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Home My WebLink AboutOB Res 16-02 2016-01-26RESOLUTION NUMBER OB16 -02 A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE FISCAL PERIOD FROM JULY 1, 2016 THROUGH JUNE 30, 2017, PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND TAKING CERTAIN RELATED ACTIONS RECITALS: A. Pursuant to Health and Safety Code Section 34177(0), the Successor Agency to the Seal Beach Redevelopment Agency (the "Successor Agency ") must prepare a Recognized Obligation Payment Schedule listing the anticipated payments for enforceable obligations to be made by the Successor Agency during the fiscal period from July 1, 2016 through June 30, 2017 ( "ROPS 16 -17 ") and submit ROPS 16 -17 to the oversight board of the Successor Agency (the "Oversight Board ") for approval. B. Pursuant to Health and Safety Code Section 34177(I)(2)(C) and Section 34177(0)(1), the Successor Agency must: (i) submit the Oversight Board - approved ROPS 16 -17 to the DOF, the Office of the State Controller, and the County Auditor - Controller no later than February 1, 2016, and (ii) post a copy of the Oversight Board - approved ROPS 16 -17 on the Successor Agency's website. NOW, THEREFORE, THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY HEREBY FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS: Section 1. The above recitals are true and correct and are a substantive part of this Resolution. Section 2. The Oversight Board hereby approves the proposed ROPS 16 -17, substantially in the form attached hereto as Exhibit A. Staff of the Successor Agency is hereby authorized and directed to: (i) submit a copy of Oversight Board - approved ROPS 16 -17 to the DOF, the Office of the State Controller, and the County Auditor - Controller and (ii) post a copy of the Oversight Board - approved 16 -17 on the Successor Agency's Internet website (being a page on the Internet website of the City of Seal Beach). Section 3. The Staff of the Successor Agency are hereby authorized and directed, jointly and severally, to do any and all things which they may deem necessary or advisable to effectuate this Resolution, including but not limited to requesting additional review by the DOF and an opportunity to meet and confer on any disputed items, and making adjustments to ROPS 16 -17 pursuant to the DOF's instructions, and any such actions previously taken are hereby ratified and confirmed. 12805- 0001 \1916187vi.doc Resolution Number OB16 -02 PASSED, APPROVED AND ADOPTED by the Oversight Board at a meeting held on the 26th day of January, 2016. �^ AYES: Board Members: ,, �5�giJill , I �V2f. kQ�!"1 (— NOES: Board Members: mohQ. ABSENT: Board Members-I YYJn'1(J. r) .■ , I ?_ 12805 - 0001 \1916187v1.doc 22c Chair, Oversi6ht Bo "a \ Resolution Number OB16 -02 STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SS CITY OF SEAL BEACH ) I, Robin Roberts, Secretary to the Oversight Board, hereby certify that the foregoing resolution was duly adopted at a meeting of the Oversight Board, held on the 26th day of J nuan,r, 20 Secretary, Oversight Board 12805 - 0001 \1916187vi.doc 1Wc11 -311 r_1 SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY RECOGNIZED OBLIGATION PAYMENT SCHEDULE (July 1, 2016 — June 30, 2017) 12805- 0001 \1916187v1.doc Successor Agency: County: Recognized Obligation Payment Schedule (ROPS 16 -17) - Summary Filed for the July 1, 2016 through June 30, 2017 Period Seal Beach ROPS 16 -17 Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 16 -17A Total 16 -17B Total Total Enforceable Obligations Funded with Non - Redevelopment Property Tax Trust Fund ( RPTTF) Funding A Sources (B +C +D): $ _ $ _ $ _ B Bond Proceeds Funding C Reserve Balance Funding D Other Funding E Enforceable Obligations Funded with RPTTF Funding (F +G): F Non - Administrative Costs G Administrative Costs H Current Period Enforceable Obligations (A +E): Certification of Oversight Board Chairman: Pursuant to Section 34177 (o) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named successor agency. $ 1,037,438 $ 203,432 $ 1,240,870 978,215 141,959 1,120,174 59,223 61,473 120,696 $ 1,037,438 $ 203,432 $ 1,240,870 ,—_Name Title Signature ate MY •�4H�r•�r.Atl IdM. 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For tips on how to complete the Report of Cash Balances Form, see CASH BALANCE TIPS SHEET A B C D E F G H Fund Sources Bond Proceeds Reasons Balance Other RPTTF Prior ROPS Prior ROPS period balances RPTTF B on antl DDR RPTTF distributetl as Rent, Non -Admn e Bonds issued on balances reserve for future grants, antl Cash Balance Information ROPS Pedad 1H0 or after 01/01/11 retained edotls interest. etc Admin Comments ROM 15 -16A Actual. (07101115 - 1=111 5 1 Beginning Available Cash Balance (Actual 07101115) 667 2 Revenuellncome(Actual 12131115) RPTTF amounts should tie to the ROPS 15 -16A distnb.f.n to. the County Auditor- Controller during June 2015 664,364 3 Expenditures for ROPS 15 -16A Enforceable Obligations (Actual 12131115) 665.051 4 Retention of Available Cash Balance (Actual MIMS) RPTTF amount retained should only include the amounts distributed as reserve for future periods) 5 Ron 1546A RPTTF Balances Remaining No entry required 6 Ending Actual Available Cash Balance C to G=(1 +2- 3- 4),H =(1 +2 -3 -4. 5) $ S - $ - f f - f ROP515.168 Estimate 01101116 - 06/30116 7 Beginning Available Cash Balance (Actual 01101116) (C, O, E,G =4+6, F= H4+F4+F6,and H =5+6) 6 Revenuenncome(Estimate 06130116) RPTTF amounts should tie to the ROPS 15166 dis0ilmom from the County Auditor - Controller during January 2016 9 Expenditures for ROPS 15.16B Enforceable Obligations (Estimate 06130116) 10 Retenton of Available Cash Balance (Estimate 0613011 6) RPTTF amount fetamad should only Include the amounts distributed as reserve for future periodoo 11 Ending Winuated Available Cash Balance (T +6 -9 -10) f - f - f - S - f - f Seal Beach Recognized Obligation Payment Schedule (RD PS 16-17) - Notes July 1, 2016 through June 30, 2017 —hern# NoteSICOMMents