RES-SAORA-036 RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS) - FY 2023-24RESOLUTION NO. SAORA-036
A RESOLUTION OF THE GOVERNING BOARD OF
THE SUCCESSOR AGENCY TO THE ORANGE
REDEVELOPMENT AGENCY APPROVING A
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
FOR THE FISCAL PERIOD FROM JULY 1, 2023
THROUGH JUNE 30, 2024, PURSUANT TO HEALTH
AND SAFETY CODE SECTION 34177 AND TAKING
CERTAIN RELATED ACTIONS
WHEREAS,pursuant to Health and Safety Code Section 34177(o),the Successor Agency
to the Orange Redevelopment Agency (the Successor Agency) must prepare a Recognized
Obligation Payment Schedule listing the anticipated payments for enforceable obligations to be
made by the Successor Agency during the fiscal period from July 1, 2023 through June 30, 2024
ROPS 23-24) and submit ROPS 23-24 to the oversight board of the Successor Agency (the
Oversight Board) for approval; and
WHEREAS,pursuant to Health and Safety Code Section 34177(1)(2)(B),at the same time
that the Successor Agency submits ROPS 23-24 to the Oversight Board for approval,the Successor
Agency must submit a copy of such ROPS 23-24 to the State Department of Finance (the DOF),
the County administrative officer, and the County Auditor-Controller; and
WHEREAS, pursuant to Health and Safety Code Section 34177(1)(2) and Section 34177
o)(1), the Successor Agency must: (i) submit the Oversight Board-approved ROPS 23-24 to the
DOF, the Office of the State Controller, and the County Auditor-Controller no later than February
1, 2023, and (ii) post a copy of the Oversight Board-approved ROPS 23-24 on the Successor
Agency's website.
NOW THEREFORE, the Governing Board of the Successor Agency to the Orange
Redevelopment Agency does hereby fmd, determine, resolve, and order as follows:
Section 1. The above recitals are true and correct and are a substantive part of this
Resolution.
Section 2. ROPS 23-24, substantially in the form attached hereto as Exhibit A, is
hereby approved. The Executive Director of the Successor Agency, in consultation with the
Successor Agency's legal counsel, may modify ROPS 23-24 as the Executive Director or the
Successor Agency's legal counsel deems necessary or advisable.
Section 3. Staff is hereby authorized and directed to submit a copy of ROPS 23-24 to
the Oversight Board for approval and, at the same time, transmit a copy of ROPS 23-24 to the
DOF, the County Auditor-Controller and the County administrative officer as designated by the
County.
Section 4. Staff is hereby authorized and directed to submit a copy of Oversight Board-
approved ROPS 23-24 to the DOF, the Office of the State Controller, and the County Auditor-
Controller. If the Oversight Board has not approved ROPS 23-24 by February 1, 2023, Staff is
hereby authorized and directed to transmit ROPS 23-24 to the DOF, the Office of the State
Controller, and the County Auditor-Controller by February 1, 2023, with a written notification
regarding the status of the Oversight Board's review. Written notice and information regarding
the action of the Oversight Board shall be provided to the DOF by electronic means and in a
manner of DOF's choosing.
Section 5. Staff is hereby authorized and directed to post a copy of the Oversight
Board-approved ROPS 23-24 on the Successor Agency's Internet website (being a page on the
Internet website of the City of Orange).
Section 6. The officers and other Staff members of the Successor Agency are hereby
authorized and directed, jointly and severally, to do any and all things which they may deem
necessary or advisable to effectuate this Resolution, including but not limited to requesting
additional review by the DOF and an opportunity to meet and confer on any disput•d items, and
making adjustments to ROPS 23-24 pursuant to the DOF's instructions, and an such actions
previously taken are hereby ratified and confirmed.
PASSED AND ADOPTED thisl3th day of December 2022.
Ai
Mark . urphy
Chairperson of the Successor A ten
ATTEST:
C
Pamela Coleman
Clerk of the Successor Agency
to the Orange Redevelopment Agency
Attachment: Exhibit A
Resolution No.SAORA-036 2
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ORANGE
I hereby certify that the foregoing Resolution was duly and regularly adopted by Governing Board
of the Successor Agency to the Orange Redevelopment Agency at a regular meeting thereof held
on the 13th day of December 2022, by the following vote:
AYES: BOARD MEMBERS: Nichols, Barrios, Dumitru, Tavoularis, Gutierrez,
and Murphy
NOES: BOARD MEMBERS: None
ABSENT: BOARD MEMBERS: Monaco
ABSTAIN: BOARD MEMBERS: None
Pamela Coleman
Clerk of the Successor Agency
to the Orange Redevelopment Agency
Resolution No. SAORA-036 3
EXHIBIT A
SUCCESSOR AGENCY TO THE ORANGE REDEVELOPMENT AGENCY
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
July 1,2023—June 30,2024)
I
Resolution No.SAORA-036 4
IMO
Recognized Obligation Payment Schedule (ROPS 23-24) - Summary
Filed for the July 1, 2023 through June 30, 2024 Period
Successor Agency: Orange City
County:Orange
Current Period Requested Funding for Enforceable 23-24A Total 23-24B Total ROPS 23-24
Obligations (ROPS Detail) July - December) (January -June) Total
A Enforceable Obligations Funded as Follows (B+C+D)
B Bond Proceeds
C Reserve Balance
D Other Funds
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) 2,832,956 $ 1,188,050 $ 4,021,006
F RPTTF 2,803,706 1,158,800 3,962,506
G Administrative RPTTF 29,250 29,250 58,500
H Current Period Enforceable Obligations (A+E)2,832,956 $ 1,188,050 $ 4,021,006
Certification of Oversight Board Chairman:
Pursuant to Section 34177 (o) of the Health and Safety code, I Name Title
hereby certify that the above is a true and accurate Recognized
Obligation Payment Schedule for the aboved named successor
agency. Signature Date
Orange City
Recognized Obligation Payment Schedule(ROPS 23-24)-ROPS Detail
July 1,2023 through June 30,2024
A B C 0 E F O H I J K l M N 0 P Q R S T U V W
ROPS 23-24A(Jul-Dec) ROPS23-248(Jan Jun)'
Total
Agreement Agreement Outstanding HOPS Fund Sources Fund SourcesItemObligationExecutionTerminateProjectDebtor23-24 Bond Reserve Other Admin Bond Reserve Other Admin8ProjectNameType .Date n Dale Payee Description Area Obligation Retired Total Proceeds Balance Funds RPTTF RPTTF 23-24A Total Proceeds Balance Funds RPTTF RPTTF 23.21E Total
4,021,006 S - $ - $ - $2.803,706 $ 29250 S 2,832,956 $ - S - $ - $1,158,800 $ 29.250 $1,168,05022008ABBand2014AFees6/1/1997 9/12037 US Bank Fiscal agent lees Orange 174,185 Y
Bolds S S -
Merv,'d
3 2008 A88n0WV Foes & Wtl1B979172037edan Bond disrb Orangefee 172,450 Y $ -
BONS Merged
4 2008 A88 and 2014A Fees 5222012 9/12037 RiUur8u,W Bond cannel Orange 11.500 N $ 2,000 1,000 $ 1,000 1.000 $ 1,000Bands
arson 8 Merged
hnn
B Orange City Mills Business 9/10/1998 120/2019 Mots Limited Promissory note Orange 0 Y $ -
S - centre P ¢n setepbad an Mergedceartn
Aenomemrs cerformanre
49 Retaemem CostOOegabal Unfunded B/1&1983 7/52039 Cal PERS Future re-dement cost Orange Y $ -
UabS0es
gland Memel
60 2008 Tax Allocation Bonds Bonds Issued 5/12009
J
5/12038 US Bank .. ny Orange Orange 0 Y § -
Seres A On or Before Merged 8 Amended MergedAmended
12/31/10
1612008TaxAllocationBONSBondsIssued51120085/12038 US Bank To fund Orange Orange 4.535,289 N $ 658,881 330.081 330,081 128800 328,800SeriesBOnorBeforeMerged8AmendedMerged
12/31/10
70 Successor Agency Admin Costs 81011983 7/52039 various Costs for mantawng Orange 250,000 N $ 38,100 ' 19.050 $ 19,050 19.050 § 19,050AdministrativeConsSuccessorAgetryMerged
128 2014 Thu Allocation Bonds Issued 12/42014 9/12023 US Banc 20> Refunding Orange 11.821,750 N $2,018,625 2,018625 2,018,625 0RefundingBondsSeriesAAfterofMe1997TarMergedw
12/31/10 4W-oboe Panty
Bows,Series A and
the 2003 Tax
Abra5on Refuting
Bonds,Series A.
DOF approvedResolutionNo OB.
0055 that authorized
the bond refunding
130 2018 Tax Allocation Bands Issued 7/122018 9/12038 US Bank 2018 Bond Retondng Orange 30.025.250 N $1,285,000 455,00-455,000 800,000 830,000RetudingBondsServesAAlterofthe2008TagMerged
12/31/10 Alocon n Bows,
Series A.DOF
approved Resolution
No.OB-0078 Nat
awheroed Ore bond
refunding and
131 20088.2014A82018A Fees 8f1/1997 9/12038 US Band Final agent fees Orange 80,400 N $ 8,300 4,150 $ - 4,150 - 4150 5 4.150BondsMO000
132 20086 2014A,8.2018A Fees 8/1/1897 9/12038 WOdan Bonds Orange 71.400 N $ 10,100 5050 $ . 5,050 5,050 $ 5,050Bondsdsdosure/arbnrage Merged
lees.
N'Wccounliegt ROPS\Annual ROPS\FY 23-24 ROPS\Orange Gtv_ROPS 23-2402nge OtyROPS 20-24110P5 Detail
M.
Orange City Recognized Obligation Payment Schedule(ROPS 23-24)-Report of Cash Balances
July 1,2020 through June 30,2021
Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177(I),Redevelopment Property Tax Trust Fund(RPTTF)may be listed as a source of payment on the ROPS,but only to the extent no other funding source i
available or when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form,see Cash.Balance Tips Sheet.
A B 1 C D E F G H
Fund Sources
Bond Proceeds Reserve Balance Other Funds RPTTF
Prior ROPS RPTTF
and Reserve Rent, Non-Admin
ROPS 20-21 Cash Balances Bonds issued on or Bonds issued on or Balances retained for Grants, and
07/01120-06130/21) before 12/31/10 after 01/01/11 future period(s) Interest,etc. Admin Comments
1 Beginning Available Cash Balance(Actual 07/01/20)
RPTTF amount should exclude'A'period distribution amount
E1:PPA 17-18$180,566
PPA 18-19 6495.888
2,517, 129 811.986 11,363 0 PPA 19-20$135,532
2 Revenue/income(Actual06130121)
RPTTF amount should tie to the ROPS 17-18 total distribution from the
County Auditor-Controller G2:ROPS 20-21B RPTTF $2,820,728+ROPS 20-
21A RPTTF$2,630,695(#920.10100 beg bat)=
5 30 0 98.892 5.451,423 65.451.423
3 Expenditures for ROPS 20-21 Enforceable Obligations
Actual 06/30/21)
E3.G3+G4[50%of 2008B 8 2014A S12.500
28 155 180.566 114234 5,352.719 .85,000] =$5,630,785=PPA Actual Exp
4 Retention of Available Cash Balance(Actual 06/30121)
G4:50%2008E$12,500RPTTFamountretainedshouldonlyincludetheamountsdistributedas
435.000 20.216-410,000 20-21A)12reserveforfutureperiod(s)
50%2014A$85,000(3.480,000 20-210B-
0 I 0 631.420 1.204 97,500 3.310,000 20-21A)/2=85,000
6 ROPS 20-21 RPTTF Prior Period Adjustment
RPTTF amount should tie to the Agency's ROPS 20-21 PPA form
submitted to the CAC No entry required
1.204 ROPS 20-21 PPA
6 Ending Actual Available Cash Balance(06130/21)
CtoF=(1+2-3-4),G=(1+2-3-4-5)
2,494 $ 4 $ 0 $ 5,183) $ 0
N:\Accounting\ROPS\Annual ROPS\FY 23-24 ROPS\orange City_ROPS 23-240range City_ROPS 23-24Cash Balances