Laserfiche WebLink
OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE <br />FAIRFIELD REDEVELOPMENT AGENCY <br />RESOLUTION NO. 0B2012 C:�` <br />A RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY <br />TO THE FAIRFIELD REDEVELOPMENT AGENCY APPROVING MODIFIED <br />RECOGNIZED OBLIGATION PAYMENT SCHEDULES PURSUANT TO HEALTH <br />AND SAFETY CODE SECTION 34180 FOR THE SIX-MONTH FISCAL PERIOD <br />COMMENCING JANUARY 1, 2012 AND ENDING JUNE 30, 2012 AND THE SIX- <br />MONTH FISCAL PERIOD COMMENCING JULY 1, 2012 AND ENDING <br />DECEMBER 31, 2012 THAT WERE APPROVED BY THE DEPARTMENT OF <br />FINANCE, AND 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 Oversight Board for the Successor Agency (the "Oversight Board") <br />approved a ROPS for the six-month fiscal period that commences on January 1, 2012 <br />and ends on June 30, 2012, (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, (the "Second <br />ROPS") on April 9, 2012; and <br />WHEREAS, in response to feedback provided by the Department of Finance ("DOF") in <br />a letter dated April 20, 2012, the First and Second ROPS were revised by the <br />Successor Agency and approved with amendments by the Oversight Board on May 14, <br />2012; and <br />WHEREAS, the DOF reviewed the First and Second ROPS approved by the Oversight <br />Board on May 14, 2012 and directed the Successor Agency to make certain changes to <br />the First and Second ROPS in order to secure approval of the First and Second ROPS; <br />and <br />WHEREAS, the DOF approved the First and Second ROPS, which was confirmed in a <br />letter dated May 24, 2012; and <br />WHEREAS, the DOF's approval is based on the Oversight Board's approval of the final <br />modified First and Second ROPS. <br />