OB - 2017-01 - Approving recognized obligation payment schedules for the period of July 1, 2017, through June 30, 2018 RESOLUTION NO. 2017-01 OB
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, 2017,
THROUGH JUNE 30, 2018
WHEREAS, California Health and Safety Code section 34179 requires that each
Successor Agency have an Oversight Board; and
WHEREAS, Section 34177 required 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 full year; 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 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, 2017.
through June 30, 2018. 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, 2017, through June 30, 2018, 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 23r1 day of January 2017.
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ATTEST: (/
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Carolyn A. Chu
Successor Agency Staff
Finance Director
I HEREBY CERTIFY that the above and foregoing resolution was duly passed and adopted by
the Oversight Board for the Successor Agency to the Rosemead Community Development
Commission at its special meeting held on the 23`d day of January 2017, by the following vote, to
wit:
AYES: JONE, MANIS, RUSSELL-CHAVEZ, STORTI
NOES: NONE
ABSENT: REDONDO-CHURCH WARD, SOTF.LO, WALLACH
ABSTAIN: NONE
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Carolyn A. Chu "
Successor Agency Staff
Finance Director