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RES-ORA-0544 Obligation Payment ScheduleRESOLUTION NO. ORA -0544 A RESOLUTION OF THE ORANGE REDEVELOPMENT AGENCY ADOPTING A THIRD AMENDMENT TO THE ENFORCEABLE OBLIGATION PAYMENT SCHEDULE AS REFERRED TO IN SECTION 34169(G) OF THE CALIFORNIA COMMUNITY REDEVELOPMENT LAW. WHEREAS, the Orange Redevelopment Agency (the "Agency ") is a community redevelopment agency organized and existing under the California Community Redevelopment Law (Health and Safety Code Section 33000 et seq.; herein referred to as the CRL ") and has been authorized to transact business and exercise the powers of a redevelopment agency pursuant to action of the City Council of the City of Orange (the "City Council "); and WHEREAS, the Agency is engaged in activities necessary and appropriate to carry out the Redevelopment Plan for the Orange Merged Project Area ( "Redevelopment Project ") which was adopted by and through a series of ordinances of the City Council; and WHEREAS, the Redevelopment Plan sets forth a plan for redevelopment of the Redevelopment Project consistent with the CRL and the policies and standards of the General Plan of the City; and WHEREAS, Parts 1.8, 1.85 and 1.9 of Division 24 of the CRL were added by Assembly Bill X1 26 and Assembly Bill Xl 27 (together, the "2011 Redevelopment Legislation "), which laws were drafted to become effective when signed by the Governor on June 28, 2011; and WHEREAS, Part 1.85 provides for the statewide dissolution of all redevelopment agencies and further provides that upon such dissolution that a successor agency will administer the enforceable obligations of all redevelopment agencies and otherwise wind up the agency's affairs, all subject to the review and approval of oversight committees; and WHEREAS, the validity, passage, and applicability of the 2011 Redevelopment Legislation was the subject of judicial challenge(s), including the action brought by the California Redevelopment Association ( "CRA ") and the League of California Cities in their own capacity and on behalf of their members: California Redevelopment Association, et al v. Ana Matosantos, et al (the "CRA Action "); and WHEREAS, on August 23, 2011, via Resolution No. ORA -0536, the Agency adopted an Enforceable Obligation Payment Schedule and reserved the right to amend it from time to time, as necessary; and WHEREAS, on September 27, 2011, via Resolution No. ORA -0537, the Agency adopted a First Amendment of the Enforceable Obligation Payment Schedule and reserved the right to amend it from time to time, as necessary; and WHEREAS, on January 10, 2012, via Resolution No. ORA -0542, the Agency adopted a Second Amendment of the Enforceable Obligation Payment Schedule and reserved the right to amend it from time to time, as necessary; and WHEREAS, on December 29, 2011, the California Supreme Court granted a 4- month extension to certain deadlines set forth in Assembly Bill X1 26, pursuant to which the Enforceable Obligation Payment Schedule was adopted; and WHEREAS, in order to be consistent with such 4 -month extension, the Agency desires to amend the Enforceable Obligation Payment Schedule to list payments due after February 29, 2012, as set forth on the Third Amendment to the Enforceable Obligation Payment Schedule attached as Attachment No. 1 and incorporated herein by this reference; and WHEREAS, the Agency hereby desires to adopt this Resolution, subject to the express reservation of rights of the Agency and the City of Orange under law and /or equity, including, without limitation, the effectiveness of AB X1 26, collectively, "Laws "; and WHEREAS, the Agency does not intend, by adoption of this Resolution, to waive any constitutional and /or legal rights under law and/or equity, including, without limitation, the effectiveness of AB X1 26, by virtue of the adoption of this Resolution and, therefore, reserves all of its rights under Laws to challenge the applicability of AB X1 26 to the Agency and /or the City of Orange in any administrative or judicial proceeding; and WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred; and WHEREAS, the Agency has duly considered all other related matters and has determined that the Agency's adoption of this Resolution is in the best interests of the City, and the health, safety, and welfare of its residents, and in accord with the public purposes and provisions of applicable state and local laws and requirements. NOW, THEREFORE, the Board of Directors of the Orange Redevelopment Agency resolves, finds and determines, on the basis of the facts set forth in the agenda report presented to it and any testimony received at the meeting at which this matter was considered, as follows: Section 1. The foregoing Recitals are incorporated into this Resolution by this reference and constitute a material part of this Resolution. Section 2. Without acknowledging that it is required to do so, the Agency hereby adopts the Third Amendment to the Enforceable Obligation Payment Schedule attached hereto as PA Attachment No. 1. However, the Third Amendment to the Enforceable Obligation Payment Schedule shall only be applicable to and binding on the Agency to the extent that Part 1.8 of the Agency is applicable to the Agency and requires the adoption of a Third Amendment to the Enforceable Obligation Payment Schedule. To the extent that Part 1.8 is not applicable to the Agency, for any other reason, the Enforceable Obligation Payment Schedule, as it may be amended from time to time, shall not be binding on or control the Agency's payments on or performance of its obligations. Section 3. The Agency's Executive Director is hereby authorized and directed to evaluate potential amendments to the Enforceable Obligation Payment Schedule from time to time as may be appropriate, and to recommend to the Agency Board the adoption of those amendments necessary for the continued payment on and performance of enforceable obligations. Section 4. The Agency's Executive Director is further authorized and directed to post the Enforceable Obligation Payment Schedule on the Agency website and to notify the Orange County Auditor - Controller, the State Department of Finance, and the Controller of the State concerning this Resolution, the Enforceable Obligation Payment Schedule, and its online publication. Section 5. The effective date of this Resolution shall be the date of its adoption. ADOPTED this 24" day of January, 2012. ATTEST: Mary E. M y, ency Clerk 3 I hereby certify that the foregoing Resolution was duly and regularly adopted by the Orange Redevelopment Agency at a regular meeting thereof held on the 24 day of January, 2012, by the following vote: AYES: DIRECTORS: Whitaker, Smith, Cavecche, Dumitru NOES: DIRECTORS: Bilodeau ABSENT: DIRECTORS: None ABSTAIN: DIRECTORS: None Mary E. , Agency C The enforceable obligation schedule was passed by a vote of 4 -1 with the following abstentions due to potential conflicts of interest: Mayor Cavecche — Line item 34; Councilmember Whitaker — Line items 29 and 55; Councilmember Dumitru — Line items 32 and 33; Councilmember Bilodeau — Line items 18, 19, 20, 25, 26, 27, 28, 31, 32, 33, 35, and 41. e ,r fd