Alcudia, where the town hall has almost 90 million euros sitting in a bank.
The national finance ministry is seeking to negotiate an agreement with the Spanish Federation of Municipalities and Provinces (FEMP) which would mean town halls making loans to the Spanish government. These loans would be the cash that town halls have deposited in banks and which they are unable to spend because the so-called Ley Montoro has yet to be repealed. This law, an austerity measure introduced by the Partido Popular government, placed restrictions on town hall spending. As a consequence, most town halls have budget surpluses - the cash that is in the bank - which can't be used.