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loan terms. Successor Agency action is required to follow Oversight Board action <br />pursuant to Section 34180. <br />F. The Successor Agency and Oversight Board previously recognized and <br />approved the existing Supplemental Education Revenue Augmentation Fund (SERAF) <br />and Education Revenue Augmentation Fund (ERAF) loans as part of the Recognized <br />Obligations Payment Schedules (ROPS); and are concurrently considering the subject <br />loans as part of ROPS 13-14A. <br />Section 2. The Successor Agency hereby resolves and orders that the amount loaned <br />by the former Community Redevelopment Agency of the City of Santa Ana from the South Main <br />Commercial Corridor Fund be repaid to the Successor Agency for utilization for public <br />improvements within a specified area as prescribed in the Stipulated Judgment dated March 2, <br />1984 for the South Main Street Redevelopment Project [Peebler et al. v. City of Santa Ana, <br />Orange County Superior Court (1982) Case No. 38 58 59)] per the attached repayment <br />schedule, attached hereto as Exhibit A and incorporated herein by this reference, and be <br />included on future Recognized Obligation Payment Schedules. <br />Section 3. The Clerk of the Council shall certify to the adoption of this Resolution. <br />ADOPTED this 19th day of February 2013. <br />APPROVED AS TO FORM: <br />Sonia R. Carvalho, City Attorney <br />By:` ?. <br />Lisa E. Storck <br />Assistant City Attorney <br />YES: Councilmembers: Amezcua, Benavides, Martinez, Reyna, Pulido, <br />(5) <br />NOES: Councilmembers: None (0) <br />ABSTAIN: Councilmembers: None (0) <br />NOT PRESENT: Councilmembers: Sarmiento, Tinaiero (2) <br />Resolution No. 2013-003 <br />Page 2 of 3