Union Bank has provided financial documents to Beaumont a week after being subpoenaed by the city, according to city attorney John Pinkney.
The subpoenas, approved by the Beaumont City Council on March 1, were issued to Union Bank on March 2, requesting financial documents including correspondence, requisitions and any information relating to where hundreds of millions of dollars were spent in city bond funds.
More than $270 million worth of bonds were issued over more than 20 years to build streets, sewers, parks and other amenities in Beaumont.
Pinkney said, in an e-mail, that Union Bank, through senior attorney Joe Catalano, produced the documents at its downtown Los Angeles office and that the city’s copy service went to Union Bank on March 9 and 10 to copy the records that the bank produced.
Pinkney’s office – Slovak Baron Empey Murphy and Pinkney – is going through the documents and electronically redacting confidential account numbers.
Pinkney said the goal is to complete the redaction process this week and make the documents available to Urban Futures to aid the city council in its ongoing investigation and reconciliation efforts regarding past bond proceed expenditures.
When the documents are provided to the city, Pinkney said they will be made available to the public at the same time.
Pinkney will provide a full report to the council at Tuesday night’s meeting, March 15. The meeting starts at 6 p.m. at the Beaumont Civic Center.
A full story will be in Friday’s Record Gazette.
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