HomeMy WebLinkAboutSuccessor Reso 03-2012 RESOLUTION NO. 03-2012
SUCCESSOR AGENCY, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SOUTH SAN FRANCISCO, ACTING IN ITS CAPACITY AS
SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY
OF THE CITY OF SOUTH SAN FRANCISCO
ADOPTING A DRAFT RECOGNIZED OBLIGATION
PAYMENT SCHEDULE (ROPS) FOR THE PERIOD JULY 1 —
DECEMBER 31, 2012, PURSUANT TO HEALTH AND SAFETY
CODE SECTION 34177(1)
WHEREAS, pursuant to Resolution No. 08 -2012, adopted January 25, 2012, the City of
South San Francisco ( "City ") affirmed its agreement to serve as the Successor Agency to the
Redevelopment Agency of the City of South San Francisco (the "Redevelopment Agency ")
pursuant to Health and Safety Code Section 34173 et seq.;
WHEREAS, pursuant to Health and Safety Code Section 34177(1), before each six -month
fiscal period, the Successor Agency to a dissolved Redevelopment Agency is required to adopt a
draft Recognized Obligation Payment Schedule ( "ROPS ") that lists all of the obligations that are
"enforceable obligations" within the meaning of Health and Safety Code Section 34177, and which
identifies a source of payment for each such obligation from among (i) the Low and Moderate
Income Housing Fund, (ii) bond proceeds, (iii) reserve balances, (iv) the administrative cost
allowance, (v) revenues from rents, concessions, interest earnings, and asset sales, and (vi) the
Redevelopment Property Tax Trust Fund established by the County Auditor - Controller to the
extent no other source of funding is available or payment from property tax is contractually or
statutorily required;
WHEREAS, the draft ROPS must be submitted to and approved by the Oversight Board
established to review Successor Agency actions, posted on the Successor Agency's website, and
transmitted to the County Auditor - Controller, the State Controller and the State Department of
Finance ;
NOW, THEREFORE, the City Council of the City of South San Francisco, acting in its
capacity as the Successor Agency to the Redevelopment Agency of the City of South San
Francisco, does hereby resolve as follows:
1. The Recitals set forth above are true and correct, and are incorporated herein by
reference.
2. The draft Recognized Obligation Payment Schedule (ROPS) attached hereto as Exhibit
A is hereby approved.
3. The City Manager or designee is authorized and directed to take all actions necessary to
implement this Resolution, including without limitation, the submittal of the draft ROPS to the
County Auditor - Controller, the Oversight Board, the State Department of Finance and the State
Controller, and the posting of this Resolution and the draft ROPS on the City's website.
4. The Finance Director is authorized to incorporate the items on the ROPS into the
2012 -13 operating budget.
5. The City Manager and the Finance Director, and their designees, are authorized and
directed to take such actions as necessary and appropriate to carry out and implement the intent of
this Resolution, including without limitation, the establishment of separate accounts and funds as
necessary to appropriately document the receipts and expenditures of the City acting in its capacity
as Successor Agency to the Redevelopment Agency.
I hereby certify that the foregoing Resolution was regularly introduced and adopted by the
City Council of the City of South San Francisco at a regular meeting held on the 25 day of April,
2012 by the following vote:
AYES: Councilmembers Mark Addiego, Karyl Matsumoto, and Kevin Mullin,
Vice Mayor Pedro Gonzalez and Mayor Richard A. Garbarino
NOES: None
ABSTAIN: None
ABSENT: None
ATTEST: - 4 I►
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