SUCCESSOR AGENCY
RESOLUTION NO. RSA 23-31
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE MURRIETA
REDEVELOPMENT AGENCY APPROVING A RECOGNIZED
OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD FROM JULY
1, 2024 THROUGH JUNE 30, 2025, APPROVING THE SUCCESSOR
AGENCY’S PROPOSED ADMINISTRATIVE BUDGET FOR FISCAL
YEAR 2024/25, AND AUTHORIZING POSTING AND TRANSMITTAL
THEREOF
WHEREAS, the Murrieta Redevelopment Agency (the “ Former RDA ”) was a public body, corporate and politic, duly created, established, and authorized to transact business and exercise its powers under and pursuant to the provisions of the Community Redevelopment Law (Part 1 of Division 24 of the California Health and Safety Code ), and the powers of the Former RDA included the power to issue bonds for any of its corporate purposes; and
WHEREAS, on June 28, 2011, the California Legislature adopted Assembly Bill s x1 26 ( the “Dissolution Act”) and x1 27 (the “Opt-in Bill”); and
WHEREAS, the California Supreme Court subsequently upheld the provisions of the Dissolution Act and invalidated the Opt -in Bill, resulting in the dissolution of the Former RDA as of February 1, 2012; and
WHEREAS, the redevelopment powers, assets , and obligations of the Former RDA were transferred on February 1, 2012 , to the Successor Agency to the Murrieta Redevelopment Agency (“Successor Agency”); and
WHEREAS, on June 27, 2012, A ssembly Bill 1484 was adopted as a trailer bill in connection with the Fiscal Year 2012-13 California Budget, and Senate Bill 107 was adopted on September 22, 2015, both to modify certain provisions of the Dissolution Act; and
WHEREAS, among the duties of successor agencies under the Dissolution Act as amended is the preparation of an annual Recognized Obligation Payment Schedule (ROPS), per H ealth and Safety Code section 34177(l), that includes the ensuing fiscal year for consideration by a consolidated oversight board and the California Department of Finance (DOF) for purposes of administering the wind-down of financial obligations of the former redevelopment agency; and
WHEREAS, section 34177(l) of the Dissolution Act further requires that the proposed ROPS be transmitted to the oversight board, after which time the oversight board may approve the ROPS and the Successor Agency’s transmittal of the adopted ROPS to DOF, the County Auditor - Controller, and the State Controller’s Office for their consideration; and
Resolution No. RSA 23-31
WHEREAS, the Riverside County wide Consolidated Oversight Board ("Oversight Board"), formed July 1, 2018, has jurisdiction over the Successor Agency; and
WHEREAS, the Successor Agency’s proposed ROPS covering the period from July 1, 2024, through June 30, 2025 (“ROPS 24/25”), attached hereto as Exhibit “A,” has been prepared and is consistent with the provisions of the Dissolution Act and in the format made available by DOF; and
WHEREAS, section 34177(j) of the Dissolution Act requires the Successor Agency to prepare a proposed administrative budget and submit it to the Oversight Board for approval; and
WHEREAS, the Successor Agency prepared the Fiscal Year 2024/25 Administrative Budget in accordance with the Dissolution Act, attached hereto as Exhibit “B” (the “Administrative Budget”); and
WHEREAS, the Oversight Board will review the ROPS 24/25 and Administrative Budget on January 18, 2024; and
WHEREAS, the Successor Agency desires to approve the ROPS 24/25 and the Fiscal Year 2024/25 Administrative Budget and transmit them to various parties as required by the Dissolution Act.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MURRIETA, CALIFORNIA DOES HEREBY RESOLVE AS FOLLOWS: by the Successor Agency to the Murrieta Redevelopment Agency, as follows:
Section 1. The above recitals are true and correct and are a substantive part of this Resolution.
Section 2. The proposed ROPS 24/25 covering the period of July 1, 2024, to June 30, 2025, substantially in the form attached hereto as Exhibit “A ,” is approved and adopted. Successor Agency staff is hereby authorized and directed to submit a copy to the Oversight Board for approval. The Successor Agency accepts administrative revisions made to the ROPS 24/25 in order to enable the Successor Agency to submit the ROPS 24/25 to DOF by the deadline of February 1, 2024.
Section 3. The Fiscal Year 2024/25 Administrative Budget for the period July 1, 2024 to June 30, 2025, submitted herewith as Exhibit “B,” is hereby approved.
Section 4. The officers of the Successor Agency are hereby authorized and directed, jointly and severally, to do any and all things which they may deem necessary or advisable to effectuate this Resolution, including requesting additional review by the DOF and an opportunity to meet and confer on any disputed items, and any such actions previously taken by such officers and staff are hereby ratified and confirmed. Specifically, the officers of the Successor Agency are hereby authorized and directed to post a copy of the ROPS 24/25 on the City’s website and transmit a copy of the ROPS 24/25 to the Riverside Countywide Resolution No. RSA 23-31
Consolidated Oversight Board, the Riverside County Auditor -Controller, the State Controller’s Office, and the State of California Department of Finance.
PASSED AND ADOPTED this 5th day of December 2023 by the Successor Agency to the Murrieta Redevelopment Agency.
_____________________________________
Lisa DeForest, Chair
ATTEST:
_________________________________
Cristal McDonald, Secretary
APPROVED AS TO FORM:
_________________________________
Tiffany Israel, Agency Counsel
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE )§
CITY OF MURRIETA )
I, Cristal McDonald, City Clerk of the City of Murrieta, California, do hereby certify that the foregoing Successor Agency Resolution No. RSA 23-31was duly passed and adopted by the City Council of the City of Murrieta at the regular meeting thereof, held on the 5th day of December 2023 and was signed by the Mayor of the said City, and that the same was passed and adopted by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Cristal McDonald, City Clerk
A B C D E F G H I J K L M N O P Q R S T U V W X Y
Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Notes Bond Proceeds Reserve Balance Other Funds RPTTF Admin RPTTF Notes 39,225,709.00$ 2,863,181$ -$ -$ -$ 2,282,409$ 46,800$ 2,329,209$ -$ -$ -$ 533,972$ -$ 533,972$ 9 City administration Admin Costs 7/1/2015 6/30/2038 City of Murrieta Payroll & Operating costs Combined Project Area 700,000 N 46,800$ 46,800$ 46,800$ -$ -$ 26 Retiree Medical Trust
Unfunded Liabilities
6/1/2009 6/30/2037 CalPERS medical Contribution towards unfunded post employment retirement health
Combined Project Area
- N -$ -$ -$ 57 2017 Tax Allocation Refunding Bonds,
Series A
Refunding Bonds Issued
After 6/27/12
10/5/2017 8/1/2035 Union Bank Debt Service Payments for Refunding of 2002, 2005, and 2007 Bonds
Combined Project Area
12,312,209 N 1,177,881$ 987,328$ 987,328$ 190,553$ 190,553$ 58 2017 Tax Allocation Refunding Bonds,
Series B
Refunding Bonds Issued
After 6/27/12
10/5/2017 8/1/2037 Union Bank Debt Service Payments for Refunding of 2002, 2005, and 2007 Bonds
Combined Project Area
26,089,250 N 1,629,625$ 1,286,206$ 1,286,206$ 343,419$ 343,419$ 59 2017 Bonds Fiscal Agent Fees and
Continuing Disclosure Costs
Fees 10/5/2017 8/1/2037 Union Bank Fiscal agent fees, annual continuing disclosure costs
Combined Project Area
124,250 N 8,875$ 8,875$ 8,875$ -$ -$ Murrieta Recognized Obligation Payment Schedule (ROPS 24-25) - ROPS Detail July 1,2024 through June 30, 2025
(Report Amounts in Whole Dollars)
Item # Project Name/Debt Obligation Obligation Type
Contract/Agreement
Execution Date
Contract/Agreement
Termination Date Payee Description/Project Scope Project Area Total Outstanding
Debt or Obligation Retired
ROPS 24-25
Total
24-25A (July - December)
24-25A
Total
24-25B (January - June)
24-25B
Total
Fund Sources Fund Sources
Expense Category Responsibility Budget
Amount
Personnel Costs
City Manager Department • Provide direction to other staff and consultants as needed $ 4,000 City Attorney Department • Provide general legal services as needed • Review staff reports and resolutions 3,000 Finance Department
• Process payment of enforceable obligations
• Maintain documentation of Agency records
• Coordinate with consultant to answer questions and provide documentation as requested by Oversight Board, County
Auditor-Controller, and Department of Finance
• Answer questions and provide documentation as requested by consultant to prepare the PPA
10,000
Successor Agency Staff • Administration and implementation of Agency wind-down 4,700 Total Personnel Costs $ 21,700
Services
Consultants
• Prepare ROPS, PPA, staff reports, and resolutions
• Coordinate with and answer questions for Oversight Board, County Auditor-Controller, and Department of Finance
• Attend Successor Agency and Oversight Board meetings • Monitor and project cash flow to ensure sufficient revenues for obligations and to inform Agency staff of expected
revenues
$ 15,000
Financial Services • Audits and other financial services as needed 10,100 Total Services Costs $ 25,100
Total Budget
Total Budget Costs $ 46,800
EXHIBIT B
Successor Agency to the Murrieta Redevelopment Agency
Administrative Budget
July 1, 2024 – June 30, 2025