OB - 2018-001 - Approving the Recognized Obligation Payment Schedules for Period of July 1, 2018 through June 30, 2019 RESOLUTION NO. 2018-001 013
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, 2018
THROUGH JUNE 30, 2019
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
WIIEREAS, 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 Slate 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, 2018
through June 30, 2019 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. 2018 through June 30, 2019 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 29th day of January 2018.
„as-1E4
Chairperso
ATTEST:
Pearl Lieu
Successor Agency Staff
Finance Director
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES) §
CITY OF ROSEMEAD
I. Pearl Lieu, Successor Agency Staff of the Oversight Board of the City of Rosemead,
California, do hereby certify that the foregoing Oversight Board Resolution, No. 2018-001, was
duly adopted by the Oversight Board of the City of Rosemead, California, at a special meeting
thereof held on the 29th day of January, 2018. by the following vote. to wit:
AYES: JONES. MOLLEDA, RUSSELL-CI IAVEZ, SOTELO, STORY!
NOES: NONE
ABSTAIN: NONE
ABSENT: REDONDO-CIIURHWARD
Pearl Lieu
Successor Agency Staff
Finance Director