SA RES 2012-002 RESOLUTION NO. SA 2012-02
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUCCESSOR
AGENCY TO THE RANCHO PALOS VERDES REDEVELOPMENT
AGENCY CREATING A REDEVELOPMENT OBLIGATION RETIREMENT
FUND PURSUANT TO HEALTH AND SAFETY CODE SECTION 34170.5
AND TAKING CERTAIN ACTIONS IN CONNECTION THEREWITH.
RECITALS:
A. AB X1 26 and AB X1 27 were signed by the Governor of California on June
29, 2011, making certain changes to the Community Redevelopment Law (Part 1
(commencing with Section 33000) of Division 24 of the California Health and Safety Code)
(the "Redevelopment Law"), including adding Part 1.8 (commencing with Section
34161)("Part 1.8") and Part 1.85 (commencing with Section 34170) ("Part 1.85").
B. The California Redevelopment Association and League of California Cities
filed a lawsuit in the Supreme Court of California (California Redevelopment Association, et
al. v. Matosantos, et al. (Case No. S194861)) alleging that AB X1 26 and AB X1 27 are
unconstitutional. On December 29, 2011, the Supreme Court issued its opinion in the
Matosantos case, largely upholding AB X1 26, invalidating AB X1 27, and holding that AB
X1 26 may be severed from AB X1 27 and enforced independently.
C. The Supreme Court generally revised the effective dates and deadlines for
performance of obligations in Part 1.85 arising before May 1, 2012, to take effect four
months later.
D. As a result of the Supreme Court's decision, the Rancho Palos Verdes
Redevelopment Agency (the "Redevelopment Agency"), a redevelopment agency in the City
of Rancho Palos Verdes (the "City"), created pursuant to the Redevelopment Law, w as
dissolved pursuant to Part 1.85 on February 1, 2012.
E. By its Resolution No. 2011-66, adopted on September 6,,2011, the City
Council of the City made an election to serve as the successor agency for the
Redevelopment Agency under Part 1.85 (the "Successor Agency").
F. By its Resolution No. SA 2012-01, adopted on February 21, 2012, the City
Council, acting as the governing board for the Successor Agency, established rules and
regulations applicable to the governance and operation of the Successor Agency, and
pursuant to such resolution provided that the Successor Agency will be governed by a
Board of Directors (the "Board") consisting of the members of the City Council of the City.
G. Health and Safety Code Section 34170.5 provides that each successor
agency shall create within its treasury a Redevelopment Obligation Retirement Fund to be
administered by the successor agency.
H. Accordingly, the Board desires to adopt this Resolution creating a
Redevelopment Obligation Retirement Fund within the treasury of the Successor Agency.
NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE SUCCESSOR
AGENCY TO THE RANCHO PALOS VERDES 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. This Resolution is adopted pursuant to Health and Safety Code Section
34170.5.
Section 3. The Executive Director and the Finance Officer are hereby authorized
and directed to create within the treasury of the Successor Agency a Redevelopment
Obligation Retirement Fund to be administered by the Successor Agency.
Section 4. The Secretary is hereby authorized and directed to file a certified copy
of this Resolution with the County Auditor-Controller.
Section 5. The officers and staff 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, and any such actions previously taken by such
officers are hereby ratified and confirmed.
PASSED, APPROVED, AND ADOPTED this 21st day of February, 2012.
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Secretary
State of California )
County of Los Angeles ) ss
City of Rancho Palos Verdes )
I, Carla Morreale, Secretary of the Successor Agency to the Rancho Palos
Verdes Redevelopment Agency hereby certify that the above Resolution No. SA 2012-02
was duly and regularly passed and adopted by the said Successor Agency at a special
meeting thereof held on February 21, 2012.
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7314
Secretary
Resolution No. SA 2012-02
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