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1/28/2016 <br /> RESOLUTION NO. OB-16-03 <br /> RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR <br /> AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY <br /> APPROVING A RECOGNIZED OBLIGATION PAYMENT SCHEDULE <br /> FOR THE PERIOD JULY 1 , 2016 THROUGH JUNE 30, 2017. <br /> WHEREAS, under AB X1 26 , enacted by the California State Legislature and <br /> signed by the Governor as part of the 2011 -2012 State budget, a new Part 1 . 85 was <br /> added to Division 24 of the California Health and Safety Code (Health and Safety Code <br /> Section 34170 et seq . , as may be amended , the "Dissolution Act") and , in accordance <br /> therewith , all redevelopment agencies in the State of California , including the Redwood <br /> City Redevelopment Agency ("Redevelopment Agency") , were dissolved as of February <br /> 1 , 2012 ; and <br /> WHEREAS, in compliance with the Dissolution Act, the City of Redwood City <br /> ("City") determined it would serve as the Successor Agency to the Redwood City <br /> Redevelopment Agency ("Successor Agency") effective February 1 , 2012; and <br /> WHEREAS, the Oversight Board of the Successor Agency to the Redwood City <br /> Redevelopment Agency ("Oversight Board") has been established pursuant to Section <br /> 34179 of the Dissolution Act to oversee the Successor Agency's actions in winding <br /> down the affairs of the Redevelopment Agency in accordance with the Dissolution Act; <br /> and <br /> WHEREAS, the Successor Agency prepared a draft of the Recognized <br /> Obligation Payment Schedule for the period July 1 , 2016 through June 30 , 2017 for the <br /> enforceable obligations of the Successor Agency ("ROPS 16- 17") ; and <br /> WHEREAS, Section 34177 and 34180 require the approval of the ROPS 16- 17 <br /> by the Oversight Board; and <br /> WHEREAS, the Successor Agency submitted a copy of the ROPS 16-17 to the <br /> County Administrative Officer, the County Auditor-Controller, and the State Department <br /> of Finance at the same time that the Successor Agency submitted the ROPS 16-17 to <br /> the Oversight Board for approval; and <br /> WHEREAS, the Oversight Board held a public meeting on January 28 , 2016, and <br /> considered the ROPS 16- 17 following the notice required by law. <br /> Page 1of3 <br /> ATTY/RES0.0010/OB RESO ROPS 16-17 OB RESO 16-03 <br /> REV: 01-22-16 VR <br />