HomeMy WebLinkAboutOSB Resolution 2015-01 02/25/2015Resolution No. 2015-01
Petaluma Oversight Board to the
Petaluma Community Development Successor Agency
RESOLUTION OF THE OVERSIGHT BOARD FORMED PURSUANT TO HEALTH AND
SAFETY CODE SECTION 34179 TO OVERSEE THE PETALUMA COMMUNITY
DEVELOPMENT SUCCESSOR AGENCY, APPROVING THE RECOGNIZED OBLIGATION
PAYMENT SCHEDULE AND THE SUCCESSOR AGENCY ADMINISTRATIVE BUDGET FOR
THE PERIOD ENDING DECEMBER 31, 2015.
WHEREAS, on December 29, 2011, the California Supreme Court delivered its
decision in California RedevelopmentAssociation v. Matosantos, finding ABX1 26 (the
"Dissolution Act") largely constitutional; and
WHEREAS, under ABx1 26 (the "Dissolution Act") and the California Supreme Court's
decision in California RedevelopmentAssociation v. Matosontos, all California redevelopment
agencies, including the Petaluma Community Development Commission (the "former PCDC"
"), were dissolved on February 1, 2012; and
WHEREAS, on January 9, 2012 by Resolution No. 2012-007 N.C.S. the City Council
elected that the City of Petaluma serve as the Successor Agency to the former PCDC, subject
to all limitations, conditions and qualifications stated in that resolution; and
WHEREAS, under the Dissolution Act, the Petaluma Community Development Agency
(PCDSA) must prepare a "Recognized Obligation Payment Schedule" ("ROPS") that
enumerates the enforceable obligations and expenses of the Successor Agency for six-month
periods; and
WHEREAS, on February 23, 2015, the PCDSA approved the ROPS 15-16A for the six-
month period ending December 31, 2015 for the Successor Agency; and
WHEREAS, under the Dissolution Act, the ROPS 15-16A must be approved by the
Oversight Board to enable the PCDSA to continue to make payments on enforceable
obligations of the former PCDC; and
WHEREAS, pursuant to the Dissolution Act, the duly -constituted Oversight Board for
the PCDSA met at a duly -noticed public meeting on February 25, 2015 to consider obligations
listed on the ROPS 15-16A, and consider approval of the ROPS15-16A; and
NOW, THEREFORE, BE IT RESOLVED that the Oversight Board, formed pursuant to
California Health and Safety Code Section 34179 to oversee the Petaluma Community
Development Successor Agency, hereby finds, resolves, and determines as follows:
1. The foregoing recitals are true and correct.
OSB Resolution No. 2015-01 Page 1