HomeMy WebLinkAboutOversight Board Reso 14-0018OVERSIGHT BOARD RESOLUTION NO. OB 14 -0018
A RESOLUTION OF THE OVERSIGHT BOARD TO THE DOWNEY
SUCCESSOR AGENCY APPROVING THE RECOGNIZED OBLIGATION
PAYMENT SCHEDULE FOR THE PERIOD JULY 1, 2014 THROUGH
DECEMBER 31, 2014
WHEREAS, as a result of the passage of Assembly Bill 26 from the 2011 -12 First
Extraordinary Session of the California Legislature ( "ABx1 26" or the "Dissolution Act "), the City
of Downey redevelopment agency ( "RDA ") was dissolved on February 1, 2012; and,
WHEREAS, pursuant to Assembly Bill 1484 of the 2011 -12 Legislative Session ( "AB
1484 "), the Downey Successor Agency for the former RDA ( "Successor Agency') is a separate
public agency now charged with winding down the RDA's affairs, including making payments
due for enforceable obligations (as defined in the Dissolution Act), and perform obligations
required pursuant to enforceable obligations; and,
WHEREAS, the Oversight Board to the Successor Agency to the dissolved
redevelopment agency functions of the Downey Community Development Commission has
been appointed pursuant to the provisions of Health & Safety Code Section 34179; and,
WHEREAS, pursuant to Health and Safety Code sections 34177(1) and 34180(g), the
Oversight Board must approve a Recognized Obligation Payment Schedule for it to become
established, valid, and operative for the applicable six -month fiscal period.
NOW, THEREFORE, BE IT RESOLVED BY THE OVERSIGHT BOARD AS
FOLLOWS:
SECTION 1. The foregoing Recitals are true and correct and are incorporated herein.
SECTION 2. The Recognized Obligation Payment Schedule ( "ROPS ") covering the
period of July 1, 2014, through December 31, 2014, attached hereto and incorporated herein by
reference as Exhibit "A", is hereby approved pursuant to Health and Safety Code Sections
34177 and 34180, and any other law that may apply to the approval by the Oversight Board of
the identified ROPS for the identified periods.
SECTION 3. The Secretary or authorized designee is hereby directed to post this
Resolution and the identified ROPS for the identified periods on the Successor Agency's
website, and to provide a copy of the identified ROPS for the identified periods to the State
Controller's Office, State Department of Finance, and the County Auditor - Controller.
SECTION 4. The Secretary shall certify to the adoption of this Resolution.
PASSED AND ADOPTED by the Oversight Board at a meetinoeld on the 27t' day of
February, 2014. V
Z
A na M. Jimenez, CMCI SECR TARY
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS
CITY OF DOWNEY )
I, Adria M. Jimenez, CMC, Secretary to the Oversight Board, hereby certify that the
foregoing resolution was duly adopted at a meeting of the Oversight Board, held on the 27`h day
of February, 2014.
AYES: BOARD MEMBERS:
NOES: BOARD MEMBERS:
ABSENT: BOARD MEMBERS:
Flores, Latham, LaPlante, Chair Saeki
None
Brossmer, Dellawalla, Helvey
OAAU
ria M. Jimenez, CM , SECRETARY
Recognized Obligation Payment Schedule 2014 -15A
(Attached)
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