RESO NO. SAORA-036
RESOLUTION NO. SAORA- 036
A RESOLUTION OF THE GOVERNING BOARD OF THE SUCCESSOR
AGENCY TO THE ORANGE REDEVELOPMENT AGENCY APPROVING
A RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE
FISCAL PERIOD FROM JULY 1, 2023 THROUGH JUNE 30, 2024,
PURSUANT TO HEALTH AND SAFETY CODE SECTION 34177 AND
TAKING CERTAIN RELATED ACTIONS
WHEREAS, pursuant to Health and Safety Code Section 34177(o), the Successor Agency to the Orange Redevelopment Agency (the Successor Agency) must prepare a Recognized Obligation Payment Schedule listing the anticipated payments for enforceable obligations to be made by the Successor Agency during the fiscal period from July 1, 2023 through June 30, 2024 (ROPS 23-24) and submit ROPS 23-24 to the oversight board of the Successor Agency (the Oversight Board) for approval; and
WHEREAS, pursuant to Health and Safety Code Section 34177(1)(2)(B), at the same time that the Successor Agency submits ROPS 23-24 to the Oversight Board for approval, the Successor Agency must submit a copy of such ROPS 23-24 to the State Department of Finance (the DOF), the County administrative officer, and the County Auditor-Controller; and WHEREAS, pursuant to Health and Safety Code Section 34177(1)(2) and Section 34177 (o)(1), the Successor Agency must: (i) submit the Oversight Board-approved ROPS 23-24 to the DOF, the Office of the State Controller, and the County Auditor-Controller no later than February 1, 2023, and (ii) post a copy of the Oversight Board-approved ROPS 23-24 on the Successor Agency’s website;
NOW THEREFORE, the Governing Board of the Successor Agency to the Orange Redevelopment Agency does hereby find, determine, resolve, and order as follows:
Section 1. The above recitals are true and correct and are a substantive part of this Resolution.
Section 2. ROPS 23-24, substantially in the form attached hereto as Exhibit A, is hereby approved. The Executive Director of the Successor Agency, in consultation with the Successor Agency’s legal counsel, may modify ROPS 23-24 as the Executive Director or the Successor Agency’s legal counsel deems necessary or advisable.
Section 3. Staff is hereby authorized and directed to submit a copy of ROPS 23-24 to the Oversight Board for approval and, at the same time, transmit a copy of ROPS 23-24 to the DOF, the County Auditor-Controller and the County administrative officer as designated by the County.
Section 4. Staff is hereby authorized and directed to submit a copy of Oversight Board- approved ROPS 23-24 to the DOF, the Office of the State Controller, and the County Auditor- Controller. If the Oversight Board has not approved ROPS 23-24 by February 1, 2023, Staff is hereby authorized and directed to transmit ROPS 23-24 to the DOF, the Office of the State Controller, and the County Auditor-Controller by February 1, 2023, with a written notification regarding the status of the Oversight Board’s review. Written notice and information regarding the action of the Oversight Board shall be provided to the DOF by electronic means and in a manner of DOF’s choosing.
RESO NO. SAORA-036
Section 5. Staff is hereby authorized and directed to post a copy of the Oversight Board-approved ROPS 23-24 on the Successor Agency’s Internet website (being a page on the Internet website of the City of Orange).
Section 6. The officers and other Staff members 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 but not limited to requesting additional review by the DOF and an opportunity to meet and confer on any disputed items, and making adjustments to ROPS 23-24 pursuant to the DOF’s instructions, and any such actions previously taken are hereby ratified and confirmed.
PASSED AND ADOPTED this day of December, 2022. ______________________________________________
Mark A. Murphy
Chairperson of the Successor Agency
ATTEST:
________________________________________
Pamela Coleman
Clerk of the Successor Agency
to the Orange Redevelopment Agency
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF ORANGE )
I hereby certify that the foregoing Resolution was duly and regularly adopted by Governing Board of the Successor Agency to the Orange Redevelopment Agency at a regular meeting thereof held on the ____ day of December, 2022, by the following vote:
AYES: BOARD MEMBERS:
NOES: BOARD MEMBERS:
ABSENT: BOARD MEMBERS:
ABSTAIN: BOARD MEMBERS:
______________________________________________
Pamela Coleman
Clerk of the Successor Agency
to the Orange Redevelopment Agency
RESO NO. SAORA-036
EXHIBIT A
SUCCESSOR AGENCY TO THE ORANGE REDEVELOPMENT AGENCY
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
(July 1, 2023 – June 30, 2024)
23-24A Total
(July - December)
23-24B Total
(January - June)
ROPS 23-24
Total
-$ -$ -$
- - -
- - -
- - -
2,832,956$ 1,188,050$ 4,021,006$
2,803,706 1,158,800 3,962,506
29,250 29,250 58,500
2,832,956$ 1,188,050$ 4,021,006$
Name Title
Signature Date
Certification of Oversight Board Chairman:
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 aboved named successor agency.
H Current Period Enforceable Obligations (A+E)
G Administrative RPTTF
F RPTTF
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) D Other Funds
C Reserve Balance
B Bond Proceeds
A Enforceable Obligations Funded as Follows (B+C+D)
Current Period Requested Funding for Enforceable
Obligations (ROPS Detail)
Recognized Obligation Payment Schedule (ROPS 23-24) - Summary Filed for the July 1, 2023 through June 30, 2024 Period Successor Agency: Orange City
County: Orange
A B C D E F G H I J K Q W
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF
Admin
RPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF
Admin
RPTTF
4,021,006$ -$ -$ -$ 2,803,706$ 29,250$ 2,832,956$ -$ -$ -$ 1,158,800$ 29,250$ 1,188,050$ 2 2008 A&B and 2014A
Bonds
Fees 6/1/1997 9/1/2037 US Bank Fiscal agent fees Orange Merged
174,165 Y -$ -$ -$
3 2008 A&B and 2014A
Bonds
Fees 6/1/1997 9/1/2037 Willdan Bond disclosure fee Orange Merged
172,450 Y -$ -$ -$
4 2008 A&B and 2014A
Bonds
Fees 5/22/2012 9/1/2037 Richards,W
atson &
Gershon
Bond counsel Orange
Merged
11,500 N 2,000$ 1,000 1,000$ 1,000 1,000$
8 Orange City Mills Business
Incentive
Agreements
9/10/1996 1/20/2019 Mills Limited
Partnership
Promissory note
based on
performance
Orange
Merged
0 Y -$ -$ -$
49 Retirement Cost Obligation Unfunded
Liabilities
8/16/1983 7/5/2039 Cal PERS Future retirement cost
obligation
Orange
Merged
Y -$ -$ -$
60 2008 Tax Allocation Bonds
Series A
Bonds Issued
On or Before
12/31/10
5/1/2008 5/1/2038 US Bank To fund Orange
Merged & Amended
Orange
Merged
0 Y -$ -$ -$
61 2008 Tax Allocation Bonds
Series B
Bonds Issued
On or Before
12/31/10
5/1/2008 5/1/2038 US Bank To fund Orange
Merged & Amended
Orange
Merged
4,535,269 N 658,881$ 330,081 330,081$ 328,800 328,800$ 70 Successor Agency
Administrative Costs
Admin Costs 8/16/1983 7/5/2039 various Costs for maintaining Successor Agency
operations
Orange
Merged
250,000 N 38,100$ 19,050 19,050$ 19,050 19,050$
128 2014 Tax Allocation
Refunding Bonds Series A
Bonds Issued
After
12/31/10
12/4/2014 9/1/2023 US Bank 2014 Bond Refunding
of the 1997 Tax
Allocation Parity
Bonds, Series A and
the 2003 Tax
Allocation Refunding
Bonds, Series A.
DOF approved
Resolution No. OB-
0055 that authorized
the bond refunding
and issuance.
Orange
Merged
11,821,750 N 2,018,625$ 2,018,625 2,018,625$ 0 -$
130 2018 Tax Allocation
Refunding Bonds Series A
Bonds Issued
After
12/31/10
7/12/2018 9/1/2036 US Bank 2018 Bond Refunding
of the 2008 Tax
Allocation Bonds,
Series A. DOF
approved Resolution
No. OB-0078 that
authorized the bond
refunding and
issuance.
Orange
Merged
30,025,250 N 1,285,000$ 455,000 455,000$ 830,000 830,000$ 131 2008B, 2014A, & 2018A
Bonds
Fees 6/1/1997 9/1/2036 US Bank Fiscal agent fees Orange Merged
80,400 N 8,300$ 4,150 4,150$ 4,150 4,150$
132 2008B, 2014A, & 2018A
Bonds
Fees 6/1/1997 9/1/2036 Willdan Bonds
disclosure/arbitrage
fees
Orange
Merged
71,400 N 10,100$ 5,050 5,050$ 5,050 5,050$
Fund Sources Fund Sources
L M N O P R S T U V Orange City
Recognized Obligation Payment Schedule (ROPS 23-24) - ROPS Detail July 1, 2023 through June 30, 2024
Payee Description
Project
Area
Total
Outstanding
Debt or
Obligation Retired
Item
# Project Name
Obligation
Type
Agreement
Execution
Date
Agreement
Terminatio
n Date
ROPS
23-24
Total
ROPS 23-24A (Jul - Dec)
23-24A Total
ROPS 23-24B (Jan - Jun)
23-24B Total
N:\Accounting\ROPS\Annual ROPS\FY 23-24 ROPS\Orange City_ROPS 23-24Orange City_ROPS 23-24ROPS Detail
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 07/01/20)
RPTTF amount should exclude "A" period distribution amount 2,517 129 811,986 11,363 0
E1:PPA 17-18 $180,566
PPA 18-19 $495,888
PPA 19-20 $135,532
2 Revenue/Income (Actual 06/30/21)
RPTTF amount should tie to the ROPS 17-18 total distribution from the County Auditor-Controller
5 30 0 98,892 5,451,423
G2: ROPS 20-21B RPTTF $2,820,728 + ROPS 20-
21A RPTTF $2,630,695 (#920.10100 beg bal)=
$5,451,423
3 Expenditures for ROPS 20-21 Enforceable Obligations
(Actual 06/30/21)
28 155 180,566 114,234 5,352,719
E3+G3+ G4 [ 50% of 2008B & 2014A $12,500
+85,000 ] = $5,630,785 = PPA Actual Exp
4 Retention of Available Cash Balance (Actual 06/30/21) RPTTF amount retained should only include the amounts distributed as reserve for future period(s)
0 0 631,420 1,204 97,500
G4: 50% 2008B $12,500
(435,000 20-21B - 410,000 20-21A) / 2 +
50% 2014A $85,000 (3,480,000 20-210B -
3,310,000 20-21A) / 2 =85,000
5 ROPS 20-21 RPTTF Prior Period Adjustment
RPTTF amount should tie to the Agency's ROPS 20-21 PPA form submitted to the CAC
1,204 ROPS 20-21 PPA
6 Ending Actual Available Cash Balance (06/30/21)
C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5)
2,494$ 4$ 0$ (5,183)$ 0$
No entry required
Orange City Recognized Obligation Payment Schedule (ROPS 23-24) - Report of Cash Balances July 1, 2020 through June 30, 2021
(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, seeCash Balance Tips Sheet.
ROPS 20-21 Cash Balances
(07/01/20 - 06/30/21)
Fund Sources
Bond Proceeds
Comments
N:\Accounting\ROPS\Annual ROPS\FY 23-24 ROPS\Orange City_ROPS 23-24Orange City_ROPS 23-24Cash Balances