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Resolution Number SJCOB 12-05-02-02OVERSIGHT BOARD RESOLUTION NO. 12-05-02-02 A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY APPROVING THE REVISED RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD FROM JANUARY 1, 2012, TO JUNE 30, 2012, AND FROM JULY 1, 2012, TO DECEMBER 31, 2012, PURSUANT TO CALIFORNIA HEALTH AND SAFETY CODE, DIVISION 24, PART 1.85; AUTHORIZE POSTING AND TRANSMITTAL THEREOF WHEREAS, the San Juan Capistrano Community Redevelopment Agency ("Agency") is a community redevelopment agency duly organized and existing under the Califomia Community Redevelopment Law, Health and Safety Code Section 33000, et seq. ("CRL"), and has been authorized to transact business and exercise the power of a redevelopment agency pursuant to action of the City Council ("City Council") of the City of San Juan Capistrano ("City"); and WHEREAS, Assembly Bill X1 26 added Parts 1,8 and 1.85 to Division 24 of the California Health & Safety Code, which laws cause the dissolution and wind down of all redevelopment agencies ("Dissolution Act'); and WHEREAS, on December 29, 2011, in the petition California Redevelopment Association v. Matosanfos, Case No. 5194861, the California Supreme Court upheld the Dissolution Act and thereby all redevelopment agencies in California were dissolved as of and on February 1, 2012 under the dates in the Dissolution Act that were reformed and extended thereby ("Supreme Court Decision"); and WHEREAS, the Agency is now a dissolved redevelopment agency pursuant to the Dissolution Act; and WHEREAS, by a resolution considered and approved by the City Council at an open public meeting the City chose to become and serve as the successor agency to the dissolved Agency under the Dissolution Act; and WHEREAS, as of and on and after February 1, 2012, the City serves and acts as the "Successor Agency" and will perform its functions as the successor agency under the Dissolution Act to administer the enforceable obligations of the Agency and otherwise unwind the Agency's affairs, all subject to the review and approval by a seven -member oversight board ("Oversight Board"); and WHEREAS, pursuant to Section 34179, the Successor Agency's Oversight Board has been formed and the initial meeting has occurred on April 9, 2012; and WHEREAS, Section 34179 provides that the Oversight Board has fiduciary responsibilities to holders of enforceable obligations and the taxing entities that benefit from distributions of property tax and other revenues pursuant to Section 34188 of Part 1.85 of the Dissolution Act; and 5/2/2012 WHEREAS, by resolution on August, 16, 2011, the former Agency adopted Resolution No. CRA 11-08-16-01 approving the Enforceable Obligation Payment Schedule ("EOPS") dated August 16, 2011, and approved Resolution No. CRA 11-11- 15-01 on November 15, 2011 and Resolution No. CRA 12-01-24-01 on January 24, 2012, amending the EOPS pursuant to Section 34169(g) of the Dissolution Act; and WHEREAS, by resolution on March 6, 2012, the Successor Agency adopted Resolution No. SACRA 12-03-06-01 to approve the initial Recognized Obligation Payment Schedule ("ROPS") for the period from January 1, 2012, through June 30, 2012, pursuant to Section 34177 of the Dissolution Act and has submitted such ROPS to the Oversight Board; and WHEREAS, by resolution on April 9, 2012, the Oversight Board adopted Resolution No. OB 12-04-09.04 to approve the ROPS for the period from January 1, 2012, through June 30, 2012,and to authorize the Successor Agency to post the ROPS on the City/Successor Agency website and to transmit the ROPS to the County Auditor - Controller, the State Department of Finance ("DOF"), and the State Controller's Office; and WHEREAS, by resolution on April 17, 2012, the Successor Agency adopted Resolution No. SACRA 12-04-17-01 to approve the ROPS for the period from July 1, 2012, through December 31, 2012 pursuant to Section 34177 of the Dissolution Act and has submitted such ROPS to the Oversight Board; and WHEREAS, the Agency now desires to amend the ROPS for the period from January 1, 2012, through June 30, 2012, and the ROPS for the period from July 1, 2012, through December 31, 2012, to address the revisions requested by the State Department of Finance (DOF); WHEREAS, the Oversight Board has received, reviewed, and desires to approve the ROPS and to authorize the Successor Agency to post the ROPS on the City/Successor Agency website and to transmit the ROPE to the County Auditor - Controller, the State Department of Finance ("DOF"), and the State Controller's Office; and WHEREAS, pursuant to the Dissolution Act, the actions of the Oversight Board, including those approved by this Resolution, do not become effective for three (3) business days pending any request for review by the DOF, and if the DOF requests review hereof, the DOF will have 10 days from the date of its request to approve this Oversight Board action or return it to the Oversight Board for reconsideration and the action, if subject to review by DOF, will not be effective until approved by DOF. NOW, THEREFORE, BE IT RESOLVED BY THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY: Section 1. The foregoing recitals are incorporated into this Resolution by this reference, and constitute a material part of this Resolution. 2 5/2/2012 Section 2. Pursuant to the Dissolution Act, the Oversight Board approves the ROPS submitted herewith as Exhibit A, which schedules are incorporated herein this reference. Section 3. The Oversight Board authorizes the Successor Agency to transmit the ROPS to the County Auditor -Controller, the State Department of Finance, and the State Controller's Office. Section 4. The City Manager of the Successor Agency or her authorized designees are directed to post the EOPS and ROPE on the City/Successor Agency website pursuant to the Dissolution Act. Section 5. The Resolution shall be effective after transmittal of this Resolution with the ROPS attached to the DOF and the expiration of three (3) business days pending a request for review from the DOF within the time periods set forth in the Dissolution Act; in this regard, if the DOF requests review hereof it will have 10 days from the date of its request to approve this Oversight Board action or return it to the Oversight Board for reconsideration and the action, if subject to review by DOF, will not be effective until approved by DOF. Section 6. The Secretary of the Oversight Board shall certify to the adoption of this Resolution. Section 7. PASSED, APPROVED and ADOPTED this 2nd day of May 2012. Laura Freese, Chair ATTEST aria M1 rrio, Oversight•Sbgrd Secretary 512f2012 STATE OF CALIFORNIA } COUNTY OF ORANGE ) ss. CITY OF SAN JUAN CAPISTRANO } I, MARIA MORRIS, appointed Oversight Board Secretary of the Oversight Board to the Successor Agency of the San Juan Capistrano Community Redevelopment Agency, do hereby certify that the foregoing Oversight Resolution 12-05-02-02 was duty adopted by the Board Members of the Oversight Board to the Successor Agency of the San Juan Capistrano Community Redevelopment Agency at a special meeting thereof, held the 2"d day of May, 2012, by the following vote: AYES` BOARD MEMBERS: Doll, Hampton, McCord, Tatarian, Thomas, Kerr and Chair Freese NODS BOARD MEMBERS: None ABSENT:` �\ BOARD MEMBERS: None MARIAMORMS, OVERSIGHT B'?ARD SECRETARY 4 5/2/2012 EXHIBIT "A" - Page 1 R 8 r ci w w w w w w w w w w w www w Fn �, w w w w w w w w w w w w w w t E ¢ $ M 8 M W LL ? o o v o 8 ti p N w w N w w w w 2 a LL ®® w w pw H pM C q A � N! w w ut r aaunog u u u v u u v u u u u u pw p oi m p �LL 'o s � p S 8 8 8 88 8 g tpo3 8a `Q�p' 0 0 �p8i M m m Q �0} w a O o � o N N to o W v N n pop N as $ ro o d � t1 a0 ti m N v a d �a L �❑ w w w w w w d � � s a z s a ❑ W @r ¢¢ ry U N 9 N LL ry LL N W N m To N N' L 61 mg s _N_ oma .4.4�o m `ado m m m ovo m H w g r'Eo n aa[C¢a o E.gc 4a4 cat¢ E`t to .� ¢' o f c c a E a a wd E a E a Cue w E a w 8a m Q am 2� as es V J N o 0 a LL c a¢ o z x x �. a m m m m E d v E 4N m C _O C O e1 C m r�i rii T a w w O 4 a c 5 2 Z Q ! m m EO ofo P N `c 4 W N L LL` N ei v o �n O m O¢ ar m o A M a m W m N a �'Sg m Sm o aw. 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