March 29, 2024
Beaumont probe focuses on use of bond money
BEAUMONT – (INT) – City officials are reiterating they are fully cooperating in a federal investigation into the use of bond proceeds.

The Securities and Exchange Commission (SEC) served subpoenas on April 22nd on the City of Beaumont, the Beaumont Financing Authority, and the City of Beaumont Community Facilities District seeking specific documents.

The subpoenas follow the city’s ongoing investigation relating to the use of bond proceeds, the expenditures of special tax revenues, and continuing disclosure compliance.

In a statement from City Hall Wednesday, there was no indication when the SEC investigation would conclude.
Story Date: May 11, 2016
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