By: Libi Uremovic | Original Article at patch.com
The Bond Fund Accounts show how much money is available to the City for construction. The March Bond Fund Accounts list $10.3 Million in funds aside from the Reserves Funds.
The March Bond Fund Accounts also show that Union Bank funneled another $285,523 to Urban logic on March 9th. The money was funneled from the 2013 Series A Bond Account #6712022405 in two separate transactions.
The memo says Potrero, but the money was transferred to Urban Logic on March 9th and Council didn’t vote to gift another $800,000 for Potrero until March 17th.
The March Bond Fund Accounts can be viewed here: http://www.ci.beaumont.ca.us/DocumentCenter/View/24339
The transaction showing Union Bank funneling money to Urban Logic is on page 867/922.