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E. The ROPS (Exhibit A) and Budget (Exhibit B) for the July 1, 2013 through December 31, 2013 period were approved by the Oversight Board and are now being presented for Successor Agency approval. Based on the DOF instructions, the DOF is allowing the Oversight Board/Successor Agency to include previously disputed items on this ROPS. These disputed items are included as directed in the "Notes" section of the form provided by DOF. F. Following action by the Successor Agency, the ROPS and Budget will be forwarded to the DOF and county auditor-controller as required by AB 1484. G. Pursuant to AB 1484, Health and Safety Code Section 34177(m), this approved ROPS must be submitted to the DOF and county auditor-controller no fewer than 90 days before the date of property tax distribution, or the Successor Agency/City will be subject to severe financial penalties. H. 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. Despite this language, the Dissolution Act (as amended by AB 1484) also provides for the withholding and diversion of sales tax and property tax revenues otherwise due to the City in order to recover certain expenditures deemed to have been improperly made by the former Agency; however this offset is inapplicable to the present actions, and there are various lawsuits, including one filed by the League of California Cities, that are challenging the constitutionality of the sales and property tax off-set penalties to cities. Section 2. The Successor Agency approves the Recognized Obligation Payment Schedule, attached hereto as Exhibit A and incorporated herein by this reference, which establishes those obligations which the Community Redevelopment Agency of the City of Santa Ana has binding commitments that it has entered into and includes legal commitments that it is obligated to perform from July 1, 2013 through December 31, 2013, in order to meet the pre- existing commitments of contracts and obligations that were established prior to the effective date of the Dissolution Act. Section 3. Pursuant to the Dissolution Act, the Successor Agency approves the proposed Administrative Budget, attached hereto as Exhibit B and incorporated herein by this reference. Following action by the Successor Agency, the ROPS and Budget will be forwarded to the DOF and the county auditor-controller 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. Resolution No. 2013-001 Page 2 of 3