By: Libi Uremovic, June 18, 2014 | Original Article at Patch.com
The 2013 Audit Note 5: Notes and Loans Receivable states: “The City entered into a loan agreement with the Ciyt of Calimesa for the design and construction of portions of Cherry Valley Boulevard and Palmer Drive. The City of Calimesa will repay the loans with the next 20 years, plus simple interest annually at the rate paid by the LAIF. The balance of the loan totaled $210,221 at June 30, 2013.
The 2012 Audit lists this loan at $209,595 at June 30 2012; which means that Calimesa isn’t paying off this ‘loan’ at all.
I looked on Calimesa’s audit, but they don’t list a loan payable to Beaumont.