RESOLUTION NO. SA 12- 13 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MADERA AS THE SUCCESSOR AGENCY TO THE FORMER MADERA REDEVELOPMENT AGENCY OF THE CITY OF MADERA, ADOPTING THE FOURTH UPDATED RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS) OF THE FORMER REDEVELOPMENT AGENCY PURSUANT TO SECTION 34177(a)(l) OF THE CALIFORNIA HEALTH AND SAFETY CODE FOR THE PERIOD JANUARY 1, 2012 THROUGH JUNE 30, 2012 WHEREAS, in connection with the approval and adoption of the State Budget for Fiscal Year 2011-2012, the California Legislature adopted, and the Governor signed, ABxl 26 (the "Dissolution Act"), which, after the California Supreme Court's ruling on December 29, 2011 , has had the effect of dissolving all redevelopment agencies in the State of California; and WHEREAS, the City of Madera has accepted the designation as the Successor Agency ("Agency") as that term is defined in the Dissolution Act, which has been authorized to wind down the business of the former Madera Redevelopment Agency; and WHEREAS, the Dissolution Act required that each redevelopment agency adopt an Recognized Obligation Payment Schedule (ROPS) for payments the redevelopment agency was obligated to make; and WHEREAS, the Successor Agency to the former Madera Redevelopment Agency did adopt the third updated Recognized Obligation Payment schedule on April 11 , 2012 (for the period from January 1, 2012 through June 30, 2012); and WHEREAS, the Agency reserves the right to amend the ROPS in the future should additional expenses for recognized obligations be identified; and WHEREAS, Section 34177(a)(l) of the California Health and Safety Code (added by the Dissolution Act) requires the Successor Agency to adopt the ROPS. NOW, THEREFORE the City Council of the City of Madera as the Successor Agency to the former Madera Redevelopment Agency of the City of Madera hereby finds, determines,
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RESOLUTION NO. SA 12- 13
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MADERA AS THE SUCCESSOR AGENCY TO THE FORMER MADERA REDEVELOPMENT AGENCY OF THE CITY OF MADERA, ADOPTING THE FOURTH UPDATED RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS) OF THE FORMER REDEVELOPMENT AGENCY PURSUANT TO SECTION 34177(a)(l) OF THE CALIFORNIA HEALTH AND SAFETY CODE FOR THE PERIOD JANUARY 1, 2012 THROUGH JUNE 30, 2012
WHEREAS, in connection with the approval and adoption of the State Budget for Fiscal
Year 2011-2012, the California Legislature adopted, and the Governor signed, ABxl 26 (the
"Dissolution Act"), which, after the California Supreme Court' s ruling on December 29, 2011 , has
had the effect of dissolving all redevelopment agencies in the State of California; and
WHEREAS, the City of Madera has accepted the designation as the Successor Agency
("Agency") as that term is defined in the Dissolution Act, which has been authorized to wind
down the business of the former Madera Redevelopment Agency; and
WHEREAS, the Dissolution Act required that each redevelopment agency adopt an
Recognized Obligation Payment Schedule (ROPS) for payments the redevelopment agency was
obligated to make; and
WHEREAS, the Successor Agency to the former Madera Redevelopment Agency did
adopt the third updated Recognized Obligation Payment schedule on April 11 , 2012 (for the
period from January 1, 2012 through June 30, 2012); and
WHEREAS, the Agency reserves the right to amend the ROPS in the future should
additional expenses for recognized obligations be identified; and
WHEREAS, Section 34177(a)(l) of the California Health and Safety Code (added by the
Dissolution Act) requires the Successor Agency to adopt the ROPS.
NOW, THEREFORE the City Council of the City of Madera as the Successor Agency to
the former Madera Redevelopment Agency of the City of Madera hereby finds, determines,
resolves and orders as follows:
1. The recitals listed above are true and correct.
2. The Agency hereby approves and adopts the Fourth Updated ROPS attached hereto
as Exhibit A.
3. The Agency authorizes and directs the Executive Director to:
(a) Present a copy of the adopted ROPS to the Oversight Board for approval.
(b) Transmit a copy of the adopted ROPS by mail or electronic means to the
State Department of Finance, the State Controller, and Madera County Auditor-Controller.
(c) Post the ROPS on the City's website.
4. The Agency designates its Executive Director to whom the Department of Finance
may make requests for information and who shall provide the department with his telephone
number and email address for purposes of communication.
5. This resolution is effective immediately upon adoption.
* * * * * * * * * * *
Reso. No. SA 12-13 2
PASSED AND ADOPTED by the City Council of the City of Madera as the Successor Agency to the former Madera Redevelopment Agency of the City of Madera this 9111 day of May 2012, by the following vote:
A YES: Agency Members Frazier, Medellin, Bomprezzi, Svanda and Poythress
NOES: None
ABSENT: None
Brett Frazier, Mayor
Approved as to Legal Form:
J. Brent Richardson, General Counsel
Reso. No. SA 12-13
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Madera Red4vetopment Agency ROA Ml, M2, tA3
Une Pfciect Uame I Debt Ob?ioation
1 1998Tax Allo<ation Bond 2 2003 Tax Al:Ocat>on 60nd
3 2008A Tax AJ'.ocat'oo Bood
4 20088 Tax Alloca~~ Bond 5 BtlY/.IT Trustee rees 1998 Setias 6 BNYMT Trustee fee.s 2003 Series
BNYMTTruslee fees 2006 Series & 7 Arb~traoe
8 Aribilr30:1J CakualtJom ·contract 9 Bond Disemination
10 Stafa Ca1HFA loon HELP 11 Annual AL.t<it Pro!ect manaaement 12 CoofnuiM Disclosure Rot 13 Annual Reoort 14 5 Year Imo Plan 15 Slatern-Onloflndebledness 16 Stal&Confro!ters Reoorl 17 HCDReoort 16 Slandard & POO<S Reoort 19 AB 987 Re..v'U'i:nn 20 Affordable Housina Monr1ortnn 21 ProoertvMana:aemenl 22 Public Notice Reauirement
SA & Ovm!ght Board l.!eeMg pre 23 &oo•t 24 OSCA GRAIIT 25 Reauked Pub.fie Uolitioo