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Home My WebLink AboutRES NO OB002-17RESOLUTION NO. 06 0 02— A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE DISSOLVED BAKERSFIELD REDEVELOPMENT AGENCY APPROVING SUCCESSOR AGENCY'S LAST AND FINAL RECOGNIZED OBLIGATON PAYMENT SCHEDULE ( "LAST AND FINAL ROPS "). WHEREAS, Assembly Bill xl 26 ( "ABxI 26 ") was passed by the State legislature on June 15, 2011, and signed by the Governor on June 28, 2011, and AB 1484 was approved by the Governor, effective June 17, 2012; and WHEREAS, among other things, ABxI 26 adds and AB 1484 amends Part 1.85 to the California Health and Safety Code, including Health and Safety code Section 34170, et seq.; and WHEREAS, by enactment of Part 1.85 of Division 24 of the Health and Safety Code, the Bakersfield Redevelopment Agency was dissolved as of February 1, 2012, such that the Successor Agency of the dissolved Bakersfield Redevelopment Agency ( "Successor Agency ") shall be designated as successor entity to the former redevelopment agency under Health and Safety Code Section 34173, subdivision (a); and WHEREAS, Part 1.85 of Division 24 of the health and Safety Code was further amended by the enactment of Senate Bill 107 on September 22, 2015, which bill revised certain parameters regarding submission of schedules of recognized obligations by successor agencies, including adding authority for successor agencies to submit a Last and Final Recognized Obligation Payment Schedule (Last and Final ROPS) commencing January 1, 2016, under specified circumstances; and WHEREAS, pursuant to subdivision (a) of Health and Safety Code Section 34191.6, beginning January 1, 2016, successor agencies that have received a Finding of Completion have the option to submit a Last and Final ROPS to the Department of Finance (DOF) at any time, if all the following conditions are met: The successor agency's remaining debt is limited to administrative costs and payments pursuant to enforceable obligations with defined payment schedules including, but not limited to, debt service, loan agreements, and other contracts. 2. All remaining obligations have been previously listed on a Recognized Obligation Payment Schedule (ROPS) and approved for payment by the DOF, pursuant to subdivision (m) or (o) of health and Safety Code Section 34177. - Page 1 of 3 Pages - 3. The successor agency is not a party to pending litigation, except as specified in subdivision (a)(3) of Health and Safety Code Section 34191.6. and WHEREAS, with the submission and approval by the DOF of the Annual ROPS 17 -18 approved by the Oversight Board pursuant to Item 3.1b. of its Agenda for today, the Successor Agency will meet all of the above conditions for submitting a Last and Final ROPS; and WHEREAS, the attached Last and Final ROPS identifies each enforceable obligation on which payments will be required to be made by the Successor Agency from and after July 1, 2018, until its termination; and WHEREAS, pursuant to subdivision (b) and (c) of Health and Safety Code Section 34191.6, the Last and Final ROPS must be approved by this Board before it can be submitted to the DOF for its review and final approval (or disapproval), which can take up to 100 days; and WHEREAS, pursuant to subdivision (b) of Health and Safety Code Section 34191.6, a copy of the approved Last and Final ROPS must be submitted to the Auditor - Controller of the County of Kern, the State Controller's Office, and the State Department of Finance, and be posted on the Successor Agency's Internet Web site upon approval of the Last and Final ROPS by the Oversight Board. NOW, THEREFORE, BE IT RESOLVED by the Oversight Board as follows: The foregoing recitals are true and correct. 2. The Oversight Board, at its special meeting of January 23, 2017, reviewed and considered the Last and Final ROPS presented by the Successor Agency. 3. The Last and Final ROPS, as set forth in Exhibit "A" attached hereto and by this reference incorporated herein, is hereby approved by the Oversight Board. 4. The Oversight Board authorizes and directs the Successor Agency to the dissolved Bakersfield Redevelopment Agency staff to take all actions necessary under the Dissolution Act to post the Last and Final ROPS on the Successor Agency website, transmit the Last and Final ROPS to the Auditor - Controller of the County of Kern and to the State Controller and the State Department of Finance, and to take any other actions necessary to ensure the validity of the Last and Final ROPS or the validity of any enforceable obligation or other agreement approved by the Oversight Board in the Resolution. C w.... r.„m R. -.- - Page 2 of 3 Pages - PASSED AND ADOPTED by the Oversight Board of the special meeting held on January 23, 2017. ATTEST: STATE OF CALIFORNIA COUNTY OF KERN } CITY OF BAKERSFIELD } I, PAMELA McCARTHY, Acting Secretary to the Oversight Board, hereby certify that the foregoing resolution was duly adopted at the special meeting of the Oversight Board on January 23, 2017. BOARD MEMEBERS: Bentley, , Jay, , Tandy and Teglia N ES: BOARD MEMBERS: N*r\9 ABSEN ' BOARD MEMBERS: G A . m Gc,� -L � PAMELA McCARTHY, Acting Secre�ry APPROVED JAN 2 3 2017 CHILLI BENTLE HAIR, Oversight oard APPROVED AS TO FORM: VIRGINIA GENNARO City At rney By SHUA H. 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