SUCCESSOR AGENCY
RESOLUTION NO. RSA 24-33
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE MURRIETA
REDEVELOPMENT AGENCY APPROVING A RECOGNIZED
OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD FROM
JULY 1, 2025 THROUGH JUNE 30, 2026, APPROVING THE
SUCCESSOR AGENCY’S PROPOSED ADMINISTRATIVE BUDGET
FOR FISCAL YEAR 202 5/26, 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 Bills 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, Assembly 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 Health 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 24-33
WHEREAS, the Riverside Countywide 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, 2025, through June 30, 2026 (“ROPS 2025/26”), 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 202 5/26 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 2025/2 6 and Administrative Budget on January 16, 2025; and
WHEREAS, the Successor Agency desires to approve the ROPS 2025 /26 and the Fiscal Year 202 5/26 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 2025/2 6 covering the period of July 1, 2025, to June 30, 2026, 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 2025/26 in order to enable the Successor Agency to submit the ROPS 2025/26 to DOF by the deadline of February 1, 2025.
Section 3. The Fiscal Year 2025/26 Administrative Budget for the period July 1, 2025 to June 30, 2026, 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 2025/26 on the City’s website and transmit a copy of the ROPS 2025/26 to the Riverside Countywide Resolution No. RSA 24-33
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 3rd day of December 2024 by the Successor Agency to the Murrieta Redevelopment Agency.
Lori Stone, 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 24-33 was duly passed and adopted by the City Council of the City of Murrieta at the regular meeting thereof, held on the 3 rd day of December 2024, 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
Successor Agency: Murrieta
County: Riverside
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): 2,356,547$ 499,347$ 2,855,894$ F RPTTF 2,307,847$ 499,347$ 2,807,194$
G Administrative RPTTF 48,700$ -$ 48,700$
H Current Period Enforceable Obligations (A+E): 2,356,547$ 499,347$ 2,855,894$ Certification of Oversight Board Chairman: Signature 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. Signature Title
Recognized Obligation Payment Scehdule (ROPS 25-26) - Summary Filed for the July 1, 2025 through June 30, 2026 Period
EXHIBIT A
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 ProceedsReserve Balance Other Funds RPTTF Admin RPTTF Notes Bond ProceedsReserve Balance Other Funds RPTTF Admin RPTTF Notes 36,359,328$ 2,855,894$ -$ -$ -$ 2,307,847$ 48,700$ 2,356,547$ -$ -$ -$ 499,347$ -$ 499,347$ 9 City Administration Admin Costs 7/1/2015 6/30/2038 City of Murrieta Payroll & Operating costs Combined Project Area 650,000 N 48,700$ 48,700$ 48,700$ -$ -$ 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
11,134,328 N 1,175,731$ 1,005,553$ 1,005,553$ 170,178$ 170,178$ 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
24,459,625 N 1,622,588$ 1,293,419$ 1,293,419$ 329,169$ 329,169$ 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
115,375 N 8,875$ 8,875$ 8,875$ -$ -$ Murrieta Recognized Obligation Payment Schedule (ROPS 25-26) - ROPS Detail July 1,2025 through June 30, 2026
(Report Amounts in Whole Dollars)
Item # Project Name/Debt Obligation Obligation Type
Contract/Agreem
ent
Execution Date
Contract/Agreem
ent
Termination Date Payee Description/Project Scope Project Area Total
Outstanding
Debt or
Obligation Retired
ROPS 25-26
Total
25-26A (July - December)
25-26A
Total
25-26B (January - June)
25-26B
Total
Fund Sources Fund Sources
A B C D E F G H
Reserve Balance Other Funds RPTTF
Bonds issued on or
before 12/31/10
Bonds issued on or
after 01/01/11
Prior ROPS RPTTF
and Reserve
Balances retained for
future period(s)
Rent,
Grants,
Interest, etc.
Non-Admin
and
Admin
1 Beginning Available Cash Balance (Actual 07/01/22)
RPTTF amount should exclude "A" period distribution amount 556,764 39,931
G: Retain 13,685 19-20 PPA for 22-23, $13,500 20-
21 PPA for 23-24, and 12,746 21-22 PPA for 24-25
2 Revenue/Income (Actual 06/30/23)
RPTTF amount should tie to the ROPS 22-23 total
distribution from the County Auditor-Controller 23,487 4,135,136 3 Expenditures for ROPS 22-23 Enforceable Obligations
(Actual 06/30/23)
4,093,625
4 Retention of Available Cash Balance (Actual 06/30/23) RPTTF amount retained should only include the amounts
distributed as reserve for future period(s)
26,246
G: Retain $13,500 20-21 PPA for 23-24 and
12,746 21-22 PPA for 24-25
5 ROPS 22-23 RPTTF Prior Period Adjustment
RPTTF amount should tie to the Agency's ROPS 22-23 PPA
form submitted to the CAC
55,196
6 Ending Actual Available Cash Balance (06/30/23)
C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5)
0$ 0$ 0$ 580,251$ 0$ No entry required
Murrieta Recognized Obligation Payment Schedule (ROPS 25-26) - Report of Cash Balances July 1, 2022 through June 30, 2023
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177 (l), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form, see Cash Balance Tips Sheet.
ROPS 22-23 Cash Balances
(07/01/22 - 06/30/23)
Fund Sources
Comments
Bond Proceeds
Item # Notes/Comments
Murrieta Recognized Obligation Payment Schedule (ROPS 25-26) - Notes July 1, 2025 through June 30, 2026 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 6,600 Total Personnel Costs $ 23,600
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 $ 48,700
EXHIBIT B
Successor Agency to the Murrieta Redevelopment Agency
Administrative Budget
July 1, 2025 – June 30, 2026