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RESOLUTION NO. OB SARDA 12-11
A RESOLUTION OF THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY TO THE TEMECULA
REDEVELOPMENT AGENCY ACKNOWLEDGING THE
RECEIPT OF THE REVIEW OF THE OTHER
REDEVEOPMENT FUNDS CONDUCTED PURSUANT TO
HEALTH AND SAFETY CODE SECTION 34179.5
THE BOARD OF DIRECTORS OF THE OVERSIGHT BOARD OF THE
SUCCESSOR AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY DOES
HEREBY RESOLVE AS FOLLOWS:
Recitals. The Board of Directors of the Oversight Board of the Successor
Agency to the Temecula Redevelopment Agency does hereby find, determine and
declare that:
A. Pursuant to Health and Safety Code Section 34175(b) and the California
Supreme Court's decision in California Redevelopment Association, et al. v. Ana
Matosantos, et al. (53 Cal.4th 231(2011)), on February 1, 2012, all assets, properties,
contracts, leases, books and records, buildings, and equipment of the former Temecula
Redevelopment Agency transferred to the control of the Successor Agency to the
Temecula Redevelopment Agency (the "Successor Agency") by operation of law.
B. Health and Safety Code Section 34179.5 requires the Successor Agency
to employ a licensed accountant, approved by the county auditor-controller, to conduct '
a due diligence review to determine the unobligated balances available for transfer to
taxing entities.
C. Health and Safety Code Section 34179.6 requires the Successor Agency
to submit the results of the review conducted pursuant to Section 34179.5 for the other
Redevelopment Funds and specifically the amount of cash and cash equivalents
determined to be available for allocation to taxing entities (the "Due Diligence Review")
to the Successor Agency's Oversight Board (the "Oversight Board") for the Oversight
Board's review and approval.
D. Pursuant to Health and Safety Code Sections 34179.6 and 34180(j), the
Successor Agency submitted to the Oversight Board, the county administrative officer,
the county auditor-controller, the State Controller and the Department of Finance
("DOF") the Due Diligence Review and a copy of the Recognized Obligation Payment
Schedule ("ROPS").
,
E. Pursuant to Health and Safety Code Section 34179.6(b), upon receipt of
the Due Diligence Review, and at least five business days before the Oversight Board
considers the approval of the Due Diligence Review, the Oversight Board must hold a
public comment session (the "Public Comment Session") at which time the public has
an opportunity to hear and be heard on the results of the Due Diligence Review and at
which time the Oversight Board considers the opinions, if any, offered by the county
auditor-controller on the results of the Due Diligence Review.
F. On the date of this Resolution, the Oversight Board will hold the Public
Comment Session pursuant to Health and Safety Code Section 34179.6(b).
NOW, THEREFORE, THE OVERSIGHT BOARD OF THE SUCCESSOR
AGENCY TO THE TEMECULA REDEVELOPMENT AGENCY HEREBY FINDS,
DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS:
Section 1. The above recitals are true and correct and are a substantive part
of this Resolution.
Section 2. The Oversight Board hereby acknowledges receipt of the Due
Diligence Review.
Section 3. The staff and the Board of the Successor Agency are hereby
authorized and directed, jointly and severally, to do any and all things which they may
deem necessary or advisable to effectuate this Resolution.
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PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Oversight
Board of the Successor Agency to the Temecula Redevelopment Agenc this 12th day of
December, 2012.
John M y r, Chairperson
ATTEST:
s,c�..�_ .
S n . Jones, C
Board Secretary
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE )
CITY OF TEMECULA )
I, Susan W. Jones, MMC, Board Secretary of the Successor Agency to the
Temecula Redevelopment Agency, do hereby certify that the foregoing Resolution No. OB
SARDA 12-11 was duly and regularly adopted by the Board Members of the Oversight
Board of the Successor Agency to the Temecula Redevelopment Agency of the City of
Temecula at a meeting thereof held on the 12th day of December, 2012, by the following
vote:
AYES: 6 BOARD MEMBERS: Meyer, Thornhiil, Sparkman, Kelliher, Gonzales
Ordway-Peck
NOES: 0 BOARD MEMBERS: none
ABSENT: 1 BOARD MEMBERS: Turner
ABSTAIN: 0 BOARD MEMBERS: none
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Susa W. J es, MMC
Secretary
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