Laserfiche WebLink
<br />-31- <br />(iii) amounts due to the 2018 Insurer or any other issuer of a Qualified <br />Reserve Account Credit Instrument hereunder or under an insurance or surety <br />bond agreement, <br /> <br />in each annual Recognized Obligation Payment Schedule so as to enable the <br />Alameda County Auditor-Controller to distribute from the Redevelopment Property <br />Tax Trust Fund to the Successor Agency’s Redevelopment Obligation Retirement <br />Fund on each January 2 and June 1 amounts required for the Successor Agency <br />to pay principal of, and interest on, the Bonds coming due in the respective <br />subsequent six-month period and to pay amounts owed to the 2018 Insurer or any <br />other issuer of a Qualified Reserve Account Credit Instrument, as well as the other <br />amounts set forth above. <br /> <br />These actions will include, without limitation, placing on the periodic Recognized <br />Obligation Payment Schedule for approval by the Oversight Board and State Department of <br />Finance the amounts to be held by the Successor Agency as a reserve until the next six-month <br />period, as contemplated by paragraph (1)(A) of subdivision (d) of Section 34171 of the Dissolution <br />Act, that are necessary to comply with this Indenture. <br /> <br />In addition, amounts received by the Successor Agency on the June 1, 2018 distribution <br />date that otherwise would have been applied to the payment of debt service on the 2008 Bonds <br />or reserved for such purpose, being $___________, will be applied as provided in Section 4.03 <br />hereof. Any of such amounts so deposited in the Debt Service Fund not required to be deposited <br />in the Interest Account or the Principal Account in connection with the payment of debt service on <br />the 2018 Bonds on the Interest Payment Date of September 1, 2018 pursuant to the terms of said <br />Section 4.03 shall be retained in the Debt Service Fund and deposited in the Interest Account in <br />connection with the Interest Payment Date of March 1, 2019 for payment of debt service on the <br />2018 Bonds pursuant to the terms of said Section 4.03. <br /> <br />(b) Amendment to ROPS Commencing with 2018A-19B ROPS. In particular, the <br />Successor Agency shall, not later than _______, 2018, submit to the State Department of Finance <br />and to the Alameda County Auditor-Controller an Oversight Board-approved amendment to the <br />Recognized Obligation Payment Schedule previously submitted by the Successor Agency <br />relating to the June 1, 2018 and January 2, 2019 disbursement dates, amending the amounts to <br />be distributed on [January 2, 2019 and June 1, 2019] to include all amounts that, together with <br />other amounts on deposit in the Redevelopment Property Tax Trust Fund reserved for payment <br />of debt service on the 2018 Bonds and any Parity Debt or on deposit in the Debt Service Fund or <br />in the special fund relating to such other debt, are sufficient for the payment of debt service on <br />the 2018 Bonds and any Parity Debt on September 1, 2019. <br /> <br />(c) Requirements Regarding ROPS Commencing with 2019A-20B ROPS. Not later <br />than February 1, 2019 and each February 1 thereafter (or at such other time as may be required <br />by the Dissolution Act) for so long as any of the Bonds or any Parity Debt remain outstanding, the <br />Successor Agency shall submit to the State Department of Finance and to the Alameda County <br />Auditor-Controller an Oversight Board-approved Recognized Obligation Payment Schedule that <br />provides for the distribution of the following amounts: <br /> <br />(A) for distribution on each January 2 (commencing January 2, 2020): <br /> <br /> (i) all interest coming due and payable on the Bonds and any Parity Debt, <br />on the next succeeding March 1 and September 1, and <br />457