HomeMy WebLinkAboutOB Reso No 2016-010 Approving the Amended Recognized ObligationRESOLUTION NO. 2016 -010
A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY
OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE,
CALIFORNIA, APPROVING THE AMENDED RECOGNIZED OBLIGATION
PAYMENT SCHEDULE (ROPS 16 -17B) FOR JANUARY 1, 2017 THROUGH
JUNE 30, 2017, AND MAKING A FINDING WITH RESPECT THERETO
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 (Agency) in accordance with the California Health & Safety Code; and,
Whereas, Senate Bill (SB) 107, enacted in September 2016, added Health & Safety Code
(HSC) Section 34177(0) requiring the Successor Agency to prepare and adopt a "Recognized
Obligation Payment Schedule" (ROPS) that lists all obligations of the former Redevelopment
Agency that are enforceable within the meaning of subdivision (d) of Section 34171 for twelve
month periods, including July 2016 through June 2017; and,
Whereas, SB 107 permits an amended ROPS 16 -17B for the period January 1, 2017, through
June 30, 2017, to be submitted to the Department of Finance and the State Controller's office,
after approval by the Oversight Board, no later than October 3, 2016, or be subject to penalties;
and,
Whereas, HSC Section 34177.7(o)(1)(E), permits an Amended ROPS 16 -17B provided that the
Oversight Board makes a finding that a revision to the ROPS is necessary for the payment of
approved enforceable obligations during the ROPS 16 -17B period, and,
Whereas, on September 27, 2016, the Successor Agency of the Redevelopment Agency of the
City of Lake Elsinore considered and approved the Amended ROPS 16 -17B for the period
January 1, 2017, through June 30, 2017; and,
Whereas, the Oversight Board desires to make a finding that a revision to the ROPS is
necessary for the payment of enforceable obligations during the second half of the ROPS period
and approve the Amended Recognized Obligation Payment Schedule (ROPS 16 -17B) for
January 1, 2017, through June 30, 2017, in the form attached as Exhibit A; 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. The Oversight Board hereby approves the Schedule attached hereto as Exhibit A
as the Amended ROPS 16 -17B for the period January 1, 2017 through June 30, 2017.
Pursuant to HSC 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.
OB Reso. No. 2016 -010
Page 2 of 3
Section 3. The Oversight Board finds that a revision to the ROPS is necessary for the
payment of enforceable obligations during the second half of the ROPS period, January 1,
2017, through June 30, 2017.
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.
Section 5. Pursuant to HSC Section 34179(h), this Resolution shall be effective five (5)
business days after proper notification hereof is given to the California Department of Finance
unless the California Department of Finance requests a review of the actions taken in this
Resolution, in which case this Resolution will be effective upon approval by the California
Department of Finance.
PASSED AND ADOPTED at a Special meeting of the Oversight Board to the Successor
Agency of the Redevelopment Agency this 29th day of September, 2016.
e Kelley, Chair
ATTEST:
c
Susan M-. Domen, M
Oversight Board Secretary
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE }
I, Susan M. Domen, MMC, Secretary of the Oversight Board to the Successor Agency of the
Redevelopment Agency, do hereby certify that Resolution No. 2016 -008 was adopted by the
Oversight Board to the Successor Agency of the Redevelopment Agency at a Special meeting
held on the 29th day of September, 2016, by the following vote:
AYES: Board Members Jeffries, Lassey, M. Williams and P Williams; and Chair Kelley
NOES: None
ABSTAIN: None
ABSENT: Board Member Tisdale
Susan M. Domen, MMC,
Oversight Board Secretary
EXHIBIT A
AMENDED ROPS 16 -17B
[attached]