RES-OB-0005 Obligation Payment Schedule 2012RESOLUTION NO.OB -0005
A RESOLUTION OF THE OVERSIGHT BOARD OF
THE SUCCESSOR AGENCY TO THE ORANGE
REDEVELOPMENT AGENCY APPROVING AND
ADOPTING A SECOND AMENDMENT TO THE
INITIAL RECOGNIZED OBLIGATION PAYMENT
SCHEDULE FOR A PERIOD COVERING JANUARY
1 2012 THROUGH JUNE 30, 2012.
WHEREAS, Assembly Bill xl 26 ( "AB 26 ") and AB xl 27 were passed by the State
Legislature on June 15, 2011 and signed by the Governor on June 28, 2011; and
WHEREAS, among other things, AB 26 amends Sections 33500, 33501, 33607.5
and 33607.7 of the California Health and Safety Code and adds Part 1.8 and Part 1.85 of
Division 24 to the California Health and Safety Code; and
WHEREAS, by enactment of Part 1.85 of Division 24 of the California Health and
Safety Code, subject to all reservations herein stated, the Orange Redevelopment Agency
the "Agency ") was dissolved as of February 1, 2012; and
WHEREAS, California Health and Safety Code Section 34173(a) designates
successor agencies as successor entities to former redevelopment agencies; and
WHEREAS, on January 24, 2012, by Resolution No. 10626, the City of Orange
declared itself as the successor agency upon the dissolution of the Agency, subject to all
reservations stated in such resolution; and
WHEREAS, the Oversight Board of the Successor Agency to the Orange
Redevelopment Agency (the "Oversight Board ") has been established to direct the Successor
Agency to take certain actions to wind down the affairs of the redevelopment agency in
accordance with the California Health and Safety Code; and
WHEREAS, California Health and Safety Code Section 34177(1)(2)(A) provides that
a successor agency must prepare a draft initial Recognized Obligation Payment Schedule (the
IROPS ") and a Recognized Obligation Payment Schedule (ROPS) for every six -month
period thereafter and
WHEREAS, California Health and Safety Code Section 341770)(1) provides that a
successor agency must prepare an administrative budget concurrently with the draft IROPS
and a ROPS for every six -month period thereafter; and
WHEREAS, the ROPS identifies each enforceable obligation on which payments
will be required and identifies the minimum payment amounts and due dates of payments
required by each such enforceable obligation.
WHEREAS, on March 21, 2012, the Oversight Board approved an initial
Recognized Obligation Payment Schedule and administrative budget, and reserved the right
to amend it from time to time, as necessary; and
WHEREAS, on April 11, 2012, the Oversight Board approved a First Amendment to
initial Recognized Obligation Payment Schedule and administrative budget, and reserved the
right to amend it from time to time, as necessary; and
WHEREAS, the Oversight Board desires to make certain amendments to the IROPS
and related administrative budget by adopting a Second Amendment.
NOW, THEREFORE, the Oversight Board of the Successor Agency to the Orange
Redevelopment Agency does hereby resolve as follows:
Section 1. The Oversight Board hereby finds and determines that the foregoing
recitals are true and correct.
Section 2. All legal prerequisites to the adoption of this Resolution have
occurred.
Section 3. The attached Second Amendment to the IROPS is hereby adopted.
Section 4. The Executive Director of the Successor Agency or his designee is
hereby authorized to take such actions as are necessary and appropriate to comply with AB
26.
Section 5. The Clerk of the Oversight Board shall certify to the adoption of this
Resolution.
Section 6. This Resolution shall take effect immediately upon its adoption.
ADOPTED this 30" day of May, 2012.
J
Oki he Oversight Board to the
kge cy of the Orange Redevelopment
ATTEST:
Robert Zornwo
Clerk of the Oversight Board
2
I hereby certify that the foregoing Resolution was duly and regularly adopted by the
Oversight Board of the Successor Agency to the Orange Redevelopment Agency at a regular
meeting thereof held on the 30 day of May, 2012, by the following vote:
AYES: BOARDMEMBERS: Remland, Christensen, Davert, Buttress, Cavecche, Schulze
NOES: BOARDMEMBERS: None
ABSENT: BOARDMEMBERS: Yarbrough
ABSTAIN: BOARDMEMBERS: None
ki ,',J
Robert ZorVado
Clerk of the Oversight Board
Chairperson Cavecche abstained from items 59a and 59b due to her position on the board of
the Orange County Transportation Authority.
Boardmember Schulze abstained from items 114 and 114a due to a possible conflict with his
public employee salary.