HomeMy WebLinkAboutOB Reso No 2012-011RESOLUTION NO. OB- 2012 -011
A RESOLUTION OF THE OVERSIGHT BOARD TO THE
SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF
THE CITY OF LAKE ELSINORE APPROVING THE RECOGNIZED
OBLIGATION PAYMENT SCHEDULE (ROPS) FOR THE PERIOD
OF JANUARY 2013 THROUGH JUNE 2013, SUBJECT TO
ADOPTION BY THE SUCCESSOR AGENCY
WHEREAS, the Oversight Board to the Successor Agency of the Redevelopment
Agency of the City of Lake Elsinore ( "Oversight Board ") has been established to direct
the Successor Agency to take certain actions to wind down the affairs of the former
Redevelopment Agency of the City of Lake Elsinore in accordance with the California
Health and Safety Code; and
WHEREAS, Health and Safety Code Section 34169 requires the Successor
Agency to prepare and adopt a 'Recognized Obligation Payment Schedule" that lists all
obligations of the former redevelopment agency that are enforceable within the meaning
of subdivision (d) of Section 34167 for six month periods including January 2013
through June 2013; and
WHEREAS, on April 10, 2012, the Oversight Board adopted Resolution No. OB
2012 -005 approving a Recognized Obligation Payment Schedule for the period of
January 2012 through June 2012 and a First Amended Recognized Obligation Payment
Schedule for the period of January 2012 through June 2012; and
WHEREAS, on May 8, 2012, the Oversight Board adopted Resolution No. OB
2012 -008 approving a Recognized Obligation Payment Schedule for the period of July
2012 through December 2012; and
WHEREAS, on May 24, 2012, the Department of Finance approved both the
Recognized Obligation Payment Schedule for the period January 2012 through June
2012 including hand - written corrections submitted by the Director of Administrative
Services and the Recognized Obligation Payment Schedule for the period of July 2012
through December 2012; and
WHEREAS, on June 12, 2012 the Oversight Board approved a Second
Amended Recognized Obligation Payment Schedule for the period January 2012
through June 2012 incorporating the corrections approved by the Department of
Finance and a First Amended Recognized Obligation Payment Schedule for the period
of July 2012 through December 2012 correcting earlier mathematical errors; and
WHEREAS, on June 27, 2012, the Legislature passed and the Governor signed
AB 1484, a fiscal 2012 -13 budget trailer bill, which makes technical and substantive
amendments to ABx1 26 and took immediate effect upon signature by the Governor;
and
OVERSIGHT BOARD RESOLUTION NO. OB 2012 -011
Page 2
WHEREAS, AB 1484 requires that the January 2013 through June 30, 2013
ROPS must be submitted to the Department of Finance and the State Controller's
office, after approval by the Oversight Board, no later than September 4, 2012
(September 1, 2012, the submittal date specified in statute, falls on a Saturday and the
next business day, September 3, 2012, is the Labor Day Holiday) or be subject to
penalties; and
WHEREAS, on August 28, 2012, the Successor Agency of the Redevelopment
Agency of the City of Lake Elsinore will consider adoption of the Recognized Obligation
Payment Schedule for the period of January 2013 through June 2013; and
WHEREAS, all other legal prerequisites to the adoption of this Resolution have
occurred.
NOW, THEREFORE, THE OVERSIGHT BOARD TO THE SUCCESSOR
AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE
DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
SECTION 1. The Recitals set forth above are true and correct and incorporated
herein by reference.
SECTION 2. In order to enable the City of Lake Elsinore, as Successor Agency
to strictly comply with AB X1 26 and AB 1484, and based on the Recitals set forth
above, the Oversight Board hereby approves the Schedule attached hereto as Exhibit A
as the Recognized Obligation Payment Schedule for January 2013 through June 2013,
which such version is approved subject to the adoption thereof by the Successor
Agency. Pursuant to Health & Safety Code Section 34173, the Successor Agency's
liability, including, but not limited to, its liability for the obligations on the attached
schedule is limited to the total sum of property tax revenues it receives pursuant to Part
1.85 of AB X1 26.
SECTION 3. Pursuant to Health & Safety Code Section 34180(g), the Oversight
Board hereby establishes the Recognized Obligation Payment Schedule (ROPS) for the
period of January 2013 through June 2013 attached hereto as Exhibit A, as the
Recognized Obligation Payment Schedule for such period.
SECTION 4. If any provision of this Resolution or the application thereof to any
person or circumstance is held invalid, such invalidity shall not affect other provisions or
applications of this Resolution which can be given effect without the invalid provision or
application, and to this end the provisions of this resolution are severable. The
Oversight Board hereby declares that it would have adopted this Resolution irrespective
of the invalidity of any particular portion thereof.
OVERSIGHT BOARD RESOLUTION NO. OB 2012 -011
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SECTION 6. This Resolution shall take effect from and after the date of its
passage and adoption.
PASSED, APPROVED AND ADOPTED at a regular meeting of the Oversight
Board to the Successor Agency of the Redevelopment Agency of the City of Lake
Elsinore, held this 28 day of August, 2012.
Brian Tisdale, Chairperson, Oversight
Board to the Successor Agency of the
Redevelopment Agency of the City of Lake
Elsinore
I
ecretary