RESOLUTION NO. SA-2025-XX
A RESOLUTION OF THE SUCCESSOR AGENCY OF THE CITY OF
FULLERTON, CALIFORNIA, APPROVING AND ADOPTING THE
RECOGNIZED OBLIGATION PAYMENT SCHEDULE 202 5-26 AND
ADMINISTRATIVE BUDGET ALLOWANCE (PERIOD COVERING JULY 1, 2025 THROUGH JUNE 30, 2026)
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 former Fullerton Redevelopment Agency affairs 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 approval pursuant to Health and Safety Code Section 34177.
WHEREAS the ROPS contains a list of enforceable obligations including, but not limited to, the following:
1. Existing bond debt payments and associated fees
2. Administrative budget allowance for accounting staff.
WHEREAS the ROPS includes all funds the City of Fullerton Successor Agency will need to carry out the former Fullerton Redevelopment Agency dissolution process and identifies the payment funding source for enforceable obligations listed on the ROPS pursuant to Health and Safety Code Section 34177(l)(1).
WHEREAS Successor Agency staff prepared the Recognized Obligation Payment Schedule 2025 - 2026 and administrative budget allowance for July 1, 2025 through June 30, 2026.
NOW, THEREFORE, THE FULLERTON SUCCESSOR AGENCY TO THE FULLERTON REDEVELOPMENT AGENCY RESOLVES AS FOLLOWS:
1. The above recitals are true and correct and incorporated by reference herein.
2. The Successor Agency approves the Recognized Obligation Payment Schedule 2025-26 and administrative budget allowance (for July 1, 2025 through June 30, 2026).
3. The City will transmit an executed copy of this Resolution, including the ROPS 2025- 2026, to the Orange County Oversight Board.
4. The Secretary shall certify adoption of this Resolution.
ADOPTED BY THE FULLERTON SUCCESSOR AGENCY TO THE FULLERTON Resolution No. SA 2025-XX
REDEVELOPMENT AGENCY ON JANUARY 7, 2025.
___________________________
Fred Jung
Mayor
ATTEST:
___________________________
Lucinda Williams, MMC
Secretary
___________________________
Date
Attachments:
• Attachment 1 – Recognized Obligation Payment Schedule 2025-26
Recognized Obligation Payment Schedule (ROPS 25-26) - Summary Filed for the July 1, 2025 through June 30, 2026 Period Successor Agency: Fullerton
County: Orange
Current Period Requested Funding for Enforceable
Obligations (ROPS Detail)
25-26A Total
(July -
December)
25-26B Total
(January -
June)
ROPS 25-26
Total
A Enforceable Obligations Funded as Follows (B+C+D) $ - $ - $ - B Bond Proceeds - - -
C Reserve Balance - - -
D Other Funds - - -
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) $ 2,858,849 $ 5,095,167 $ 7,954,016 F RPTTF 2,855,849 5,092,167 7,948,016
G Administrative RPTTF 3,000 3,000 6,000
H Current Period Enforceable Obligations (A+E) $ 2,858,849 $ 5,095,167 $ 7,954,016 Certification of Oversight Board Chairman:
Name Title
Pursuant to Section 34177 (o) of the Health and Safety
code, I hereby certify that the above is a true and
accurate Recognized Obligation Payment Schedule for
the above named successor agency. /s/
Signature Date
Fullerton
Recognized Obligation Payment Schedule (ROPS 25-26) - ROPS Detail July 1, 2025 through June 30, 2026
A B C D E F G H I J K L M N O P Q R S T U V W
Item
# Project Name Obligation
Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired
ROPS
25-26
Total
ROPS 25-26A (Jul - Dec)
25-26A
Total
ROPS 25-26B (Jan - Jun)
25-26B
Total
Fund Sources Fund Sources
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
$7,985,016 $7,954,016 $- $- $- $2,855,849 $3,000 $2,858,849 $- $- $- $5,092,167 $3,000 $5,095,167 11 Lease: Ron
Miller
Miscellaneous 08/01/
2004
08/01/2024 Ronald F
Miller
Trust
Property
lease
Merged - Y $- - - - - - $- - - - - - $-
27 Administrative
Cost
Allowance FY
2024-25
Admin Costs 07/01/
2024
06/30/2025 Fullerton
Successor
Agency
Administrative
expenses for
Successor
Agency
Merged 6,000 N $6,000 - - - - 3,000 $3,000 - - - - 3,000 $3,000 49 Bond Debt
Service Fees
Fees 07/01/
1998
06/30/2028 US Bank
and Wells
Fargo
Bond Debt
Service Fees
Merged 40,500 N $9,500 - - - - - $- - - - 9,500 - $9,500 60 2015 Tax
Allocation
Refunding
Bonds
(refunded
1998
Revenue
Bonds)
Refunding
Bonds Issued
After 6/27/12
01/28/
2015
12/31/2025 US Bank Debt service
payment on
2015 Tax
Allocation
Refunding
Bonds
Merged - N $- - - - - - $- - - - - - $-
62 Miller
Property
Purchase
Miscellaneous 07/06/
2004
08/01/2024 Ronald F
Miller
Family
Trust
Purchase of
real estate
per Purchase
and Sale
Agreement
dated 7/6/
2004
Merged - N $- - - - - - $- - - - - - $-
63 2020 Series
A & B Tax
Allocation
Refunding
Bonds
Refunding
Bonds Issued
After 6/27/12
09/01/
2020
12/31/2027 US Bank Refunding
bonds
Merged
Project
Area
7,938,516 N $7,938,516 - - - 2,855,849 - $2,855,849 - - - 5,082,667 - $5,082,667 Fullerton
Recognized Obligation Payment Schedule (ROPS 25-26) - Notes July 1, 2025 through June 30, 2026
Item # Notes/Comments
11 Line Item Completed FY 24-25
27 Line Item Completed FY 24-25
49 60 Line Item Completed FY 24-25
62 Line Item Completed FY 24-25
63