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RESOLUTION NO. SA 2020-01 <br />A RESOLUTION OF THE FULLERTON SUCCESSOR AGENCY OF THE <br />CITY OF FULLERTON, CALIFORNIA, APPROVING AND ADOPTING <br />THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE 2020-2021 <br />AND ADMINISTRATIVE BUDGET ALLOWANCE (PERIOD COVERING <br />JULY 1, 2020 — JUNE 30, 2021) <br />WHEREAS, the Fullerton Successor Agency to the Fullerton Redevelopment <br />Agency (the "Successor Agency") has been established to take certain actions to wind <br />down the affairs of the former Fullerton Redevelopment Agency in accordance with the <br />Health and Safety Code. <br />WHEREAS, pursuant to Health and Safety Code Section 34177, the Recognized <br />Obligation Payment Schedule (ROPS) prepared by the Successor Agency is to be <br />submitted to the County Oversight Board for their approval. <br />WHEREAS, the ROPS contains a list of enforceable obligations including, but <br />not limited to, the following: 1) existing bond debt payments 2) contracts, leases and <br />agreements 3) administering ongoing affordable housing and loan programs 4) a <br />stipulated judgement and 5) administrative budget allowance. <br />WHEREAS, the ROPS includes all the funds the City of Fullerton Successor <br />Agency will need to carry out the dissolution process of the former Fullerton <br />Redevelopment Agency and pursuant to Health and Safety Code Section 34177(1)(1) <br />shall identify the funding source of payment for the enforceable obligations listed on the <br />ROPS. <br />WHEREAS, the Successor Agency Staff has now prepared the Recognized <br />Obligation Payment Schedule 2020-2021 and administrative budget allowance for the <br />time period of July 1, 2020 — June 30, 2021. <br />NOW, THEREFORE, BE IT RESOLVED BY THE FULLERTON SUCCESSOR <br />AGENCY TO THE FULLERTON REDEVELOPMENT AGENCY, AS FOLLOWS: <br />Section 1. The above recitals are true and correct and incorporated by <br />reference herein. <br />Section 2. The Recognized Obligation Payment Schedule 2020-2021 and <br />administrative budget allowance (for the time period of July 1, 2020 — June 30, 2021) is <br />hereby approved. <br />Section 3. Subsequent to the approval of this Resolution by the Successor <br />Agency, this Resolution including the ROPS 2020-2021 shall be transmitted to the <br />Orange County Oversight Board. <br />Section 4. The City Clerk / Secretary shall certify to the adoption of this <br />Resolution. <br />