By: Libi Uremovic | Original Article at patch.com
How was $30 Million in Bond Requisitions Issued from a $10 Million Bond?
CITY OF BEAUMONT REQUISITIONS – 1994 Series AB $10,290,000
A total of $30,867,825.22 in transfers recorded in the 1994 Bond Requisitions.
ADMINISTRATION BOND FUND ACCOUNT:
120 Administration Fund Requisitions totaling $1,725,534.89 were issued from March, 1994 thru January, 2009. Bank of New York received $18,748.60 in Trustee Services until March, 2000. Union Bank received Administration Fees totaling $8,540.04 from December, 2003 thru January, 2009.
CONSTRUCTION BOND FUND ACCOUNT:
108 Construction Fund Requisitions totaling $28,829,417.66 were issued from February, 1994 thru November, 2003. Duplicate Construction Requisitions #1-3 were issued in 1999. November 6, 2003: $1,089,367.69 Transferred to 2000A closing Construction Account nine (9) years after 1994 Bond was issued.
COST OF ISSUANCE FUND:
62 Cost of Issuance Fund Requisitions totaling $312,872.67 were issued from February, 1994 thru January, 1999.
CROOKS’ DISTRIBUTION:
Law Firm of Aklufi: $296,828.90
William Aylward CPA: $153,968.11
City of Beaumont: $434,776.52
Empire Economics: $20,000
General Govt Mgmt Svcs: $464,669.11
Heartland: $91,201.47
McFarlin & Anderson: $117,644.92
Urban Logic Consultants: $576,112.12