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Home My WebLink AboutSA Res SA15-02 2015-10-12RESOLUTION NUMBER SA15 -02 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY TO THE CITY OF SEAL BEACH REDEVELOPMENT AGENCY APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS) PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 FOR THE SIX -MONTH FISCAL PERIOD COMMENCING JANUARY 1, 2016 AND ENDING JUNE 30, 2016, AND TAKING CERTAIN ACTIONS IN CONNECTION THEREWITH RECITALS: A. Pursuant to Health and Safety Code Section 34177(1), the Successor Agency to the City of Seal Beach Redevelopment Agency (the "Successor Agency ") must prepare a proposed Recognized Obligation Payment Schedule ( "ROPS ") before each six -month fiscal period (commencing each January 1 and July 1) and submit each proposed ROPS to the Oversight Board for the Successor Agency (the "Oversight Board ") for approval. B. Pursuant to Health and Safety Code Section 34177(I)(2)(C) and (m), the Successor Agency must (1) submit the Oversight Board - approved ROPS for the six - month fiscal period from January 1, 2016 through June 30, 2016 ( "ROPS 15- 1613"), to the DOF, the Office of the State Controller, and the County Auditor - Controller no later than 90 days before the next scheduled Redevelopment Property Tax Trust Fund disbursement date in January 2016; and (2) post a copy of the Oversight Board - approved ROPS 15 -16B on the Successor Agency's website. NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE SUCCESSOR AGENCY TO THE SEAL BEACH REDEVELOPMENT AGENCY ( "SUCCESSOR 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. This Resolution is adopted pursuant to Health and Safety Code Section 34177. Section 3. The Board hereby approves the ROPS substantially in the form attached as Exhibit A to this Resolution and incorporated herein by reference. The Executive Director of the Successor Agency, in consultation with the Successor Agency's legal counsel, may modify the ROPS as the Executive Director or the Successor Agency's legal counsel deems necessary or advisable Section 4. The officers and 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, submitting the ROPS to the oversight board for approval, and any such actions previously taken by such officers and staff are hereby ratified and confirmed. PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Successor Agency at a meeting held on the 12`h day of October, 2015. AYES: Board Members: Deaton, Sloan, Miller, Massa- Lavitt, Varioaoa NOES: Board Members: None ABSENT: Board Members: None ABSTAIN: Board Members: ON.. Resolution Number SA15 -02 ATTEST: j V/W� P 1t``'� Acting City Clerk/Secretary STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SS CITY OF SEAL BEACH ) I, Tina Knapp, Secretary to the Successor Agency to the Seal Beach Redevelopment Agency, hereby certify that the foregoing resolution is the original copy of Resolution Number SA15 -02 is on file in the office of the City Clerk, passed, approved, and adopted by the Board of Directors of the Successor Agency, held on the 12th day of October, 2015. Acting City Clerk /Secretary Recognized Obligation Payment Schedule (ROPS 15 -16131 - Summary Red forthe January 1, 2016M=gh June 30, M16 Period Nmne of Successor Agency: Seal Beach Name of County: Orange Current Period Requested Funding for Outstanding Debt or Obligation Six -Month Total Enforceable Obligations Funded with Non - Redevelopment Property Tax Trust Fund ( RPTTF) Funding A Sources B Band Proceeds Funding (ROPS Detail) C Reserve Balance Funding (ROPS Detail D Other Fundng(ROPS Detail E Enforceable Obligations Funded with RPTTF Funding(F+G): $ 638,320 F Non - Administrative Costs (ROPS Detal 474,450 G Administrative Costs (ROPS Detail 83.870 H Total Curren Period Enforceable Obliged.. (A +E): f 6aa,= Successor Agency Selilteporied Prior Period Adjustment to Current Period RPTTF Requested Funding I Enforceable Obligations funded welt RPTTF (E): 538,320 J Less Prior Period Adjustrnenl (Report of Frier Pend Adjustments Column S) N Adjusted Current Period RPTTF Requested Funding (W) 3 638,320 County Auditor Controller Reported Prior Period Adjustment o Current Period RPTTF Requested Funding L Enforceable Obfpabore funded with RPTIrF(F): 536.320 M Lea Prior Period Adjustment (Report a Prior Period Adpwanmds Colunn AA) N Adjusted Current Failed RPTTF Requested Funding (L -M) 538,328 Certification a Oversight Board Chairman: Pursuant to Section 34177 (m) of the Heats and Safety, code, I hereby certify teal Me above is a Mme and accurate Recognized Obligation Payment Schedule for the above named agency s/ Name Signawne TNe Date Seal Beach Recognized Ohligalion Payment Schedule (ROPS 15-16B)- ROPS Detail January 1, 2016 ihmugh June 30, 2016 (Report Amounts in Whde Dollars) A B L O E F G N 1 i K L M O P m yua �bpmM PrgaM TA irinl FW NaWPTTF gmiF Lnre.aplpO On.". iyl :Wpnbp Im Pe ml Dtl Dan? 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For tips on how to complete the Report of Cash Balances Form, see Cash Balance Tins Sheet A B C D E F G H Fund Sources Bond Proceeds Reserve Balance Other RP Prior BOPS Prior ROPS balance penod balances RPTTF Bonds Issued on and DDR astributed as Rant, Non -Admin or before Bonds Issued on balances reserve for future Grants, and Cash Balance Information by ROPS Period 121J1/10 or after 01 Ml 111 relone0 ad(s) Interest. Etc. Admin Comments ROPS 14-15B Acluala (0110111115 - M30115 1 Beginning Available Cash Balance (Actual 01 101115) 49 38,858 2 Revenuarcome(Actual 06/]6/15) RPTTF amounts should tie to Me ROPS 14-158 M.Mbubon from Me County Auddar- Conrder during January 2015 419.751 3 Expenditures for ROPS 14158 Enforceable Obligations (Actual smarts) RPTTF amounts, H3 plus Ib should equal total recurred actual expenditures in the Report of PPA, Columns L and 0 456.572 No total in MA miumn 0 4 Retention of Available Cash Balance 06/30/15) RPTTF amount retained ahouxi only include Me amounts disMbutea ss reserve for future penod(s) 5 ROPS 14-158 RPTTF Prior Period Adjustment RPTTF amount should fie to Me self- reported ROPS 14-15B PPA in the No entry required! Report of PPA Column S 6 Ending Actual Available Cash Balance CWG =(1 .2 -, H= 11.2.3 -4 -5) f Js Js 49 f 37 ROPS1618AEMimab 07N1/16- 1231116 7 Beginning Avellable Cash Balance(A Wa107101115) (C,D,E,G =4.6,F= H4.F4♦F6,and H =5i8) f - f 49 f 37 8 Revenuegncome (Estimate 12/31115) RPTTF amounts should be to Me ROPS 15-18A dis buWn from Me Coun (yAudRdrLOrbeller during June 2015 661384 9 Expenditures for ROPS 15 -18A Enforceable Obflgatioru, fiEstimade 12131115) 686252 10 Retention of Available Cash Balance (Estimate ID31115) RPTTF amount retained should only include the amounts distributed as reserve for future penodls) 11 Ending Estimated Avalable Cash Balance (7.8-9-10) f - f - f - f - f l9 f 21831 I[em # M the Seal Beach Recognized Obligation Payment Schedule (ROPS 15-168) - Notes January 1, 2016 throuqh June 30, 2016 re