PRR: Refunded Bonds – BeaumontGate.org

EMMA shows only One Bond Refinanced, 2005 Series C for Seneca Springs Area 6A1, so Why was $9,378,542 Transferred to the Bond Trustee?

PRR: Refunded Bond

On the 2016 Audit, Page 68, Note 13 Subsequent Events claims that the Beaumont Finance Authority Refinanced twelve Bonds with a total of $9,378,542 transferred from the City of Beaumont to Wilmington Trust.

I want to know where the $9.3 Million was derived. Money does not come from ‘the Budget’, there is no budget money tree for which to pick money from. I want to know the source; did the money come from Developer Impact Fees? Did the money come from overcharging Mello Roos CFD Taxes? Or was the money used from a different source.

I want the General Ledger for July and August 2017 that shows which department the money was removed from.

I want the Bond Fund Accounts showing the money deposited into the Bond Fund Accounts.

I want ALL Requisitions submitted by the City of Beaumont, Beaumont Finance Authority, Beaumont Community Facilities District, or whatever other scam Beaumont’s Elected and Appointed Officials are using to funnel money out of the City.

Source:

Libi Uremovic - patch.com

Relevant Issues

A Clear Conflict of Interest
The City of Beaumont's contract with Urban Logic presents a significant conflict of interest and therefore must be terminated.
Favoritism and Cronyism
The City of Beaumont, under Urban Logic and City Manager Alan Kapanicas, has consistently demonstrated favoritism and cronyism in the awarding of pubic contracts.
Cost to Taxpayers
Urban Logic's contract with The City of Beaumont which allows it to profit from each approved development, along with their on-going practice of awarding high-dollar public contracts to a small group of friends and associates instead of to the lowest bidder, have cost Beaumont taxpayers millions.
Impact on Existing Businesses
The policies of Urban Logic and City Manager Alan Kapanicas ignore the needs of existing businesses in favor of new development and big box stores.
Quality of Life
Urban Logic and City Manager Alan Kapanicas have damaged our quality of life by failing to uphold high development standards, depleting local resources, making local government less accessible to residents, and by destroying the small town feel of the City of Beaumont.
Tactics
Urban Logic protects its ability to extract money from the City of Beaumont at all costs, resorting to intimidation and threats when necessary.