OB - 2014-0001 - Approving the Recognized Obligation Payment Schedules for the Period of July 1, 2014 Throught December 31, 2014RESOLUTION: 2014 -0001
A RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY
TO THE ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION APPROVING
THE RECOGNIZED OBLIGATION PAYMENT SCHEDULES FOR THE PERIOD OF
JULY 1, 2014 THROUGH DECEMBER 31, 2014
WHEREAS, California Health and Safety Code section 34179 requires that each
Successor Agency have an Oversight Board; and
WHEREAS, Section 34177 requires each Successor Agency to prepare a draft
Recognized Obligation Payment Schedule ( "ROPS ") and section 34180 requires the Oversight
Board to approve same; and
WHEREAS, Section 34177 provides that each ROPS shall be forward looking to the
next six months; and
WHEREAS, section 34177 requires that the ROPS be transmitted to the County
Auditor - Controller, the State Controller and the State Department of Finance; and
WHEREAS, notwithstanding the sequencing contemplated in section 34177, the
Department of Finance is requesting the ROPS be considered by the Oversight Board and
transmitted as soon as possible; and
WHEREAS, the County will not make any payments of property taxes to the Successor
Agency for use in payment of the obligations listed on the ROPS until the ROPS has been
approved by the Oversight Board. Any delay in such payment could impair the Successor
Agency's ability to make payments for the enforceable obligations; and
WHEREAS, the Successor Agency prepared a draft ROPS for the period July 1, 2014
through December 31, 2014 is attached hereto as Exhibit A.
NOW THEREFORE, THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY
TO ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION HEREBY RESOLVES:
1. The ROPS for the period July 1, 2014 through December 31, 2014 attached hereto
as Exhibit A is hereby approved.
2. Successor Agency staff is directed to provide a copy of this Resolution along with
the approved ROPS to the County Auditor - Controller, the State Controller's Office
and the State Department of Finance.
PASSED, APPROVED AND ADOPTED this 19th day of February 2014.
ATTEST:
Matt *w E. wkesworth
Successor Agency Staff
Assistant City Manager
HEREBY CERTIFY that the above foregoing resolution was duly passed and adopted by the Oversight
Board for the Successor Agency to the Rosemead Community Development Commission at its regular
meeting on the 19 day of February 2014, by the following vote, to wit:
Ayes: Allred, Jones, Redo ndo- Churchward, Sotelo,
Noes: None
Absent: Lash, Miller, Wallach
Abstained: None
Math w E. Ha kesworth
Successor Agency Staff
Assistant City Manager