2019-02 SA RESOLUTION NO. SA 2019-02
RESOLUTION OF.THE SUCCESSOR AGENCY TO THE
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY
OF GRAND TERRACE APPROVING AN AMENDMENT TO
THE LAST AND FINAL RECOGNIZED OBLIGATION
PAYMENT SCHEDULE AND ADMINISTRATIVE BUDGET'
WHEREAS, pursuant to HSC 34173(d), the Successor Agency to the Community
Redevelopment Agency of the City of Grand Terrace. is the successor agency (the
"Successor Agency")to the prior Community Redevelopment Agency of the City of Grand
Terrace; and
WHEREAS, HSC 34191.6(c)(2)(A) allows successor agencies to submit two (2)
amendment requests of the Last and Final Recognized Obligation Payment Schedule
("Last and Final ROPs") to the State of California Department of Finance ("DOF"), after
such request is reviewed and approved by the oversight board; and
WHEREAS, HSC 34177 requires the San Bernardino Countywide Oversight
Board ("the Oversight Board") to approve the Recognized Obligation Payment Schedule .
('BOPS") and administrative budget; and
WHEREAS, pursuant to HSC 34191.6, the Successor Agency prepared a Last and
Final ROPS that was approved by DOF by letter dated August 6, 2018; and
WHEREAS, in order to evaluate the most efficient, practical and financially
responsible expenditure of the moneys held by the Successor Agency, the Successor
Agency has retained certain legal and financial advisors to evaluate the potential early
redemption and defeasance in full of all outstanding Community Redevelopment Agency
of the City of Grand Terrace Community Redevelopment Project Area, Tax Allocation
Bonds, Issue of 2011A(the "2011A Bonds") and the Community Redevelopment Agency
of the City of Grand Terrace Community Redevelopment Project Area, Taxable Tax
Allocation Bonds, Issue of 2011 B (the "2011 B Bonds" and, together with the 2011 A
Bonds, the "2011 Bonds"); and
WHEREAS, based on such evaluation and the advice of such legal and financial
advisors, and based on the available funds at the time of defeasance, the Successor
Agency has determined that the Successor Agency will have sufficient available moneys
to defease all of the 2011 Bonds, using the remaining unspent bond proceeds and other
extra funds; and
WHEREAS, the Successor Agency's municipal advisor, has prepared an analysis
(the `Report"), which.demonstrates that affected taxing entities will receive increased
distributions of money from the Successor Agency's Redevelopment Property Tax Trust
Fund. and will receive such moneys earlier as a result of the application and use of the
SA Reso No.2019-02 Page 1 of 4 May 28, 2019
certain moneys for the early redemption and defeasance of the 2011 Bonds pursuant to
an escrow agreement, as compared with the moneys the affected taxing entities will
receive under the current Last and Final ROPS, and therefore it is in the best interests of,
all taxing entities that the Successor Agency execute and deliver an escrow agreement
and deposit certain moneys with the 2011 Bonds Trustee, acting as escrow bank, to
redeem and defease the 2011 Bonds on the first optional redemption dates permitted
under the 2011 Bonds' Indenture (or as soon as practical); and
WHEREAS,. on May 28, 2019, the Successor Agency adopted a resolution
approving the full redemption and defeasance of the 2011 Bonds, and the execution of
an escrow agreement and related documentation as necessary. to effectuate the
defeasance (the "Successor Agency Resolution"); and
WHEREAS, the Successor Agency Resolution contemplated an amendment to
the Last and Final ROPS in connection with the defeasance and the escrow agreement;
and
WHEREAS, there is presented herewith an amendment to the Last.and Final
ROPs reflecting figures assuming a defeasance date of on or prior to August 1, 2019 to
provide for a redemption of the 2011 A Bonds on September 1, 2019 and the 2011 B Bonds
on September 1, 2021 ("ROPs Amendment"); and
WHEREAS, the ROPs amendment may be adjusted post approval to account for
a later defeasance date, a change in funds on hand or an alternative approval by the
Oversight Board or DOF ("Changes"); and
WHEREAS, the Successor Agency has reviewed the ROPs Amendment and other
documents and reports submitted herewith and is fully briefed on the issues.
NOW, THEREFORE, THE SUCCESSOR AGENCY TO THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF GRAND TERRACE, CALIFORNIA
DOES HEREBY RESOLVE AS FOLLOWS:
Section 1.. Recitals. The foregoing recitals are true and correct and
incorporated into this Resolution by this reference.
Section 2. . Approval. The ROPs Amendment and administrative budget in the
form presented (and as may be adjusted to take into account the Changes), which is
attached hereto as Exhibit A and incorporated herein by this reference, are hereby
approved.
Section 3. Submittal. The Successor Agency staff shall submit the ROPs
Amendment and administrative budget and this Resolution to the Oversight Board and
the DOF for approval.
SA Reso No.2019-02 Page 2 of 4 May 28, 2019
Section 4. Official Action. The officers of the Successor Agency are hereby
authorized and directed, for and in the name and on behalf of the Successor Agency, to
do any and all things and take any and all actions which they, or any of them, may deem
necessary or advisable in order to consummate the full defeasance of the 2011 Bonds
and the purposes of this Resolution and the ROPs Amendment.
Section 5. . Severabilitv. If any provision of this Resolution or the application of
any such provision to any person or circumstance is held invalid, such invalidity shall not
affect other provisions or applications of this Resolution that can be given effect without
the invalid provision or application, and to this end the provisions of this Resolution are
severable. The Successor Agency declares that the Successor Agency would have
adopted this Resolution irrespective of the invalidity of any particular portion of this
Resolution.
Section 6. Effective Date. This Resolution shall take effect immediately upon
its passage.
PASSED, APPROVED AND ADOPTED. by the Successor Agency for the Grand
Terrace Redevelopment Agency at a Regular Meeting held on the 28t' day of May 2019.
Dar4y MdN6boe
Chair ccessor Agency for the
Community Redevelopment Agency of
the City of Grand Terrace
ATTEST:
Debra L. Thomas
Agency Secretary
.APPROVED AS TO FORM:
Adrian Guerra
Agency Counsel
SA Reso No. 2019-02 Page 3 of 4 May 28, 2019
Exhibit A
ROPS Amendment and Administrative Budget
SA Reso No.2019-02 Page 4 of 4 May 28, 2019
Approved Approved Last and Final Recognized Obligation Payment Schedule(ROPS)-Summary
Filed for the July 1,2017 through June 30,2048 Period
Successor Agency: Grand Terrace
County: San Bernardino
Initial ROPS Period ROPS 19.20A
Final ROPS Period ROPS 33-34B
Total Outstanding
Requested Funding for Enforceable Obligations Obligation
A Enforceable Obligations Funded as Follows(B+C): $. 17,068,520
B Bond Proceeds 17,068,520
C Other Funds
D Redevelopment Property Tax Trust Fund(RPTTF)(E+F): $ 2,197,758.
E RPTTF
" 2,138,758.
F Administrative RPTTF 59,000'
G Total Outstanding Enforceable Obligations(A+D):. $ 19,266,278
Certification of Oversight Board Chairman:
Pursuant to Section 34177(o)of the Health and Safety code,I hereby
certify that the above is a true and accurate Recognized Obligation Name Title
Payment Schedule for the above named agency. /s/
Signature Date
l
GRAND TERRACE Approved Last and Final Recognized Obligation Payment Schedule(ROPS)-Summary by ROPS Period
July 1,2019 through June 30,2034
A Period
.July--December
January-June:
Fund Sources I Fund Sources
'ROPS Period I Bond Proceeds I Other Funds I RPTTF I Admin RPTTF I Six-Month Total ROPS Period' Bond Proceeds I Other Funds I. RPTTF I Admin RPTTF Slx-Month Total Twelve-Month Total
Is 17,068,520 I$ _.I$, _ 1,223,346 I$ 13,000 1$ 18,304,866 -.•• I$`-.: I$..... •. �`L$..... 915412;I,$;.•,• "46;000•I$- 961;412"($, ,19,286,278
ROPS 17-18A ROPS 17-188
ROPS 18-19A I 'I 'I -I -I $ ROPS 18-198 I -I -I -I -I'$'` `•.,`I.$. ... .-
ROPS 19-20A I 17,068,5201 -I 1.223,3461 13,0001 $ 18,304,866 ROPS 19-20B I -I -I 292,4381 -I $ 292,4381 $ ... 18,597.304
ROPS 20-21A I -I -I -I -I $ - - ROPS 20-21 B I -I -I 292,4381 13,0001 $ ,. 305,438I $ ... •305.438
ROPS 21-22A I 'I 'I -I 'I $. ROPS 21-22B I -I -I 56,3001 5,000I-$ 61,3001 $'., - - 61,300
ROPS 22-23A I 'I 'I -I -I $-.: ': ROPS 22-23B I -I -I 56,3001 6,0001 $. •. r61,3001�$ 61,300
ROPS 23-24A I -I -I -I 'I $ _ - ROPS 23-24B I -I -I 56,3001 5,000I $ '.61,3001 $ 61,300
BOPS 24-25A I -I -I -I -I $. - BOPS 24-25B I -I -I 56,3001 5,000I'$;" "::.:'6173001 $'"" 61;300
ROPS 25-26A I "I 'I -I -I.$ - ROPS 25-26B I -I -I 54.9361 5,0001 $ 59.9361 $ .59;936
ROPS 26-27A I 'I -I -I -I $ ROPS 26-27B I -I -I 6.3001 1,0001.$ 7,3001 $: :7;300
ROPS 27-28A I 'I -I -I 'I $ - ROPS 27-28B I -I -I 6,3001 1.0001•$ 7.3001 $. ..7,300
ROPS 28-29A I -I 'I -I -I $ - ROPS 28-29B I -I -I 6,3001 1,000I;$, 7,3001•$ •:7,300
ROPS 29-30A I -I -I -I -I $ - ROPS 29-30B I -I -I 6,3001 1,0001 7,300(,$ 7;300
ROPS 30-31A I 'I -I -I -I $ - ROPS 30-31B I -I -I 6,3001 1,0001,;;$; ,.7,300) $ 7,300
ROPS 31-32A I -I 'I 'I 'I-$ - ROPS 31-32B I -I -I 6,3001 1,0001 $, -' !-'. .7,300)'$' 7,300
ROPS 32-33A I -I -I -I -I $ - ROPS 32-33B I -I -I 6,3001 1,000I":$ "".t7;300( $.':" 7,300
ROPS 33-34A I -I -I -I -I $- - - ROPS 33-34B I -I -I 6,3001 1.000I"$."-; ;;;"7,300I $,:...., 7.300
I
GRAND TERRACE APPROVED LAST AND FINAL ROPS
July 1,2019 through June 30,2034
(Report Amounts in Whole Dollars)
A I B I C I D I E I F I G I H I I I Z I AA I AB
19-20A(July-December)
Contract/Agree Contract/Agreeme Fund Sources
Project Name/Debt ment Execution nt Termination Total Outstanding
Item# Obligation Obligation Type Date Date Payee Description/Project Scope Project Area Obligation Bond Proceeds Other Funds I RPTTF
I I. I I I. .. . .I ... I 'I$ .18,042,932 1$....1.7,068,520 1$.... 1.$ _ 1,223,346'
112011 A Tax Allocation IBonds Issued After 111112011 I9/1/2033 IUS Bank (Bond Princioal and Interest on RDA 1 1 13,128.6941 13.128.6941 -1 724.958
212011 B Tax Allocation I Bonds After I1/1/2011 I9/1/2026 IUS Bank IBBond onds Principal and Interest on RDA I I 3,939,8261 3,939,8261 -I 498,388
Bond31Trustee Fees ]Fees 11/1/2011 19/1/2033 IUS Bank ]Trustee Fees I I 5,4001 -1 -1 -
5lRe ( I
Repayment
ent of Debt Miscellaneous 1/28/2012 I1128/2021 IS13 Valley Muni ter Repayment
distributed by SBCct debt service I I 466,8761
TC
Trofessional Services Property Maintenance 14/12/2011 1613012016 Cal Dreamscape Weed abatement for Agency owned
(Landscape/Riversidelproperly&water
Highland Water
10IProfessional Services (Professional Services I211/2012 I6/30/2034 (Urban Futures IS E.C.Rule 5c2-12 Compliance I I 19,5001
38IAnnual Audit and (Fees I81126/2014 I8/26/2019 (Lance,Soll, (Required annual auditing services I 75,0001
Reporting
411201 Projects
Band (improvement/Infrastructurl3113/2012 I through 3/13/2020 (Contractors/Staff ] Terrace Project CIP(Items 18
25)
511SERAF Loan LMIHF- ISERAF/ERAF I4/26/2011 I4/26/2016 ILMIHF Reserve ent of loan for SERAF- I I 348,6361
Reserve 53IAdministrative Expenses IAdmin Costs I7/1/2017 I6/30/2018 (Various (Employee costs,administrative I I 59,0001 I
supplies and cost,legal services
A I B I AC I AD I AE I AF I AG I AH I Al I AJ AK I AL I AM I AN
..
19 20B(January June) 20-21A(July:=December) = 20 21Br(January Jun
Fund Sources I Fund Sources I Fund Sources
Project Name/Debt I I I I Admin
Item# I Obligation Admin RPTTF Bond Proceeds Other Funds RPTTF RPTTF Bond Proceeds I Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF
1$ 13,000 1'$ :292-,438'I$ 1$ -- - -I$ -1$ 1$.._-.. -1$._'.. 1.$.,..,- r:I$' 292,438.
112011 A Tax Allocation I I I I I I I I I I I I
212011 B Tax Allocation I I
31Trustee Fees I I I -1 2,7001 1 -1 -1 -1 1 I I 2.700
5p ice ent of Debt I I I I 233.4381 I I I I I I I 233,438
ISe
9 Professional Services I I
10I1'rofessional Services I I I I 1,3001 I I I I I I I 1,300
38IAnnual Audit and I I I I 5,000 I I I I I I 5,000
Reporting
. Projects
Bond I I
51 ISERAF Loan LMIHF- I I I I 50,0001 I I I I I I I 50,000
Reserve
-53IAdministrative Expenses I 13,0001 I I I I I I I
A B AO AP I AQ AR. I AS I AT I AU I AV I AW I AX I AY
n June21-22A(July-December) I' 22-23A JulYB
Fund Sources I Fund Sources I Fund S,
Item# Prot Obl gationDebt Admin RPTTF I Bond Proceeds I Other Funds I RPTTF I Admin RPTTF I Bond Proceeds I Other Funds I RPTTF I Admin RPTTF Bond Proceeds I Other Funds
000'I$ I$ - _.. I$ I$.. 1:$ I'$ :-•c l`$ 56-,300 I$ ....,..'5,000 1$...._. I$...
112011 A Tax Allocation I I I I I I I
2I B Tax Allocat
Bond
I 1
31Trustee Fees I II I I I I I I I I I
SISev Service
ent of Debt I
Trofessional Services
10IProfessional Services I I I I I I I I 1,300I I I
38IAnnual Audit and I I I I I I I I 5,OOOI
Reporting
41IABS Bond
Projects I
511SERA Reserve
LMIHF- I 50.0001 I I
53IAdministrative Expenses I 13,OOOI I I I I I I I 5,OOOI I
}
A I B I AZ I BA I BB BC BD I BE I BF I BG I BH I BI I BJ I BK
-December) _ 2223B(January June) 23-24A(Ju1y-December)-:: ';' 23.-24B(Ja
kurces I Fund Sources I Fund Sources I Fund
Item# ProjectObl gat Debt
ion I RPTTF I Admin RPTTF I Bond Proceeds Other Funds I RPTTF I Admin RPTTF I Bond Proceeds I Other Funds I RPTTF I Admin RPTTF I Bond Proceeds I Other Funds
$ .:.:,.. -�.$_-__ I$..........:56,300 1$.::.',` 5,000:1$.. .._.I'$ ---1$ .-
I- 112011 A Tax Allocation I I I I I I I I I I I I
2I220on11 B Tax Allocation I I
31Trustee Fees I I I I I I I I I I I I
5 Repayment of Debt I I
Service
Trofessional Services
10IProfessional Services I I I I I 1.300I I I I I
38IAnnual Reportinyuditand I I I I 5,OOOI
41IABS Bond
Projects I I
51ISERAF Loan LMIHF- I I I I I 50.0001 I I I I I I
53IAdministrative Expenses I I I I I I 5.000I I I I I I
A B BL BM BN BO BP BO BR BS BT BU BV BW
Hoary June) = - MmM(July:December)` 24 25B(Januar)r'1June) 2&26A(July
Sources I Fund Sources I Fund Sources I Fund;
Item# Prot Obl gationDebt I RPTTF I Admin RPTTF I Bond Proceeds I Other Funds I RPTTF I Admin RPTTF I Bond Proceeds Other Funds I RPTTF I Admin RPTTF I Bond Proceeds I Other Funds
I I li$... .- 'S6?300.I'$ . :5;000:1$ I$' I$ _ I$ .. .. b$•::.;,.,.. .. $_ ,;<-.56'.300.I"$-_,-.: -5,000.1.$ ....,,I$
I 112011 A Tax Allocation I I I I I I I I I I I I
22 111 B Tax Allocation I I
1Bond
31Trustee Fees I I I I I I I I I I I I
51Repayment of Debt I I
Service
9lProfessional Services I
10I1'rofessional Services I 1,300I I I I I I I I 1,300I I I
38IReporlll Audit and I 5,OOOI I I I I I 5.0001
41I2011A TABS Bond I I
Projects
511SERAF Loan LMIHF- I 50,OOOI I I I I I I I 50.0001
Reserv53IAdministrative Expenses I -I 5.0001 I I I I I I I 5,OOOI I
A B BX BY BZ CA CB cc CD CE CF CG CH CI
-December) 25 26B(January,-June) 26-27A(July-December) 26-27B,(Jain
Iiiources I Fund Sources I Fund Sources I Fund S,
Project Name/Debt I I
Item# Obligation RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds
I I I$ I$ r$.; . ._ v:..::.1$.._=- ..:.:.:-1$ :,Sa 36°I'$ :.,...a,olio l$....... -Is -Is :. ..-I-$. ......1,$ .-- ..:.>.:',1$
I 112011 A Tax Allocation I I I I I I I I I I I I I
2I2011 B Tax Allocation I I I
Bond
31Trustee Fees I I I I I I I I I I I =1 I
51Repayment of Debt I
Service
9lProfessional Services I
10 Professional Services — 1,300
I`I I 1 I I I I I 1
38IAnnual Reportinguditand I I I I I 5,000I
41IProj ctsABS Bond I I
51ISERAF Loan LMIHF- I I I I I 48,6361
Reserve
53IAdministrative Expenses I I I I I I 5,OOOI I I I I I
A B. CJ CK CL cm CN CO CP � CQ � CR � CS � CT
e 27-28A(JulY-December) 2 - B Janua
rY-Ju )ary Ju
urces I Fund Sources I Fund Sources
Project Name/Debt
Item# Obligation RPTTF I Admin RPTTF I Bond Proceeds Other Funds I RPTTF I Admin RPTTF I Bond Proceeds I Other Funds I RPTTF Admin RPTTF I Bond Proceeds
6,300:1$ 1'.000'.I$ .. I$ I$ - L$ I$ :..:..: _I$ I$; 6,300 1.$':_., 1.000.1
112011 A Tax Allocation I I I I I I I I I I I
212011 B Tax AllocationBond
I
I 31Trustee Fees I I I I I I I I I I I
_ 51Repayment of Debt I
Service
I.Professional Services
10IProfessional Services I 1,300I I I I I I I I 1,300I I
38IReporl Audit and I 5,OOOI I I I I I I I 5,000
41IABS Bond
Projects I
ISERAF
e Loan LMIHF- I
53IAdministrative Expenses I I 1.0001 I I I I I I I 1,OOOI
A B CU CV CW CX CY CZ DA DB DC DID DE DF
28-29A(July-December) 28-29B,(January_ June) 29=30A'(July-December)
Fund Sources I Fund Sources I Fund Sources
Project Name/Debt
Item# Obligation Other Funds RPTTF I Admin RPTTF I Bond Proceeds I Other Funds I RPTTF I Admin RPTTF I Bond Proceeds I Other Funds I RPTTF Admin RPTTF I Bond Proceeds
I$ I$ - I$ f$' -:....,.=F$ 1$ :..:..:-6;300'I$.....r 1,000-1-$.... Lg. 1g 1$ L$
I 112011 A Tax Allocation I I I I I I I I I I I I I
212011 B Tax AllocationBond
I I I
I 31Trustee Fees I I I I I I I I I I I I I
51Repayment of Debt I I
Service
11'rofessional Services I
10IProfessicnal Services I I I I I I 1,3001 I I I I I
38IReportin9uditand I I I I I 5,000I
41IAeS Bond
Projects I
51ISERAF Loan LMIHF- I I
Reserve
53IAdminislrative Expenses I I I I I I I 1,0001
r
A B DG DH DI DJ DK DIL DM DN DO DP DQ DR
29 3QB(January June) WwMA(July-December) 30 31B(January June)
Fund Sources I Fund Sources I Fund Sources
Item# ProjectObI gat Debt
ion I Other Funds RPTTF I Admin RPTTF I Bond Proceeds Other Funds I RPTTF I Admin RPTTF I Bond Proceeds I Other Funds I RPTTF I Admin RPTTF. I Bond Proceeds
1 I,$..::,.. l$.= 6:300,1,$ 1:,000'I$ I$ I$ 1$ - ---- I:$.::. a 1•$.. ::.:.I.$ .6,300'I$ .. -.,. .'1,000 1$
112011 A Tax Allocation I I I I I I I I I I I I
2I22011d B,Tax AllocationBon I I
31Trustee Fees I I I I I I I I I I I I
S Repayment of Debt
ISery a
Trofessional Services I
10IProfessional Services I I 1,3001 I I I I I I I 1,3001
38IAnnual Audit and I I 5,0001 I I I I I I I 5.0001
Reporting
41IProjectsABS Band I I
51IResRe Reserve
LoanLMIHF- I I
53IAdministrative Expenses I I I 1,0001 I I I I I I I 1,0001
A B DS DT DU DV DW DX DY DZ EA EB EC ED
31-32A(July-December) (January June) 32-33A(July-December)
Fund Sources I Fund Sources I Fund Sources
ect
Item# Prot Obl gationDebt Other Funds I RPTTF I Admin RPTTF I Bond Proceeds I Other Funds I RPTTF I Admin RPTTF I Bond Proceeds I Other Funds I RPTTF I Admin RPTTF I Bond Proceeds
1 1$ I$ -I$ I$ :....=J$' ::',._`r_I'$ 6;300I$ `1,000:1$-..." -.1$ $ ------- -I.$."
112011 A Tax Allocation I I I I I I I I I I I
212011 B Tax AllocationBond
I I
31Trustee Fees I I I I I I I I I I I I
5IRepaymentof Debt I I
Service
Trofessional Services
10IProfessional Services I I I I I I 1,3001
38IReporting Audit and I I I I 5,000I
41IProacts
AB9Bond I I
51IReserve
RLoanLMIHF- I I
53IAdministrative Expenses I I I I I I I 1,0001 I
l
` 1
I � �
A I B I EE I EF I EG I EH I El I EJ EK I EL I EM I EN I EO
32 33B,(January June) Y
- _ 33-34A(July-December)' . I `i33 34B. Janua; June
( r )
Fund Sources Fund Sources I Fund Sources
ct
Item# Pro1 Obl gationDebt I Other Funds I RPTTF Admin RPTTF I Bond Proceeds I Other Funds I RPTTF Admin RPTTF I Bond Proceeds I Other Funds I RPTTF I Admin RPTTF
I I f$' 7-..: -:1$ -000 I`$:; ...""1.000 1$ .. I$.. L$ I$ ..... 71$ I$.1... 6,300:.L$...; 1:000.
I 112011 A Tax Allocation I I I I I I I I -1 I I
2I220111 B Tax AllocationBond
I
I 31Trustee Fees I I I I I I I I I I I
SlService Repayment of Debt I
Trofessional Services
10I1'rofessional Services I I 1,300I I I I I I I I 1,300I
38IReporllA9uditand I I 5,OOOI I I I I I 5,000
41IProjectsABS Band I
ISERAF
e Loan LMIHF- I
53IAdministrative Expenses I I I 1,OOOI I I I I I I I 1,000
A B IP
Project Name/Debt
Item# Obligation Total -
- I$- 19.266,278
112011 A Tax Allocation 1 $ 11853.652
212011 B Tax Allocation $ 4,438,214
Bond I•
31Trustee Fees 1 $ .. 5,400
51Repayment of Debt I $ 466,876.
Service
911'rofessional Services ( $
1011'rofessional Services I $ : 19,500
' 38IReporl Audit and I. $. :75,00.0
41I2011A TABS Bond I $
-Projects
51ISERAF Loan LMIHF- I $__ _ 348,636
Reserve
53IAdministrative Expenses I $ 59,000
., STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO )
CITY OF GRAND TERRACE )
Debra L. Thomas, City Clerk of the CITY OF GRAND TERRACE, CALIFORNIA,
DO HEREBY CERTIFY that the foregoing Resolution, being Resolution No. SA 2019-02
was duly passed, approved and.adopted.by the Successor.Agency to the Community
Redevelopment Agency of the City of Grand Terrace, approved. and signed by the
Chair, and attested by the Agency Secretary, at the regular meeting of said Successor
Agency to the Community Redevelopment Agency of the City of Grand Terrace held on
the 28th day of May 2019, and that the same was passed and adopted by the following
vote:
AYES: Board Members Allen, Hussey, Robles; Vice-Chair Wilson; Chair
McNaboe
NOES: None.
ABSENT: None.
ABSTAIN: None.
Executed this 29th day of May 2019, at Grand Terrace, California.
Debra L. Thomas
City Clerk =
[SEAL]