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commitments of contracts and obligations that were established prior to the effective date of the Dissolution Act. Such approval is conditional upon approval of the Oversight Board. Section 3. Pursuant to the Dissolution Act, the Successor Agency approves the proposed Administrative Budget, attached hereto as Exhibit B and incorporated by this reference. Such approval is conditional upon approval of the Oversight Board. Following action by the Successor Agency, the ROPS and Budget will be forwarded to the Oversight Board, DOF, County and other appropriate entities as required by AB 1484. Section 4. The City Manager, or his/her designee ("City Manager"), is directed to file the Recognized Obligation Payment Schedule and the Administrative Budget in the manner required by law. Section 5. The City Manager and/or the Director of Finance, or their respective designees, as delegated officials of the City acting as Successor Agency, are authorized to make any augmentations, modifications, additions, or revisions as may be necessary to the ROPS or Administrative Budget, and as may be amended from time to time, based upon review by the State Department of Finance or the independent auditor selected by the County of Orange. Section 6. This Clerk of the Council shall attest to and certify the vote adopting this Resolution. ADOPTED this 20th day of August 2012. APPROVED AS TO FORM: Sonia R. Carvalho, City Attorney By:` Lisa E. Storck Assistant City Attorney SA Resolution No. 2012-007 Page 3 of 24