RESOLUTION NO. SAORA-037
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, 20 24
THROUGH JUNE 30, 2025, 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, 2024 through June 30, 2025 (ROPS 24-25) and submit ROPS 24-25 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 24-25 to the Oversight Board for approval, the Successor Agency must submit a copy of such ROPS 24- 25 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 24-25 to the DOF, the Office of the State Controller, and the County Auditor-Controller no later than February 1, 2024, and (ii) post a copy of the Oversight Board- approved ROPS 24 -25 on the Successor Agency’s website;
NOW, THEREFORE, BE IT RESOLVED that 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 24-25, 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 24- 25 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 24- 25 to the Oversight Board for approval and, at the same time, transmit a copy of ROPS 24- 25 to the DOF, the County Auditor -Controller and the County administrative officer as designat ed by the County.
RESO NO. SAORA-037 2
Section 4. Staff is hereby authorized and directed to submit a copy of Oversight Board- approved ROPS 24- 25 to the DOF, the Office of the State Controller, and the County Auditor - Controller. If the Oversight Board has not approved ROPS 24- 25 by February 1, 2024, Staff is hereby authorized and directed to transmit ROPS 24-25 to the DOF, the Office of the Stat e Controller, and the County Auditor -Controller by February 1, 2024, 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.
Section 5. Staff is hereby authorized and directed to post a copy of the Oversight Board-approved ROPS 2 4-25 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, includi ng but not limited to requesting additional review by the DOF and an opportunity to meet and confer on any disputed ite ms, and making adjustments to ROPS 24-25 pursuant to the DOF’s instructions, and any such actions previously taken are hereby ratified and confirmed.
PASSED AND ADOPTED this day of , 2024.
Daniel R. Slater, Chairperson
ATTEST:
Pamela Coleman, Agency Clerk
APPROVED AS TO FORM:
Mike Vigliotta, Agency Attorney
RESO NO. SAORA-037 3
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 , 2024 by the following vote:
AYES: BOARD MEMBERS:
NOES: BOARD MEMBERS:
ABSENT: BOARD MEMBERS:
ABSTAIN: BOARD MEMBERS:
Pamela Coleman, Agency Clerk
EXHIBIT A
SUCCESSOR AGENCY TO THE ORANGE REDEVELOPMENT AGENCY
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
(July 1, 2024 – June 30, 2025)
Recognized Obligation Payment Schedule (ROPS 24-25) - Summary Filed for the July 1, 2024 through June 30, 2025 Period Successor Agency: Orange City
County: Orange
Current Period Requested Funding for Enforceable
Obligations (ROPS Detail)
24-25A Total
(July -
December)
24-25B Total
(January -
June)
ROPS 24-25
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) $ 1,561,300 $ 802,855 $ 2,364,155 F RPTTF 1,533,800 775,355 2,309,155
G Administrative RPTTF 27,500 27,500 55,000
H Current Period Enforceable Obligations (A+E) $ 1,561,300 $ 802,855 $ 2,364,155 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
Orange City
Recognized Obligation Payment Schedule (ROPS 24-25) - ROPS Detail July 1, 2024 through June 30, 2025
A B C D E F G H I J K O P Q U V W
Item
# Project Name Obligation
Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired
ROPS
24-25
Total
ROPS 24-25A (Jul -
Dec)
24-25A
Total
ROPS 24-25B
(Jan - Jun)
24-25B
Total Fund Sources Fund Sources
RPTTF Admin
RPTTF RPTTF Admin
RPTTF
$23,088,300 $2,364,155 $1,533,800 $27,500 $1,561,300 $775,355 $27,500 $802,855 4 2008 A&B
and 2014A
Bonds
Admin
Costs
05/22/
2012
09/01/2037 Richards,Watson
& Gershon
Bond counsel Orange
Merged
11,500 N $2,000 - 1,000 $1,000 - 1,000 $1,000
61 2008 Tax
Allocation
Bonds Series
B
Bonds
Issued
On or
Before
12/31/10
05/01/
2008
05/01/2038 US Bank To fund Orange Merged & Amended Orange Merged
2,300,000 N $641,655 328,800 - $328,800 312,855 - $312,855 70 Successor
Agency
Administrative
Costs
Admin
Costs
08/16/
1983
07/05/2039 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
12/04/
2014
09/01/2023 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
- Y $- - - $- - - $-
130 2018 Tax
Allocation
Refunding
Bonds Series
A
Bonds
Issued
After 12/
31/10
07/12/
2018
09/01/2036 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.
20,375,000 N $1,667,500 1,205,000 - $1,205,000 462,500 - $462,500 131 2008B &
2018A Bonds
Admin
Costs
06/01/
1997
09/01/2036 US Bank Fiscal agent fees 80,400 N $6,500 - 3,250 $3,250 - 3,250 $3,250 132 2008B &
2018A Bonds
Admin
Costs
06/01/
1997
09/01/2036 Willdan Bonds disclosure/arbitrage fees 71,400 N $8,400 - 4,200 $4,200 - 4,200 $4,200 Orange City
Recognized Obligation Payment Schedule (ROPS 24-25) - Report of Cash Balances July 1, 2021 through June 30, 2022
(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.
A B C D E F G H
ROPS 21-22 Cash Balances
(07/01/21 - 06/30/22)
Fund Sources
Comments
Bond Proceeds 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 07/01/21)
RPTTF amount should exclude "A" period distribution
amount.
2,494 4 631,420 4,916 - E1: ROPS 18-19 PPA $495,888; 19-20 PPA $135,532
2 Revenue/Income (Actual 06/30/22)
RPTTF amount should tie to the ROPS 21-22 total
distribution from the County Auditor-Controller
4 12 91,718 5,152,444 G2: ROPS 21-22 approved for distribution 3 Expenditures for ROPS 21-22 Enforceable Obligations
(Actual 06/30/22)
2 16 495,888 33,871 5,041,658 G3: E3 + G3 + G4 = $5,640,045 actual expense reported in PPA ; F3: Interest
received $18,376 + Loan Repayment $73,342
4 Retention of Available Cash Balance (Actual 06/30/22) RPTTF amount retained should only include the amounts
distributed as reserve for future period(s)
143,818 8,286 102,500 G4: 2014A (3655000/2) 21-22B - (3480000/ 2)20-21 B ; 2008B (465000/2) 21-22B -
(435000/2) 20-21B
5 ROPS 21-22 RPTTF Prior Period Adjustment
RPTTF amount should tie to the Agency's ROPS 21-22 PPA
form submitted to the CAC
No entry required 8,286 ROPS 21-22 PPA
6 Ending Actual Available Cash Balance (06/30/22)
C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5)
$2,496 $- $(8,286) $54,477 $-
Orange City
Recognized Obligation Payment Schedule (ROPS 24-25) - Notes July 1, 2024 through June 30, 2025
Item # Notes/Comments
4 61
70 128
130
131
132