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RECOGNIZED OBLIGATION PAYMENT SCHEDULES (ROPS)

THE CITY OF CAMARILLO AS SUCCESSOR AGENCY

On December 29, 2011, the California Supreme Court upheld ABx1 26 with modified dates, and overturned and invalidated ABx1 27; which in effect abolished redevelopment agencies in California effective February 1, 2012.

In accordance with ABx1 26, in January 2012, the Camarillo City Council elected to serve as the Successor Agency to the Camarillo Community Development Commission for redevelopment purposes and to have the City retain the housing assets and functions previously performed by the Camarillo Community Development Commission.

ROPS is a schedule of obligations that may include: bonds, loans required to be repaid following a payment schedule that includes required terms of repayment; mandatory payments by the federal government; existent obligations to the state or obligations set by state law; settlements or binding judicial decisions that bind the Agency; legally binding and obligatory agreements or contracts; necessary contracts or agreements in order to continue administration or procedures of the Agency. 

Each Successor Agency is responsible for preparing a ROPS in a manner provided by Finance, listing the enforceable obligations of the former RDA and their source of payment. ROPS are subject to the approval of the local Oversight Board.

Recognized Obligation Payment Schedules (AB 1X 26)