HomeMy WebLinkAboutSuccessor Reso 03-2014 RESOLUTION NO. 03-2014
RESOLUTION OF THE SUCCESSOR AGENCY TO THE FORMER REDEVELOPMENT
AGENCY OF THE CITY OF SOUTH SAN FRANCISCO
REVIEWING AND APPROVING THE SUBMITTAL TO THE
SUCCESSOR AGENCY OVERSIGHT BOARD OF A
RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS)
FOR THE PERIOD JANUARY THROUGH JUNE 2015 (ROPS
14-15B), PURSUANT TO HEALTH AND SAFETY CODE
SECTION 34177(1)
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 prepare 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) bond proceeds, (ii)
reserve balances, (iii) the administrative cost allowance, (iv) revenues from rents, concessions,
interest earnings, loan repayments, or asset sales, or (v) 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; and
WHEREAS, pursuant to Health and Safety Code Section 34177(j), the Successor Agency
also must prepare a proposed administrative budget and submit it to the Oversight Board for
approval, including the estimated amounts for Successor Agency administrative costs for the
upcoming six-month fiscal period and proposed sources of payment for those costs; and
WHEREAS, once the ROPS is approved by the Oversight Board,the ROPS must be 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 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 was
reviewed by the Successor Agency and will be submitted to the Oversight Board.
3. The City Finance Director is authorized to modify the draft ROPS to correct errors, to update
the ROPS if necessary as a result of the subsequent review by the Oversight Board, and provide
clarifications consistent with requirements of the State Department of Finance and the intent of
this Resolution.
4. The Executive Director of the Successor Agency 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 Oversight Board, the County Auditor-Controller, the County Administrative
Officer, the State Department of Finance, and the State Controller, and the posting of this
Resolution and the draft ROPS on the Successor Agency's website.
5. The Finance Director is authorized to incorporate the items on the ROPS into the 2014-15
operating budget once the ROPS is approved.
6. The Executive Director 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 Successor Agency.
7. The Executive Director of the Successor Agency and/or his designee are authorized to
execute contracts and agreements for the items listed on the January through June 2015 ROPS, as
approved by the Oversight Board, in up to the amounts specified on the approved ROPS for such
items, unless specifically directed otherwise by the Board.
* * * * *
I hereby certify that the foregoing Resolution was regularly introduced and adopted by the
Successor Agency of the City of South San Francisco Redevelopment Agency at a special meeting
held on the 10th day of September,2014 by the following vote:
AYES: Boardmembers Mark N. Addiego, Pradeep Gupta, and Liza Normandy
Vice Chair Richard A. Garbarino Chairwoman Karyl Matsumoto.
NOES: None.
ABSTAIN: None.
ABSENT: None.
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