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09/22/2016 RESOLUTION NO. OB-16-09 RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY APPROVING AN AMENDED RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD JANUARY 1 , 2017 THROUGH JUNE 30 , 2017. WHEREAS, under AB X1 26 , enacted by the California State Legislature and signed by the Governor as part of the 2011 -2012 State budget, a new Part 1 . 85 was added to Division 24 of the California Health and Safety Code (Health and Safety Code Section 34170 et seq . , as may be amended , the "Dissolution Act") and , in accordance therewith , all redevelopment agencies in the State of California , including the Redwood City Redevelopment Agency ("Redevelopment Agency") , were dissolved as of February 1 , 2012; and WHEREAS, in compliance with the Dissolution Act, the City of Redwood City ("City") determined it would serve as the Successor Agency to the Redwood City Redevelopment Agency ("Successor Agency") effective February 1 , 2012; and WHEREAS, the Oversight Board of the Successor Agency to the Redwood City Redevelopment Agency ("Oversight Board") has been established pursuant to Section 34179 of the Dissolution Act to oversee the Successor Agency's actions in winding down the affairs of the Redevelopment Agency in accordance with the Dissolution Act; and WHEREAS, the Successor Agency prepared a draft of the Amended Recognized Obligation Payment Schedule for the period January 1 , 2017 through June 30 , 2017 for the enforceable obligations of the Successor Agency ("ROPS 16- 17B") ; and WHEREAS, Section 34177 and 34180 require the Oversight Board make a finding that the ROPS revision is necessary and approve the Amended ROPS 16-17B; and WHEREAS, the Successor Agency submitted a copy of the Amended ROPS 16- 17B to the County Administrative Officer, the County Auditor-Controller, and the State Department of Finance at the same time that the Successor Agency submitted the Amended ROPS 16-17B to the Oversight Board for approval ; and WHEREAS, the Oversight Board held a public meeting on September 22 , 2016 , and considered the Amended ROPS 16-17B following the notice required by law. NOW, THEREFORE, THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY DOES HEREBY . RESOLVE AS FOLLOWS: ATTY/RESO.00891OB APPROVING AMENDED ROPS 16-17B OB-16-09 REV. 09-15-16 VR Page 1 of 2