HomeMy Public PortalAbout2012.001 - OBLSA (05-02-12)OVERSIGHT BOARD RESOLUTION NO. 201 �' 00
A RESOLUTION OF THE OVERSIGHT BOARD APPROVING A SECOND RECOGNIZED
OBLIGATION PAYMENT SCHEDULE COVERING THE PERIOD OF JULY 1, 2012 TO
DECEMBER 30, 2012 AND AMENDING THE FIRST RECOGNIZED OBLIGATION
PAYMENT SCHEDULE
WHEREAS, on December 29, 2011, the California Supreme Court issued its
decision in the case California Redevelopment Association, et al. v. Ana Matosantos, etc.,
et al., Case No. S196861, and upheld the validity of Assembly Bill 26 ( "ABx1 26 ") and
invalidated Assembly Bill 27; and
WHEREAS, the Court's decision means that all redevelopment agencies will be
dissolved and their successor agencies will begin to function on February 1, 2012; and
WHEREAS, the City Council of the City of Lynwood elected to serve as the
Successor Agency to the former Lynwood Redevelopment Agency (Successor Agency);
and
WHEREAS, ABx126 imposes various requirements on the successor agencies and
subject successor agency actions to the review of oversight boards which ABx1 26
establishes; and
WHEREAS, Health and Safety Code Section 34177(1) requires successor agencies
to prepare a Recognized Obligation Payment Schedule (ROPS) before each six -month
fiscal year period; and
WHEREAS, the ROPS is subject to approval by the Oversight Board.
NOW, THEREFORE, THE OVERSIGHT BOARD DOES HEREBY RESOLVE AS
FOLLOWS:
Section 1 . Recitals The Recitals set forth above are true and correct and
incorporated herein by reference.
Section 2 Approval to adopt the Second Recognized Obligation Payment
Schedule The Oversight Board hereby approves the Second Recognized Obligation
Payment Schedule covering the period of July 1, 2012 to December 30, 2012, in
substantially the form attached hereto as Exhibit A and to submit this to the Oversight
Board.
Section 3 Approval to amend the First Recognized Obligation Payment
Schedule The Oversight Board hereby approves the First Recognized Obligation
Payment Schedule, in substantially the form attached hereto as Exhibit B and to submit
this to the Oversight Board.
Section 4. Posting; Transmittal to Appropriate Agencies The City Manager is
authorized and directed to post a copy of the Second Recognized Obligation Payment
Schedule and the Amended First Recognized Obligation Payment Schedule on the City's
website. The City Manager or his designee is further authorized and directed to transmit,
by mail or electronic means, to the Los Angeles County Auditor - Controller, the State
Controller and the Department of Finance a copy of the Second ROPS and Amended first
ROPS and to respond to questions and request for documents, and information from the
County and State agencies relating to ABx1 26 compliance.
Section 5 . That the Secretary certify to the adoption of this Resolution.
PASSED, APPROVED and ADOPTED this 2 nd day of May, 2012.
Liu' alenzuela
air
ATTEST:
Rhonda Rangel, D uty Clerk
Los Angeles County Board of Supervisors
Acting as Secretary to the Lynwood Oversight Board
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
I, the undersigned, Secretary to the Oversight Board, do hereby certify that the
above and foregoing Resolution was duly adopted by the Oversight Board to the Lynwood
Successor Agency at a meeting held in the City Hall of said City on 2 nd day of May, 2012,
and passed by the following vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
— '<5� '4' 1 —
Rhonda Rangel, De uty Clerk
Los Angeles County Board of Supervisors
Acting as Secretary to the Lynwood Oversight Board