HomeMy WebLinkAboutResolution No. OB-2-2016RESOLUTION NO. OB -2-2016
A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR
AGENCY OF THE FORMER REDEVELOPMENT AGENCY OF THE
CITY OF AZUSA APPROVING AND ADOPTING THE RECOGNIZED
OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD OF JULY 1,
2016 THROUGH JUNE 30, 2017 PURSUANT TO AB x1 26 AS AMENDED
BY AB 1484
WHEREAS, Health and Safety Code Section 34169(h), enacted by AB xl 26, requires
successor agencies to prepare a Recognized Obligation Payment Schedule ("ROPS") annually.
WHEREAS, because the Oversight Board of the Successor Agency of the former
Redevelopment Agency of the City of Azusa ("Board") previously adopted a ROPS, Resolution
No. OB -11-2015, dated September 24, 2015, is operative only through June 30, 2015, so that the
Successor Agency of the former Redevelopment ("Agency") may continue to meet the Agency's
recognized obligations, and
NOW, THEREFORE, BE IT RESOLVED, determined and ordered by the Oversight
Board as follows:
Section 1. The Recitals set forth above are true and correct and incorporated
herein by reference.
Section 2. The Agency staff is hereby authorized to administratively amend
the ROPS in order to remove line items which are subsequently
disapproved by the Board, the California State Department of
Finance ("DOF") and the County of Los Angeles Auditor -
Controller and to format the ROPS to conform with DOF
requirements and to take all necessary and appropriate actions to
prepare and submit the ROPS, provided, however, that neither such
authorization nor such removal shall be deemed to be, nor are they
intended as, an acknowledgement of the validity of AB xl 26 and
AB 1484 or such action by the Board and/or the DOF. The Agency
reserves all rights of the Agency to challenge the validity and/or
application of any or all provisions of AB xl 26 and AB 1484 in
any administrative or judicial proceeding, without prejudice to the
Agency's right to list any such removed item on this or a future
ROPS. The Agency reserves the right to pursue any and all appeals
and any available legal or equitable remedy provided or available
by law to obtain the correction of any erroneous decision regarding
the ROPS.
Section 3. The Agency staff is authorized to include on the ROPS any items
which were approved on previous ROPS but not fully expended.
Section 4. The Board hereby approves and adopts ROPS 16-17, in
substantially the form attached to this Resolution as Exhibit A, so
that the Agency may continue to meet its recognized obligations, all
as required by Health and Safety Code section 34177, during the
time period from July 1, 2016 through June 30, 2017. The Agency
reserves the right to further amend the ROPS in the future in order
to provide an accurate schedule.
Section 5. The Board hereby directs that copies of this Resolution be submitted to
the California State Department of Finance, the California State
Controller's Office and the Los Angeles County Auditor -Controller
and to be posted on the Agency's website.
Section 6. Pursuant to Health and Safety Code Section 34179(h), all actions taken
by the Oversight Board, may be reviewed by the California Department
of Finance, and therefore, this Resolution shall not be effective for five
(5) business days, pending a request for review by the California
Department of Finance.
APPROVED AND ADOPTED THIS 27th day of January, 2016.
Robert Gonzales, Chairpe son
Oversight Board
Successor Agency to the Former Redevelopment Agency
of the City of Azusa
ATTEST:
qJ466nce Cornej , Jr., ecry
Oversight Board
Successor Agency to the Former Redevelopment Agency
of the City of Azusa
I HEREBY CERTIFY that the foregoing Resolution No. OB -2-2016 was duly adopted
by the Board Members of the Oversight Board of the City of Azusa at a regular meeting thereof
on the 27th day of January 2016, by the following vote of Board Members:
AYES: BOARD MEMBERS: BARBOSA, DICKERSON, PARAGAS, GONZALES
NOES: BOARD MEMBERS: NONE
ABSENT: BOARD MEMBERS: ROMERO, HERNANDEZ
gift a� ce Comejo, r�Srety
Oversight Board
Successor Agency to the Former Redevelopment Agency
of the City of Azusa
EXHIBIT A
RECOGNIZED OBLIGATION PAYMENT SCHEDULE 16-17
July 1, 2016 through June 30, 2017
Recognized Obligation Payment Schedule (ROPS 1617) - Summary
Filed for the July 1, 2016 through June 30, 2017 Period
Successor Agency: Azu
County: Los
ROPS 16-17
Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 16.17A Total 16-17B Total Total
Enforceable Obligations Funded with Non -Redevelopment Property Tax Trust Fund (RPTTF) Funding
A Sources(B+C+D): E E $
B Bond Proceeds Funding
C Reserve Balance Funding
D Other Funding
E Enforceable Obligations Funded with RPTTF Funding (F+G):
F Non -Administrative Costs
G Administrative Costs
H Current Period Enforceable Obligations (A+E):
Certification of Oversight Board Chairman:
Pursuant to Section 34177 (o) of the Health and Safety code, I
hereby certify that the above is a true and accurate Recognized
Obligation Payment Schedule for the above named successor
agency.
$ 2,763,319 $ 1,238,431 $ 4,001,750
2,638,319 1,113,431 3,751,750
125,000 125,000 250,000
$ 2,763,319 $ 1,238,431 $ 4,001,750
Name Title
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EXHIBIT A
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EXHIBIT A
Azusa Recognized Obligation Payment Schedule (ROPS 16.17) - Report of Cash Balances
fRe..on Amounts in Whole nnllanal
Pursuant to Health and Safety Code section 34177 (1), Redevelopment Property Tax Trust Fund( TTF) maybe listed as a source of payment on the RODS, but only to the extent no other funding source is available or
when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Re ort of Cash Balances Form, see CASH BAIANCE TIPS SHEET
A
B
C D E I F I
G H
Fund Sources
Bond Proceeds Re". Balance
Other
RPTTF
Prior ROPS
Prior ROPS
RPTTF
_
Bonds issued on
loraftex-OiMlhi
period balances
distributed as
Rent,
Non -Admin
Cash Balance Information by ROPS Period
or before
12/31/10
Bond. issued on and OCR RPTTF
balancesrelained
reserve for future
periods)
grants,
interest, etc.
and
Atlmin Commend
ROPS 1S16AActuals 07101115-12131115
1
Beginning Available Cash Balance (Actual 07101115)
2,315,109
411,949
116,424
180,112
2
Revenuellncome(Actual 12alI15)
RPTTF amounts should tie to the POPS 1 S1 6A distribution from the
County Auditor-Controter during June 2015
88
2.959,905
6,287
3
Expenditures for ROPS 1 S16A Enforceable Obligations (Actual
12131116)
1,990,139
2,655,646
4
Retention of Available Cash Balance (Actual 12131115)
RPTTF amount retained should only include Me amounts distributed as
reserve for future'period(s)
325,055
1
411,949
420,683
166,399
5
ROPS 115-16A RPTTF Balances Remaining
No entry required
6
Ending Actual Available Ca ah Balance
1 CtoG=(1+2-3.4),Hc(1-2-3.4-5)
i
f -
f -
is -
f -
f
ROPE 1S16B Estimate 01101/18-0613011 6
7
Beginning Available Cash Balance (Actual 01101116)
(C, D, E,G=4+6, F e H4+F4+F6, and H=5+6)
f 325,055
f
f 411,949
f 620,683
f 166,399
f
S
Ravenuellncome(Estmate 06130116)
RPTTF amounts should tie to the ROPS 15.168 di.micubon from the
County AuditorComroller during January 2016
9
Expenditures for ROPS 1 S16B Enforceable Obligations (Estimate
08130116)
10
Retention of Available Cash Balance (Estimate 06130116)
RPTTF amount retained should only include the amounts disblbuled as
reserve for future period(s)
11
Ending Estimated Available Cash Balance (7+6-9.10)
f 325,055
f
f 611.949
f 420,663
f 166,399
f