Fiscal Oversight Board analyzes controversial loan requested by the Municipality of Dorado

Fiscal Oversight Board analyzes controversial loan requested by the Municipality of Dorado

The Fiscal Oversight Board (JSF) began a review of the request for a loan, amounting to $13.7 million, presented by the Municipality of Dorado for the development of infrastructure works, a transaction that has been questioned by the New Progressive candidate for mayor, Erik Rolon Suarez.

In a letter addressed to Rolon Suarez, the JSF stated that, on January 26, the Financial Advisory Authority and Tax Agency (Aafaf) processed, on behalf of the city council, a “request for review and approval for the Municipality of Dorado to issue a general obligation note of up to $13,667,000 to finance various public works works.”

“Pursuant to section 207 of the Promise Law and the Policy (Transaction Review), the Board is reviewing the Aafaf request”holds the letter signed by the executive director of the organization, Robert Mujicadated February 8.

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