ADMINISTRATIVE REPORT
MEETING DATE: February 12, 2025 AGENDA CATEGORY: Successor Agency TO: Honorable Mayor and City Council
FROM: Randy McKeegan, Finance Director
DATE: January 31, 2025
SUBJECT: Receive and file Successor Agency payments from January 10, 2025, to January 30, 2025, in the amount of $167,354.40.
[Document Description]
RECOMMENDATION:
Staff recommends report be received and filed.
BACKGROUND:
The City administers payment of Successor Agency enforceable obligation payments as authorized by the State Department of Finance (DOF) to further the dissolution of the former Bakersfield Redevelopment Agency. The Successor Agency has a Recognized Obligation Payment Schedule (ROPS) approved by both the Bakersfield Oversight Board and the DOF. All payments of the Successor Agency must be on this approved listing in order to be valid and authorized payments of the Successor Agency.
A check register is provided which summarizes the transactions processed during the above referenced period. Additional details are provided below for each transaction.
Check #9998363 to THE BANK OF NEW YORK MELLON for $ $31,879.05 for fees for Debt service payments for Ibank, HUD, and Tax Allocation Bonds.
Check #9998365 to U S BANK TRUST NA for $ $48,706.25 for fees for Debt service payments for Ibank, HUD, and Tax Allocation Bonds.
Check #999836 to U S BANK CR:US BANK TRUST NA for $ $86,769.10 for fe es for Debt service payments for Ibank, HUD, and Tax Allocation Bonds.
FISCAL IMPACT:
$167,354.40
COUNCIL GOAL:
Innovative and Efficient City Government
ATTACHMENTS:
Oracle SA Admin Check Register 2.12.25