RESOLUTION NO. SAORA-038
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, 2025, THROUGH JUNE 30, 20 26, 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, 2025, through June 30, 2026 (ROPS 25-26) and submit ROPS 25-26 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 25-26 to the Oversight Board for approval, the Successor Agency must submit a copy of such ROPS 25-26 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 25-26 to the DOF, the Office of the State Controller, and the County Auditor-Controller no later than February 1, 20 25, and (ii) post a copy of the Oversight Board -approved ROPS 25-26 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 25-26, 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 25-26 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 25-26 to the Oversight Board for approval and, at the same time, transmit a copy of ROPS 25-26 to the DOF, the County Auditor -Controller and the County administrative officer as designated by the County.
2 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, 2025, Staff is hereby authorized and directed to transmit ROPS 25-26 to the DOF, the Office of the State Controller, and the County Auditor -Controller by February 1, 2025, 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 25-26 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 reques ting additional review by the DOF and an opportunity to meet and confer on any disputed ite ms, and making adjustments to ROPS 25-26 pursuant to the DOF’s instructions, and any such actions previously taken are hereby ratified and confirmed.
PASSED AND ADOPTED this day of January, 2025.
Daniel R. Slater
Chairperson of the Successor Agency
ATTEST:
Pamela Coleman
Clerk of the Successor Agency
to the Orange Redevelopment Agency
APPROVED AS TO FORM:
Mike Vigliotta, Agency Attorney
Successor Agency
to the Orange Redevelopment Agency
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 January, 2025 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
EXHIBIT A
SUCCESSOR AGENCY TO THE ORANGE REDEVELOPMENT AGENCY
RECOGNIZED OBLIGATION PAYMENT SCHEDULE
(July 1, 2025 – June 30, 2026)
Recognized Obligation Payment Schedule (ROPS 25-26) - Summary Filed for the July 1, 2025 through June 30, 2026 Period Successor Agency: Orange City
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) $ 1,825,335 $ 462,685 $ 2,288,020 B Bond Proceeds - - -
C Reserve Balance - - -
D Other Funds 1,825,335 462,685 2,288,020
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) $ 25,715 $ 25,715 $ 51,430
F RPTTF - - -
G Administrative RPTTF 25,715 25,715 51,430
H Current Period Enforceable Obligations (A+E) $ 1,851,050 $ 488,400 $ 2,339,450 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 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
$33,052,938 $2,339,450 $- $- $1,825,335 $- $25,715 $1,851,050 $- $- $462,685 $- $25,715 $488,400 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 $1,000 - - - - 500 $500 - - - - 500 $500
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
3,899,388 N $643,620 - - 605,335 - - $605,335 - - 38,285 - - $38,285 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 $19,050 130 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.
28,740,250 N $1,644,400 - - 1,220,000 - - $1,220,000 - - 424,400 - - $424,400 131 2008B &
2018A Bonds
Admin
Costs
06/01/
1997
09/01/2036 US Bank Fiscal
agent fees
80,400 N $7,850 - - - - 3,925 $3,925 - - - - 3,925 $3,925 132 2008B &
2018A Bonds
Admin
Costs
06/01/
1997
09/01/2036 Willdan Bonds
disclosure/
arbitrage
fees
71,400 N $4,480 - - - - 2,240 $2,240 - - - - 2,240 $2,240 Orange City
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.
A B C D E F G H
ROPS 22-23 Cash Balances
(07/01/22 - 06/30/23)
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 07/01/22)
RPTTF amount should exclude "A" period distribution
amount.
4,300 1,922,500 953,154 144,490
2 Revenue/Income (Actual 06/30/23)
RPTTF amount should tie to the ROPS 22-23 total
distribution from the County Auditor-Controller
- 5,526,033
3 Expenditures for ROPS 22-23 Enforceable Obligations
(Actual 06/30/23)
1,618 5,659,947 6/30/2023 City repaid loan $3,417,360
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)
1,922,500 - 8,958
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
No entry required
6 Ending Actual Available Cash Balance (06/30/23)
C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5)
$4,300 $- $- $951,536 $1,618
Orange City
Recognized Obligation Payment Schedule (ROPS 25-26) - Notes July 1, 2025 through June 30, 2026
Item # Notes/Comments
4 61
70 130
131
132