By: Libi Uremovic , December 25, 2013 | Original Article at Patch.com
The California Debt and Investment Advisory Commission has released a report on each individual Mello Roos Bond held by a public agency in California. This is only Mello
Roos and not other forms of RDA. The report can be viewed on the State Treasurer’s Office website: http://www.treasurer.ca.gov/cdiac/reports/M-Roos/2012.pdf
This audit focuses on taxes due per Mello Roos Area, the amount paid, and amount of taxes uncollected. The Beaumont City Manager Kapanicas has repeatedly stated that all taxes are paid, but the State says that is incorrect.
The total amount of Mello Roos taxes due from the City of Beaumont in fiscal year 2012 was $29,772,719. Of that amount $602,750 was uncollected leaving the a total of
$29,170,140 collected in fiscal year 2012.
In 2012 alone the City of Beaumont was due to collect $29 Million in Mello Roos taxes but has only retired a total of $19 Million worth of bonds in the last 20 years.
The problem is the City isn’t receiving $29 Million in Mello Roos taxes, but it seems the State Report is providing the amount the City should be collecting based on the
information provided on the bonds.