Overview
- The amortization totaled €1,253,998.16, with the council estimating roughly €172,000 a year in interest savings.
- The milestone restores a zero bank-liability position for the first time in more than three decades and arrives five years before a 2030 payoff target.
- Mayor Juan Antonio Lara points to tax reductions, higher reserves, 97% budget execution and doubled investment during his first two years in office.
- The government says repayments proceeded without pausing neighborhood projects and alongside increased municipal revenue, with a prior monthly installment of €24,400 now eliminated.
- The announcement omits a breakdown by lender and interest rate, a transparency gap contrasted with Estepona’s Intervención-certified debt elimination that enabled a 2025 IBI reduction.