, he said, stressing that part of the loan, 10 years, the banks will be contractually allocated to the three banks.

'The 23 million requests (the second largest amount, just after Lisbon, with 130 million) fall in the capacity of the municipal debt', he said, stressing that the interest rate 'very low', which could never in a loan normal, practiced in this program, ensuring that the financial commitments that have been made are checked.