There seems to be a rumour doing the rounds of Mi Sol, that if I were to be elected President, a Bank Loan would be taken out in order to pay for the remainder of the roads to be laid to tarmac.
This is not true, however the idea has been discussed privately, with some members of the Community. My position on this is as follows.
At this moment in time, the finances of Mi Sol are nowhere near stable enough for a Bank to even consider such a proposal. See the latest Bank Statement.
From previous posts you will know that a quotation from a reputable company has been obtained for a total of Euro 200,000 to complete the whole road system. There is no obligation to complete the job in one go, it can be done in stages, as and when finances allow. It will cost more to do it this way as transport for the machinery being brought to and from Mi Sol would have to be factored in, the original quotation having been given to include the transportation once, not several times. Even so, paying an extra premium for having the work completed in stages would still be considerably cheaper than the interest charged on any loan.
If the future Committee were to decide on taking a Bank loan to complete the work, then the proposal would be put to all Owners at a General Meeting for their approval, or otherwise as the case may be.
I do not want to see the Community saddled with any kind of debt, except as a very last resort, due to some dire emergency threatening the survival of Mi Sol.
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