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OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY <br /> TO THE FAIRFIELD REDEVELOPMENT AGENCY <br /> RESOLUTION NO. OB2017-01 <br /> RESOLUTION OF THE OVERSIGHT BOARD FOR THE <br /> SUCCESSOR AGENCY TO THE FAIRFIELD REDEVELOPMENT <br /> AGENCY APPROVING A RECOGNIZED OBLIGATION <br /> PAYMENT SCHEDULE FOR THE ONE-YEAR FISCAL PERIOD <br /> FROM JULY 1, 2017 THROUGH JUNE 30, 2018, APPROVING A <br /> PROPOSED ADMINISTRATIVE BUDGET AND TAKING <br /> CERTAIN RELATED ACTIONS <br /> WHEREAS, pursuant to Health and Safety Code Section 34177(1), the Successor <br /> Agency to the Fairfield Redevelopment Agency (the "Successor Agency") must prepare <br /> a proposed Recognized Obligation Payment Schedule ("ROPS") before each one-year <br /> fiscal period (commencing July 1) and submit the proposed ROPS to the Oversight <br /> Board for the Successor Agency (the "Oversight Board") for approval; and <br /> WHEREAS, Pursuant to Health and Safety Code Section 34177(I)(2)(C) and (o), the <br /> Successor Agency must (1) submit the Oversight Board-approved ROPS for the one <br /> year fiscal period from July 1, 2017 through June 30, 2018 ("ROPS 17-18"), to the <br /> Department of Finance (DOF), the Office of the State Controller, and the County <br /> Auditor-Controller no later than February 1, 2017; and (2) post a copy of the Oversight <br /> Board-approved ROPS 17-18 on the Successor Agency's website; and <br /> WHEREAS, Pursuant to Health and Safety Code Section 34177(j), the Successor <br /> Agency to the Fairfield Redevelopment Agency (the "Successor Agency") must prepare <br /> a proposed administrative budget for each fiscal year and submit each proposed <br /> administrative budget to the Oversight Board for the Successor Agency (the "Oversight <br /> Board") for approval; and <br /> WHEREAS, There has been presented to this Board for approval a proposed <br /> administrative budget for the Successor Agency for the fiscal year from July 1, 2017 <br /> through June 30, 2018 ("Administrative Budget 17-18"). <br /> NOW, THEREFORE, THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY <br /> TO THE FAIRFIELD REDEVELOPMENT AGENCY, HEREBY RESOLVES: <br /> Section 1. The above recitals are true and correct and are a substantive part of this <br /> Resolution. <br /> Section 2. The Oversight Board hereby approves proposed ROPS 17-18, <br /> substantially in the form attached hereto as Exhibit A. Staff of the Successor Agency is <br /> hereby authorized and directed to submit a copy of Oversight Board-approved ROPS <br /> 17-18 to the DOF, the Office of the State Controller, and the County Auditor-Controller <br />