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2012-010 - Successor agency to the former RDA adopting EOPS approving an initial ROPS approving Successor Agency Admin Budget, possibly separate assets and liabilities, authorizing TM to take action effectuate requirements of Dissolution Act, authorizinRESOLUTION 2012 -010 RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS, ACTING AS THE SUCCESSOR AGENCY FOR THE REDEVELOPMENT AGENCY OF THE TOWN OF LOS GATOS, ADOPTING THE FIRST AMENDED ENFORCEABLE OBLIGATION PAYMENT SCHEDULE, APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE, APPROVING THE SUCCESSOR AGENCY ADMINISTRATIVE BUDGET, DIRECTING THE CITY MANAGER TO TAKE ALL ACTIONS NECESSARY TO EFFECTUATE ASSOCIATED REQUIREMENTS OF ABX1 26, AND AUTHORIZING MAYOR TO MAKE APPOINTMENTS TO THE OVERSIGHT BOARD WHEREAS, the California state legislature enacted Assembly Bill xl 26 (the "Dissolution Act ") to dissolve redevelopment agencies formed under the Community Redevelopment Law (Health and Safety Code Section 33000 et. seg.); and WHEREAS, on January 9, 2012 and pursuant to Health and Safety Code Section 34173, the City Council of the Town of Los Gatos (the "Town Council ") declared that the Town of Los Gatos, a municipal corporation (the "Town "), would act as successor agency (the "Successor Agency ") for the dissolved Redevelopment Agency of the Town of Los Gatos (the "Former RDA ") effective February 1, 2012; and WHEREAS, on February 1, 2012, the Former RDA was dissolved pursuant to Health and Safety Code Section 34172; and WHEREAS, the Dissolution Act provides for the appointment of an oversight board (the "Oversight Board ") with specific duties to approve certain Successor Agency actions pursuant to Health and Safety Code Section 34180 and to direct the Successor Agency in certain other actions pursuant to Health and Safety Code Section 34181; and WHEREAS, on January 28, 2012, the Former RDA adopted its latest enforceable obligation payment schedule (the "RDA FOPS ") as required pursuant to Health and Safety Code Section 34169(g); and WHEREAS, Health and Safety Code Section 34177(a)(1) requires the Successor Agency to amend the RDA EOPS to remove specified agreements and adopt the amended EOPS (the "Amended EOPS ") and make associated notifications and distributions; and WHEREAS, Health and Safety Code Section 34177(1) (2) (A) requires the Successor Agency to prepare a draft recognized obligation payment schedule (the "ROPS ") and make associated notifications and distributions; and WHEREAS, Health and Safety Code Section 341770) requires the Successor Agency to prepare an administrative budget (the "Successor Agency Administrative Budget "); and WHEREAS, Health and Safety Code Section 34177(k) requires the Successor Agency to prepare administrative cost estimates from the information set forth in the Successor Agency Administrative Budget (the "Successor Agency Administrative Cost Estimates ") and provide them to the Auditor - Controller for the County of Santa Clara; and WHEREAS, the ROPS and Successor Agency Administrative Budget must be approved by the Oversight Board pursuant to Health and Safety Code Sections 34177(1)(2)(B) and 341770), respectively. NOW, THEREFORE, BE IT RESOLVED that the Town Council, acting as the Governing Board of the Successor Agency, hereby authorizes and directs the Town Manager or the Town Manager's designee, acting on behalf of the Successor Agency, to organize and call the meetings of the Oversight Board, as soon as practicable after the appointment of the Oversight Board but no later than the date required by Health and Safety Code Section 34179, to facilitate the Oversight Board's approval of the ROPS and Successor Agency Administrative Budget. BE IT FURTHER RESOLVED that unless and until the Town Council, acting as the Governing Board of the Successor Agency, resolves otherwise, the Successor Agency shall be referred to in all its official documents, papers, reports, agreements, deeds, and other written materials, and shall carry out its duties and exercise its rights as the "Town of Los Gatos, acting in its capacity as the Successor Agency of the Redevelopment Agency of the Town of Los Gatos ", or similar wording. BE IT FURTHER RESOLVED that the Town Council, acting as the Governing Board of the Successor Agency, declares that the assets, obligations, liabilities, and activities of the Successor Agency are and shall remain separate from the assets, obligations, liabilities and activities of the Town, and that all costs of, liabilities of, and claims against the Successor Agency and/or the Oversight Board shall be solely the costs and liabilities of the Successor Agency and/or the Oversight Board and shall not be costs of, liabilities of, and/or claims against the City. BE IT FURTHER RESOLVED that the Town Council, acting as the Governing Board of the Successor Agency and in conformance with Health and Safety Code Section 34177(a) (1), hereby adopts the RDA EOPS (a copy of which is on file with the City Clerk) as the Successor Agency's Amended EOPS, conditioned on removal from the RDA EOPS of the Invalidated Agreements. As used in this Resolution, "Invalidated Agreements" means those agreements between the Redevelopment Agency and the City that remain invalidated pursuant to Health and Safety Code Section 34178 following the final outcome of (1) all pending and potential statutory amendments to Health and Safety Code Section 34178 or other applicable provisions of the Dissolution Act (including, without limitation, amendments pursuant to SB 654 and AB 1585), and (2) all pending and potential litigation regarding the validity of Health and Safety Code Section 34178 and other applicable provisions of the Dissolution Act (including, without limitation, any such litigation initiated by the Town). "Invalidated Agreements" expressly do not include any agreements that are deemed valid following the final outcome of any of the events described in the preceding sentence, and expressly do not include any agreements that are described as being valid pursuant to Health and Safety Code Section 34178(b). BE IT FURTHER RESOLVED that the Town Council, acting as the Governing Board of the Successor Agency, hereby approves the ROPS and the Successor Agency Administrative Budget, which contains the Successor Agency Administrative Cost Estimates. Copies of the ROPS and the Successor Agency Administrative Budget are also on file with the Town Clerk Administrator. BE IT FURTHER RESOLVED that the Town Council, acting as the Governing Board of the Successor Agency, hereby authorizes and directs the Town Manager or the Town Manager's designee, acting on behalf of the Successor Agency, to file, post, mail or otherwise deliver via electronic mail, internet posting, and/or hardcopy, all notices and transmittals necessary or convenient in connection with the adoption of the Amended EOPS, approval of the ROPS, approval of the Successor Agency Administrative Budget containing the Successor Agency Administrative Cost Estimates, and other actions taken pursuant to this Resolution. BE IT FURTHER RESOLVED that nothing in this Resolution shall abrogate, waive, impair or in any other manner affect the right or ability of the Town, as a municipal corporation, to initiate and prosecute any litigation with respect to any agreement or other arrangement between the Town and the Former RDA, including, without limitation, any litigation contesting the purported invalidity of such agreement or arrangement pursuant to the Dissolution Act. BE IT FURTHER RESOLVED that the Mayor shall be authorized to make any future appointments to the Oversight Board. BE IT FURTHER RESOLVED, that this Resolution shall take immediate effect upon adoption. PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos held on the 5 day of March 2012 by the following vote: AYES: Steven Leonardis, Diane McNutt, Joe Pirzynski, Barbara Spector, and Mayor Steve Rice NAYS: /_11:L'IK\1►1i ABSENT: ATTEST: �,, // // ATTEST SIGNED: MAYOR OF THE TOWN OF LOS GATOS CLERK ADMINISTRATOR TOWN OF LOS GATOS