HomeMy WebLinkAbout18-03 (Last & Final Recognized Obilgation Payment)OVERSIGHT BOARD RESOLUTION NO. 18-03
A RESOLUTION OF THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY
REDEVELOPMENT AGENCY APPROVING THE LAST AND
FINAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE
CROPS") AND MAKING CERTAIN FINDINGS IN
CONNECTION THEREWITH
The Oversight Board of the Successor Agency to the Tustin Community Redevelopment
Agency finds, determines and declares as follows:
A. The Tustin Community Redevelopment Agency ("Agency") was established as a
community redevelopment agency that was previously organized and existing under the
California Community Redevelopment Law, Health and Safety Code Sections 33000, et
seq. ("CRL") and previously authorized to transact business and exercise the powers of
a redevelopment agency pursuant to action of the City Council ("City Council") of the
City of Tustin ("City"); and
B. AB X1 26 ("AB26") added Parts 1.8 and 1.85 to Division 24 of the California Health and
Safety Code, which laws cause the dissolution and wind down of all redevelopment
agencies ("Dissolution Act"); and
C. On December 29, 2011, in the petition California Redevelopment Association v.
Matosantos, Case No. S194861, the California Supreme Court upheld the Dissolution
Act and thereby all redevelopment agencies in California are subject to the Dissolution
Act and were dissolved as of and on February 1, 2012; and
D. The Agency is now a dissolved community redevelopment agency pursuant to the
Dissolution Act; and
E. By a resolution considered and approved by the City Council at an open public meeting
on January 17, 2012, the City chose to become and serve as the "Successor Agency" to
the dissolved Agency under the Dissolution Act; and
F. As of and on and after February 1, 2012, the City serves as the "Successor Agency" and
will perform its functions as the Successor Agency under the Dissolution Act to
administer the enforceable obligations of the Successor Agency and otherwise unwind
the Successor Agency's affairs, all subject to the review and approval by the seven -
member Oversight Board formed thereunder; and
G. Pursuant to Section 34179, the Successor Agency's Oversight Board has been formed
and the initial meeting has occurred on March 13, 2012; and
H. Section 34179(e), as amended by Assembly Bill 1484 ("AB 1484"), requires all actions
taken by the Oversight Board to be adopted by resolution; and
Oversight Board Resolution 18-03
Page 1 of 3
On May 15, 2018, the Successor Agency approved the Last and Final Recognized
Obligation Payment Schedule ("ROPS") for Fiscal Years ("FY") 2019-20 through FY
2040-41; and
J. The Oversight Board has duly considered all other related matters and has determined
that the Board's approval of Last and Final ROPS and submission to the California
Department of Finance is in the best interests of the City and Agency and in 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, BE IT RESOLVED BY A RESOLUTION OF THE
OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE TUSTIN COMMUNITY
REDEVELOPMENT AGENCY:
Section 1. The foregoing recitals are incorporated into this Resolution by this reference,
and constitute a material part of this Resolution.
Section 2. The Oversight Board approves the Last and Final ROPS attached hereto as
Attachment No. 1 and incorporated herein, and further authorizes the Successor Agency to
transmit this Resolution to the County Administrative Officer, County Auditor -Controller, and
the State Department of Finance ("DoF").
Section 3. The Executive Director of the Successor Agency or his authorized designee
is directed to post this Resolution on the City/Successor Agency website.
Section 4. This Resolution shall be effective after the DoF has reviewed and approved
the Last and Final ROPS. Pursuant to California Health and Safety Code (HSC) Section
34191.6(c), the DoF has one hundred (100) business days to review the Last and Final
ROPS.
Section 5. The Secretary of the Oversight Board shall certify to the adoption of this
Resolution.
APPROVED AND ADOPTED this 22nd day of May, 2018.
Doug Dave Chairman
Oversight 136ard of the Successor Agency to the
Tustin Community Redevelopment Agency
ATTEST:
ti
Charles E. "Chuck" Puckett, Secretary
Oversight Board of the Successor Agency to the
Tustin Community Redevelopment Agency
Oversight Board Resolution No. 18-03
Page 2 of 3
STATE OF CALIFORNIA )
COUNTY OF ORANGE )SS
CITY OF TUSTIN )
I, CHARLES E. "CHUCK" PUCKETT, Secretary of the Oversight Board of the
Successor Agency to the Tustin Community Redevelopment Agency, do hereby certify that
the whole number of the members of the Agency Board is seven; that the above and
foregoing Resolution No. 18-03 was duly passed and adopted at a regular meeting of the
Oversight Board, held on the 22nd day of May, 2018, by the following vote:
BOARD MEMBER AYES: Davert, Opel, Puckett, Bernstein, Piquee,
Soria (6)
BOARD MEMBER NOES: (0)
BOARD MEMBER ABSTAINED: (0)
BOARD MEMBER ABSENT: (0)
Charles E. "Chuck" Puckett, Secretary
Oversight Board of the Successor Agency to the
Tustin Community Redevelopment Agency
Attachment No. 1 — Last and Final Recognized Obligation Payment Schedule
Fiscal Year 2019-20 through Fiscal Year 2040-41
Oversight Board Resolution 18-03
Page 3 of 3
ATTACHMENT NO. 1
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
(FY 2019-20 through FY 2040-41)
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