ADMINISTRATIVE REPORT
MEETING DATE: February 11, 2026 AGENDA CATEGORY: Successor Agency TO: Honorable Mayor and City Council
FROM: Randy McKeegan, Finance Director
DATE: January 28, 2026
SUBJECT: Receive and file Successor Agency payments from January 7, 2026, to January 27, 2026, totaling $127,589.50.
[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 #9998531 to U S BANK CR:US BANK TRUST NA for $81,251.25 for Debt service payments for Ibank.
Check #9998527 to U S BANK TRUST for $25,687.50 for Debt service payments for Tax Allocation Bonds 2009A.
Check #9998525 to THE BANK OF NEW YORK MELLON for $20,650.75 for Debt service payments for HUD loans.
FISCAL IMPACT:
$127,589.50
COUNCIL GOAL:
Innovative and Efficient City Government
ATTACHMENTS:
Oracle SA Admin Check Register 2.11.26