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RESOLUTION NO. OB 2017-02 <br /> RESOLUTION OF THE OVERSIGHT BOARD FOR THE <br /> SUCCESSOR AGENCY TO THE FULLERTON REDEVELOPMENT <br /> AGENCY ADOPTING THE SUCCESSOR AGENCY'S <br /> ADMINISTRATIVE BUDGET FOR FISCAL YEAR 2017-2018 <br /> WHEREAS, the Oversight Board for the Successor Agency to the Fullerton <br /> Redevelopment Agency (the "Oversight Board") has been established to direct the <br /> Successor Agency to take certain actions to wind down the affairs of the Fullerton <br /> Redevelopment Agency in accordance with the Health and Safety Code; and <br /> WHEREAS, pursuant to Health and Safety Code Section 34177(j), the <br /> Successor Agency shall prepare an administrative budget and submit it to the <br /> Oversight Board for their approval; and <br /> WHEREAS, on March 29, 2012, May 22, 2012, May 22, 2013, June 4, 2014, <br /> June 24, 2015, and June 15, 2016 the Oversight Board, by Resolution Nos. OB <br /> 2012-04, OB 2012-08, OB 2013-04, OB 2014-04, OB 2015-03, and OB 2016-02 <br /> previously approved the Successor Agency's administrative budget for the period of <br /> February 1, 2012 - June 30, 2012 and fiscal years 2012-2013 (July 1, 2012 - June <br /> 30, 2013), 2013-2014 (July 1, 2013 - June 30, 2014), 2014-2015 (July 1, 2014 - <br /> June 30, 2015), 2015-2016 (July 1, 2015 - June 30, 2016), 2016-17 (July 1, 2016- <br /> June 30, 2017; and <br /> WHEREAS, the proposed administrative budget shall include estimated <br /> amounts for Successor Agency administrative costs for the upcoming fiscal year <br /> period 2017-18 (covering July 1, 2017 - June 30, 2018) and shall identify the <br /> source of payment of such administrative costs; and <br /> WHEREAS, the proposed administrative budget for the Successor Agency <br /> for fiscal year 2016-2017 is attached hereto as Exhibit "A". <br /> NOW, THEREFORE, BE IT RESOLVED BY THE OVERSIGHT BOARD <br /> FOR THE SUCCESSOR AGENCY TO THE FULLERTON REDEVELOPMENT <br /> AGENCY, AS FOLLOWS: <br /> Section 1. The Successor Agency's Administrative Budget for Fiscal Year <br /> 2017-2018, a copy of which is attached hereto and incorporated herein as Exhibit <br /> "A", is hereby approved. <br /> Section 2. The Secretary shall certify to the adoption of this Resolution. <br /> [continued on next page] <br />