HomeMy WebLinkAbout2012-003 - Local Agency Investment Fund for the Purpose of Investment of the Former Agency FundsRESOLUTION NO. 2012-003
1-26-12 LES
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA ANA AS THE SUCCESSOR
AGENCY FOR THE FORMER COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF
SANTA ANA AUTHORIZING THE CITY TREASURER
TO REMIT AND MANAGE FUNDS WITH THE STATE
TREASURERS LOCAL AGENCY INVESTMENT
FUND FOR THE PURPOSE OF INVESTMENT OF
THE FORMER AGENCY FUNDS
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA, AS
FOLLOWS:
Section 1 . The City Council of the City of Santa Ana conclusively finds, determines
and declares as follows:
A. Section 16429.1 et seq of the Government Code created the Local
Agency Investment Fund in the State Treasury and requires the governing body's
consent to the remitting of funds by the Treasurer for investment into the Local Agency
Investment Fund for investment.
B. The California Supreme Court's decision in the recent Ca/ifo?nia
Redeye/opment Agency v. Matosantos case upheld ABX1 26 which will now control the
dissolution and winding down of every California redevelopment agency. ABX1 26
prohibits agencies from taking numerous actions, requires all agencies to wind down their
affairs effective immediately, and provides that agencies are deemed to be dissolved as
of February 1 , 2012.
C. The Community Redevelopment Agency of the City of Santa Ana
("Agency") previously consented to the remittance of money by the Treasurer to the Local
Agency Investment Fund for the purpose of investment by Resolution No. 91-07,
attached hereto and incorporated herein as Exhibit A.
D. The City of Santa Ana declared by Resolution No. 2012-002, a copy of
which is attached hereto and incorporated herein as Exhibit B, that it will assume the role
of the Successor Agency for the dissolved Agency and will administer the dissolution of
the Agency, including the disposition of all assets, properties, contracts, leases, records,
buildings and equipment of the former Agency.
E. The City of Santa Ana, as the Successor Agency for the Redevelopment
Agency, hereby consents to the remittance of money by the Treasurer to the Local
Agency Investment Fund for the purpose of investment of the former Agency funds.
Resolution No. 2012-003
Page 1 of 3
Section 2. The City of Santa Ana has elected to act as the Successor Agency for the
former Agency.
Section 3. The City of Santa Ana assumes the account of the former Redevelopment
Agency.
Section 4. The title of said investment account and all correspondence pertaining to
such account shall be sent to the City of Santa Ana, as Successor Agency for the dissolved
Community Redevelopment Agency of the City of Santa Ana, and directed as follows:
City of Santa Ana
20 Civic Center Plaza, M-13
Santa Ana, CA 92702
Attn: Treasurer
Section 5. The City of Santa Ana agrees to deposit or withdraw money in the State
Treasurer's Investment Pool in accordance with the provisions of Section 16429.1 et seq of the
Government Code for the purpose of investment as stated therein.
Section 6. The City of Santa Ana, as the Successor Agency for the Community
Redevelopment Agency, authorizes the Treasurer or her/his designee to order the deposit or
withdrawal of money in the State Treasurers' Investment Pool.
Section 7. Adoption of this Resolution by the City of Santa Ana shall be deemed the
consent required by Section 16429.1 of the Government Code for the deposit of money in the
Local Agency Investment Fund for the account of the former Community Redevelopment
Agency of the City of Santa Ana.
Section 8. This Resolution shall take effect immediately upon its adoption by the City
Council, and the Clerk of the Council shall attest to and certify the vote adopting this Resolution.
ADOPTED this 30t" day of January, 2012.
Miguel A. ulido
Mayor
APPROVED AS TO FORM:
Joseph Straka
Interim City Attorney
By: i c- ?P .
Lisa E. Storck
Assistant City Attorney
Resolution No. 2012-003
Page 2 of 3
1-26-12 LES
YES: Councilmembers: Alvarez. Bustamante. Martinez. Pulido. Sarmiento.
Tinaiero (6)
NOES: Councilmembers: None (O)
ABSTAIN: Councilmembers: None (O)
NOT PRESENT: Councilmembers: Benavides (11
CERTIFICATION OF ATTESTATION AND ORIGINALITY
I, MARIA D. HUIZAR, Clerk of Council, do hereby attest to and certify the attached Resolution
No. 2012-003 to be the original resolution adopted by the City Council of the City of Santa Ana
on January 30, 2012_
Date: %?3/ ??o/ ?- ?nGZ"`?- ? . f74?i zG,i
Clerk of Council
City of Santa Ana
Resolution No. 2012-003
Page 3 of 3
RESOLU'Y'ION NO. 91-07
A RESOLUTION OF THE CDMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF SANTA ANA AUTHORIZING THE
TREASURER TO REM=T FUNDS TO THE STATE
..TREASURERS LOCAL AGENCY INVESTMENT-FUND FOR
THE PURPOSE OF INVESTMENT BY THE AGENCX
. WHEREAS, Section s. 16429.1 et seq of the Government Code
.created the Local Agency Investment Fund 3n the State Treasuryt
'a nd
WFIEREAS, said Section 16429.1 bf the Government Code
.requires the governing body's consent for the remitting of funds
by the Treasurer to the State Treasurer for investment into the
Local Agency Investment Fund; and
WHEREAS, the Community Redevelopment Agency of the City of
-Santa Ana consents to the remittance of money by the Treasurer to
the Local Agency Investment Fund for the purpose of investment.
NoW, TF[EREFORE, BE IT RESOLVED BY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AS FOLLOWS:
1. That the Community Redevelopment Agency of the City
of Santa Ana hereby authorizes the establishment of an investment
account by the State Treasurer and consents to the remittance of
money to the State Treasurer for deposit in the Local Agency
Investment Fvnd; and
2. That the title of said investment account and all
correspondence to the Community Redevelopment Agency of the City
of Santa Ana concerning the same shall be directed as follows:
Community Redevelopment Agency
of the City of Santa Ana
Attentions Treasurer M-13
20 civic cent®Y plaza
Santa Ana, CA 92702
BE ST FURTHER RESOLVED that the Community Redevelopment
Agency of the City of Santa Ana agrees to deposit or withdraw
money in the State Treasurer's Investment Pool in accordance with
the provisions of section 16429.1 eC seq of L-he Government Code
for the purpose of investment as stated therein.
'?'Xi?l?rf? ??
RESOLUTION NO. 2012-002
1-9-12 LES REVISED
A' RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA ANA DESIGNATING THE CITY OF
SANTA ANA AS THE SUCCESSOR AGENCY FOR
THE FORMER COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF SANTA ANA PURSUANT
TO HEALTH 'AND SAFETY CODE SECTION 34173
AND DESIGNATING THE HOUSING AUTHORITY OF
THE CITY OF SANTA ANA AS THE SUCCESSOR
HOUSING AGENCY PURSUANT TO HEALTH AND
SAFETY CODE SECTION 34176
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA, AS
FOLLOWS:
Section 1. The City Council of the City of Santa Ana conclusively finds, determines
and declares as follows:
A. The California Supreme Court's decision in the recent Californie
Redevelopment Agency v. Matosantos case upheld AB1X 26 which wilt now control the
dissolution and winding down of every California redevelopment agency, and declared
unconstitutional AB1X 27 which would have enabled agencies to remain in operation as
long as they made specified annual payments to the sta#e.
B. .Pursuant to section 34173 of the California Health & Safety Code, the City
may elect to serve as the Successor Agency for the former Community Redevelopment
Agency of the City of Santa Ana ("Agency'). The Successor Agency will administer the
dissolution of the Agency, including the disposition of all assets, properties, contracts,
leases, records, buildings and equipment of the former Agency.
C. Pursuant to section 34176 of the California Health & Safety Code, the City
may elect to assume the housing assets and functions previously performed by the
Agency or may select the local housing authority that is in the territorial jurisdiction of the
former Agency. Thus, the Cily can select the Housing Authority of the City of Santa Ana
to receive the housing assets of the Agency and to perform housing functions (including
all rights, powers, duties and obligations) previously performed by the Agency.
D. Health and Safety Code Section 34173(e) provides that 'the liability of any
successor agency, acting pursuant to the powers granted under the act adding this part,
shall be limited to the extent of the total sum of property tax revenues it receives
pursuant to this part and the value of assets transferred to it as a successor agency for a
dissolved redevelopment agency." Thus, the City's obligations as Successor Agency
are limited by the amount of property taxes and the value of assets it receives In its role
as the Successor Agency.
E. By taking on the housing functions of the former Agency, the Housing
Authority may incur obligations relating to the development and/or monitoring of
Resolution No. 20'i2-OD2
Page 1 of 3
affordable housing units; however, tie Housing Authority is also expected to receive
certain housing assets of the Agency. ,The law is unclear as to the full extent of the
obligations that may be imposed on the Housing- Authority, acting as the Housing
Successor Agency, and the character of the assets that will be transferred to the
Housing Authority in such role.
F. Section 34179 of the California Health 8. Safety Code describes the
oversight board that shall be created on or before May 1, 2012. The City shall proceed
Yo work with the County and other entities to fill the required positions on said board.
Section 2. The City of Santa Ana hereby elects to act as the Successor Agency for
the fiormer Agency.
Section 3. The City of Santa Ana hereby selects the Housing Authority of the City of
Santa Ana to assume the housing assets and functions previously performed by the Agency
and to act as the Successor Housing Agency for the former Agency.
Section 4. The Council hereby directs City staff to work with the County and other
entities to establish the oversight board in accordance with Section 34179 of the California
Health & Safety Code.
Section 5. The City Manager is hereby authorized and directed to take such other
and further actions, and sign such other and further documents, as are necessary and proper
in order to implement this Resolution on behalf of the City.
Section 6. This Resolution shall take effect immediately upon its adoption by the City
Council, and the Clerk of the Council shall attest to and certify the vote adopting this
Resolution.
Resolution No. 20'12-002
Page 2 of 3
ADOPTED this 91h day of January, 2012.
APPROVED AS TO FORM:
Joseph Straka
Interim City Attorney
BY=i -tom' ? ? ? ?-+-?? .
Lisa E. Storck
Assistant City Attorney
1-9-12 LES REVISED
guel A. Pu ido
Mayor
YES: Councilmembers: Bustamante. Martinez. Pufido. Sarmiento !4)
NOES: Councilmembers: None (O)
ABSTAIN: Councllmembers: None (O)
NOT PRESENT: Councilmembers: Alvarez. Benavides. Tinaiero !3)
CERTIFICATION OF ATTESTATION AND ORIGINALITY
I, MARIA D. HUIZAR, Clerk of Council, do hereby attest to and certify the attached Resolution
No. 2012-002 to be the original resolution adopted by the City Council of the City of Santa Ana
on January 9, 2012.
Date: bt ?l o ?aai Z ?-f? qi,,,.?. ? _ /?i .Z?Y
Clerk of Council
City of Santa Ana
ResolutEon No. 20'12-002
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