They Wouldn’t Try This in Imperial Beach ? Or Would They?
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The City of Beaumont , near Riverside , concealed the existence of their $300 million bond debt. Now, the city is approaching bankruptcy, with $59 million in annual expenses but only $12 million in tax revenue. And they keep borrowing to stay afloat (aka paying city executives and padding their retirement accounts).
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Item 5.a.6 – Resolution No. 2013-21 Levying The Special Tax in CFD 93-1
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The City wants to impose a “Special Tax” to pay for the bond debt.
The map provided looks like it covers every privately-owned parcel within city limits.
This resolution does not state clearly how much the additional tax will be per home, but it will be enough to pay off $15 million of the bond debt. (The good news is the City is finally acknowledging the bond debt).
Following that, the City may use that resolution to tax homeowners to pay for ALL of the $300 million bond debt, as at each of the 22 times more money was borrowed from 1993 thru 2007, the action was approved by the City Council.
The City Manager maintains that City Council was authorized by the voters to act on their behalf and that each time more money was borrowed, a Special Tax was approved, which placed the burden of eventual repayment upon all private property owners within the project (redevelopment) area.
Other Resolutions empower the City to impose liens on private property as soon as property tax bills are due.
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Gee! This scenario sure sounds familiar? And How Much is Imperial Beach Debt on the Municipal Bonds that were just down-rated? I'm glad that Imperial Beach has such a a sophisticated and intellegent City Manager and City Council? Who do you think will get the City Manager's position after Wednesday nights City Council Meeting? Will it be an outsider or an insider? At least they let Gary Brown blow $30,000 of your money to look for his own insider replacement? You don't think he still wants to be City Manager when the Feces goes through the fan??? Do You? It will be the next City Manager's job to Tax you more!
It's time to hold them accountable now!
Have you had enough yet or will you wait till they lien your property to pay off their frivolous debt?
The Developers already got their money!
