Today my attorney, who is himself a former SEC attorney, sent a letter to the City Attorney documenting his singular lack of qualifications to represent the City of San Diego in matters relating to the Securities and Exchange Commission as well as glaring omissions and lack of regard for the facts in his interim reports.
The purpose of our letter is to list the many facts that the City Attorney has conspicuously ignored and to provide a cogent analysis of those facts as they relate to the City Council. If he is going to be serious about representing the City and trying to resolve the pending investigations, then he needs to tell the whole story and leave out the politics.
The City Attorney’s unfounded allegations about the City Council and polarizing reports have not helped the process. If he intends to assist in resolving these matters, he has to get his facts straight. Most of his efforts to date have been a waste of taxpayer dollars filing lawsuits without merit and polarized the City with his politically motivated and misleading reports. He has done nothing to help the City get past its current quagmire.
What has been lost in most of the daily discussions are these three important, related issues that must be done in this order:
- To allow the audit committee to complete its investigations. They are hoping to be finished by the end of the year.
- To get our audited financial statements completed by KPMG once the audit committee has completed their work.
- To get back into the bond market once KPMG has completed our audits.
Below you will find the link to download the letter from my attorney, Mr. Thomas A. Zaccaro.
October 10, 2005
Exhibits 1-8 that accompany the letter can be accessed by clicking on the links below: