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are limited by the amount of property taxes and the value of assets it receives in its role <br />as the Successor Agency. <br />Section 2. The attached Amended Recognized Obligation Payment Schedule (Exhibit <br />A) establishes those obligations which the Community Redevelopment Agency of the City of <br />Santa Ana has binding commitments that it has entered into and includes legal commitments <br />that it is obligated to perform, to meet the pre - existing commitments of contracts and obligations <br />that were established prior to the effective date of ABX1 26. <br />Section 3. The City Manager, or his /her designee ( "City Manager"), is directed to file <br />this Amended Recognized Obligation Payment Schedule in the manner required by law. <br />Section 4. The City Manager and /or the Director of Finance, or their respective <br />designees, as delegated officials of the City acting as Successor Agency, are authorized to <br />make any augmentations, modifications, additions, or revisions as may be necessary to the <br />Amended ROPS, and as may be amended from time to time, based upon review by the State <br />Department of Finance or the independent auditor selected by the County of Orange. <br />Section 5. This Resolution shall take effect immediately upon its adoption by the City <br />Council acting as the Successor Agency, and the Clerk of the Council shall attest to and certify <br />the vote adopting this Resolution. <br />Resolution No. 2012 -002 <br />Page 2 of 3 <br />