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Oversight Board Resolution OB2012-01
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Oversight Board Resolution OB2012-01
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Last modified
3/17/2017 10:16:41 AM
Creation date
4/10/2012 4:24:37 PM
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Resolutions
Title
Oversight Board Resolution
Resolution Number
OB2012-01
Date Adopted MM/DD/YYYY
4/9/2012
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OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE <br />FAIRFIELD REDEVELOPMENT AGENCY <br />RESOLUTION NO. OB2012 - 0 1 <br />A RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY <br />TO THE FAIRFIELD REDEVELOPMENT AGENCY APPROVING RECOGNIZED <br />OBLIGATION PAYMENT SCHEDULES PURSUANT TO HEALTH AND SAFETY <br />CODE SECTION 34180 FOR THE SIX-MONTH FISCAL PERIOD COMMENCING <br />JANUARY 1, 2012 AND ENDING JUNE 30, 2012 AND THE SIX-MONTH FISCAL <br />PERIOD COMMENCING JULY 1, 2012 AND ENDING DECEMBER 31, 2012, AND <br />TAKING CERTAIN ACTIONS IN CONNECTION THEREWITH <br />WHEREAS, Health and Safety Code Section 34177 provides that before each six- <br />month fiscal period, a successor agency to a former redevelopment agency must <br />prepare a Recognized Obligation Payment Schedule ("ROPS") for the enforceable <br />obligations of the former redevelopment agency in accordance with the requirements of <br />Section 34177 ; and <br />WHEREAS, The Successor Agency to the Fairfield Redevelopment Agency (the <br />"Successor Agency") has submitted to the Oversight Board for the Successor Agency <br />(the "Oversight Board") a ROPS for the six-month fiscal period that commences on <br />January 1, 2012 and ends on June 30, 2012, attached hereto as Exhibit A and <br />incorporated herein by reference (the "First ROPS") and a ROPS for the six-month fiscal <br />period that commences on July 1, 2012 and ends on December 31, 2012, attached <br />hereto as Exhibit B and incorporated herein by reference (the "Second ROPS"); and <br />WHEREAS, Pursuant to Health and Safety Code Section 34180(g), establishment of a <br />ROPS by the Successor Agency shall be approved by the Oversight Board ; and <br />WHEREAS, Health and Safety Code Section 34177(1)(2) provides that the First ROPS <br />must be reviewed and certified, as to its accuracy, by an external auditor designated <br />pursuant to Health and Safety Code Section 34182 and that the Oversight Board is to <br />approve the certified First ROPS; and <br />WHEREAS, Pursuant to subdivisions (I)(2)(C) and (I)(3) of Health and Safety Code <br />Section 34177, as modified by the California Supreme Court, a copy of the certified and <br />approved First ROPS must be submitted to the California Department of Finance <br />("DOF") by April 15, 2012; and <br />
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