RESOLUTION NO. SA 2023-XX
A RESOLUTION OF THE SUCCESSOR AGENCY OF THE CITY OF FULLERTON, CALIFORNIA, APPROVING AND ADOPTING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 2023-2024 AND ADMINISTRATIVE BUDGET ALLOWANCE (PERIOD COVERING JULY 1, 2023 – JUNE 30, 2024) WHEREAS, the City of Fullerton established the Successor Agency to the Fullerton Redevelopment Agency (the "Successor Agency") to take certain actions to wind down the affairs of the former Fullerton Redevelopment Agency in accordance with the California Health and Safety Code.
WHEREAS, the City will submit the Recognized Obligation Payment Schedule (ROPS) prepared by the Successor Agency to the County Oversight Board for their approval, pursuant to Health and Safety Code Section 3417.
WHEREAS, the ROPS contains a list of enforceable obligations including, but not limited to, the following:
existing bond debt payments
contracts, leases and agreements
administering ongoing affordable housing and loan programs a stipulated judgement
administrative budget allowance.
WHEREAS, the ROPS includes all the funds the City of Fullerton Successor Agency will need to carry out the dissolution process of the former Fullerton Redevelopment Agency and shall identify the funding source of payment for the enforceable obligations listed on the ROPS pursuant to Health and Safety Code Section 34177(l)(1).
WHEREAS, Successor Agency staff has prepared the Recognized Obligation Payment Schedule 2023 - 2024 and administrative budget allowance for the July 1, 2023 – June 30, 2024 time period.
NOW, THEREFORE, THE FULLERTON SUCCESSOR AGENCY TO THE FULLERTON REDEVELOPMENT AGENCY RESOLVES AS FOLLOWS:
The above recitals are true and correct and incorporated by reference herein.
The Successor Agency approves the Recognized Obligation Payment Schedule 2023-2024 and administrative budget allowance (for the time period of July 1, 2023 – June 30, 2024).
The City will transmit this Resolution, including the ROPS 2023-2024, to the Orange County Oversight Board subsequent to Successor Agency approval of this Resolution,.
The Secretary shall certify to the adoption of this Resolution.
ADOPTED BY THE FULLERTON SUCCESSOR AGENCY TO THE FULLERTON REDEVELOPMENT AGENCY ON JANUARY 17, 2023.
Fred Jung Mayor
ATTEST:
Lucinda M. Williams, MMC Secretary
Date
Attachments:
Attachment 1 - Recognized Obligation Payment Schedule 2023-24
EXHIBIT A
Fullerton Successor Agency
Recognized Obligation Payment Schedule 2023-24 (ROPS 2023-24) 1 1