By: Libi Uremovic, July 22, 2014| Original Article at Patch.com
From the City of Beaumont’s Webpage: “Just the Facts”
Posted on: July 22, 2014
JUST THE FACTS: Today’s rate of 0.11% on a $43,000,000 judgment is $47,300 annually or $130 daily not the rumored 10% annually as suggested by some.
They left off a zero.
11% of $43 Million is $4,730,000 annually or $12,958.90 per day.
The interest rate alone is $1,000 per day for every home in Beaumont.
http://www.ci.beaumont.ca.us/CivicAlerts.aspx?AID=316