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04/09/2012 <br /> ORIGINAL <br /> SUCCESSOR AGENCY RESOLUTION NO. SA 12-OS <br /> A RESOLUTION OF THE CITY COUNCII OF THE CITY OF REDWOOD <br /> CITY AS THE SUCCESSOR AGENCY TO THE REDWOOD CITY <br /> REDEVELOPMENT AGENCY APPROVING THE AMENDED INITIAL <br /> RECOGNIZED OBLIGATION PAYMENT SCHEDULE PURSUANT TO <br /> AB 1X 26 <br /> WHEREAS, in compliance with AB 1X 26, enacted by the California State <br /> Legislature and signed by the Governor as part of the 2011-2012 State budget, the City <br /> of Redwood City determined it would serve as the Successor Agency to the Redwood <br /> City RedevelopmentAgency effective February 1, 2012; and <br /> WHEREAS, prior to the February 1, 2012 dissolution of the Redwood City <br /> Redevelopment Agency, a preliminary draft of the initial Recognized Obligation <br /> Payment Schedule was filed with the City as the Successor Agency to the Redwood <br /> City Redevelopment Agency by the January 31, 2012 deadline; and <br /> WHEREAS, on February 27, 2012, the City as the Successor Agency to the <br /> Redwood City Redevelopment Agency prepared the draft of the Draft Initial Recognized <br /> Obligation Payment Schedule for the enforceable obligations of the former <br /> Redevelopment Agency of Redwood City ("Initial ROPS"); and <br /> WHEREAS, the City as the Successor Agency to the Redwood City <br /> Redevelopment Agency desires to amend the Initial ROPS to include additional items <br /> that have recently been identified, to make reclassifications to clarify certain line items, <br /> and to correct minor errors to reflect all of the current enforceable obligations of the <br /> Successor Agency; and <br /> WHEREAS, the Amended Initial ROPS is not effective until it has been certified , <br /> by an independent external auditor, approved by the Oversight Board, provided to the <br /> County Auditor-Controller, the State Department of Finance and State Controller, and <br /> posted on the Successor Agency's website; and <br /> NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF REDWOOD CITY <br /> AS THE SUCCESSOR AGENCY TO THE REDWOOD CITY REDEVELOPMENT <br /> AGENCY DOES HEREBY RESOLVE AS FOLLOWS: <br /> Section 1. Recitals The Recitals set forth above are true and correct and <br /> incorporated herein by reference. <br /> Section 2. Initial ROPS. The City of Redwood City as the Successor Agency <br /> to the Redwood City Redevelopment Agency hereby approves the Amended Initial <br /> ROPS, attached hereto as Exhibit A. <br /> ATTY/RES0.2224IROPS RESO. # SA 72-OS <br /> REV:04-04-12 VR MUFF # 451 <br />