RESOLUTION NO. 2016 -OB -01

A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR

AGENCY TO THE FORMER RANCHO MIRAGE REDEVELOPMENT

AGENCY APPROVING AND ADOPTING A RECOGNIZED

OBLIGATION PAYMENT SCHEDULE AND ADMINISTRATIVE

BUDGET FOR FISCAL YEAR 2016-2017 PURSUANT TO HEALTH

AND SAFETY CODE, DIVISION 24, PART 1. 85, AND AUTHORIZING

THE POSTING AND TRANSMITTAL THEREOF

WHEREAS, the City of Rancho Mirage (" City") agreed to serve as the successor

agency (" Successor Agency") to the former Rancho Mirage Redevelopment Agencythe " RDA") commencing upon the dissolution of the RDA on February 1, 2012 pursuant

to Assembly Bill A 26 ("AB 26"); and

WHEREAS, on June 27, 2012 as part of the Fiscal Year 2012-2013 State budget

bill, the Governor signed into law Assembly Bill 1484 (" AB 1484") which modified some

of the provisions of AB 26, including Health & Safety Code Section 34177(m) whichrequires that the Recognized Obligation Payment Schedule (" ROPS") for Fiscal Year

2016-2017 be approved and submitted by the Successor Agency and its oversightboard (" Oversight Board") to the County Auditor -Controller and Department of Finance

DOF") by no later than February 1, 2016. AB 26 and AB 1484 shall be collectivelyreferred to herein as the "Dissolution Act;" and

WHEREAS, on January 14, 2016 the Successor Agency adopted Resolution No. 2016 -SA -01 approving the ROPS for Fiscal Year 2016-2017 (" ROPS 16- 17") and the

proposed administrative budget pursuant to Health and Safety Code Section 34177( 1); and

WHEREAS, the Oversight Board has received, reviewed and desires to approve

the ROPS 16- 17 attached hereto as Exhibit " A" and incorporated herein by thisreference, and the Successor Agency's proposed administrative budget ("Administrative

Budget") covering the Fiscal Year 2016-2017 as presented in ROPS 16- 17, and desiresto authorize the Successor Agency to post the ROPS 16- 17 on the City's ( as SuccessorAgency) website and to transmit them to the Riverside County Administrative Officer, the Riverside County Auditor Controller, the DOF, and the State Controller's Office.

NOW, THEREFORE, THE OVERSIGHT BOARD OF THE SUCCESSOR

AGENCY TO THE FORMER RANCHO MIRAGE REDEVELOPMENT AGENCY DOES

HEREBY RESOLVE AS FOLLOWS:

Section 1. Recitals.

That the Recitals set forth above are true and correct and incorporated herein byreference.

Section 2. Approval of ROPS 16-17.

That the Oversight Board hereby approve and adopt the ROPS 16- 17, whichshall be submitted to the DOF on the preferred forms provided by the DOF.

Section 3. Approval of Administrative Budget.

That the Oversight Board hereby approve and adopt the Administrative Budget, which shall be submitted to the DOF on the preferred forms provided by the DOF.

Section 4. Transmittal.

That the City Clerk, on behalf of the Oversight Board, is hereby authorized anddirected to transmit the ROPS 16- 17 and the Administrative Budget to the Riverside

County Administrative Officer, the Riverside County Auditor Controller, the DOF, andthe State Controller's Office, and that the City Manager, acting for the SuccessorAgency, is hereby directed to post a copy of the ROPS 16- 17 on the City's ( as

Successor Agency) website and take whatever additional actions necessary pursuant tothe Dissolution Act.

Section 5. Repeal of Conflicting Provisions.

That all the provisions heretofore adopted by the Oversight Board that are inconflict with the provisions of this Resolution are hereby repealed.

Section 6. Severability.

That if any provision of this Resolution or the application thereof to any person orcircumstance is held invalid, such invalidity shall not affect other provisions orapplications of this Resolution which can be given effect without the invalid provision or

application, and to this end the provisions of this Resolution are severable. The

Oversight Board hereby declares that it would have adopted this Resolution irrespectiveof the invalidity of any particular portion thereof.

Section 7. City Clerk Acting for Oversight Board.

That the City Clerk acting for the Oversight Board shall certify to the passage ofthis Resolution and enter it into the book of original resolutions and take any otheractions and/ or perform any other duties required by law.

Section 8. Effective Date.

That this Resolution shall take effect immediately upon adoption.

REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

PASSED, APPROVED AND ADOPTED this 26th day of January, 2016.

OVERSIGHT BOARD OF SUCCESSOR

AGENCY TO THE FORMER RANCHO

MIRAGE REDEVELOPMENT AGENCY

Patrick M. Pratt

Oversight Board Chair

ATTEST:

Cynthi Scott, City ClerkActing on Behalf ofSuccessor Agency's Oversight Board

NARNCH\001 -21 \ DOC\5003 - OB Resolution ROPS 16- 17 ( 01. 15. 16). Doc

CERTIFICATION

STATE OF CALIFORNIA

COUNTY OF RIVERSIDE

CITY OF RANCHO MIRAGE

I, Cynthia Scott, City Clerk Acting on Behalf of Successor

Agency' s Oversight Board for the City of Rancho Mirage, California,

do hereby certify that Resolution No. 2016 -OB - 01 was duly adoptedby the Successor Agency' s Oversight Board at a meeting thereof heldon the 26th of January, 2016 by the following vote:

AYES: Arthur, O' Dowd, Howell, Nichols, Pratt, Smith

NOES: None

ABSENT: Tenorio- Wilson

ABSTAIN: None

CyntViia Scott, City Clerk

Acting on Behalf of

Successor Agency' sOversight Board

EXHIBIT "A"

RECOGNIZED OBLIGATION PAYMENT SCHEDULE

FOR FISCAL YEAR 2016-2017

SEE ATTACHED]

Recognized Obligation Payment Schedule (ROPS 16-17) - SummaryFiled for the July 1, 2016 through June 30, 2017 Period

Successor Agency: Rancho Mirage

County: Riverside

ROPS 16- 17

Current Period Requested Funding for Enforceable Obligations (ROPS Detail) 16-17A Total 16- 17B Total Total

Enforceable Obligations Funded with Non -Redevelopment Property Tax Trust Fund ( RPTTF) FundingA Sources (B+ C+ D): $ 5,830,000 $ 4,812,500 $ 10,642,500

B Bond Proceeds Funding

C Reserve Balance Funding

D Other Funding

E Enforceable Obligations Funded with RPTTF Funding ( F+ G):

F Non -Administrative Costs

G Administrative Costs

H Current Period Enforceable Obligations (A+E):

Certification of Oversight Board Chairman:

Pursuant to Section 34177 (o) of the Health and Safety code, hereby certify that the above is a true and accurate RecognizedObligation Payment Schedule for the above named successor

agency. s/

5,830,000 1, 950,000

2,862,500

7,780,000

2,862,500

6, 389,869 $ 5,333, 318 $ 11, 723, 187

6, 139,869 5,234,584 11, 374,453

250,000 98,734 348,734

12,219,869 $ 10, 145,818 $ 22,365,687

Patrick M. Pratt Oversight Board Chair

Rancho Mirage Recognized Obligation Payment Schedule (ROPS 16- 17) - ROPS Detail

July 1, 2016 through June 30, 2017

A B C D E F G H 1 J K L M N O P Q R 5 T U V W

16- 17A 16- 17B

Non-Redexbpmerd Property Tax T1,W Fund WJ Redewlopmerl Properly TaxTrusl FundIN— RP RPTTF onR RPRF

Contract/Agreement Contract/Agreement Total Outstanding ROPS 16- 17 16- 17A 16178Rema Project NameA) ebl Obligaton Obl{gatwn Type Execution Date Tenrimatfon Date P ice Desc iorVPr ' ect Sry a Project Area Debi or Obligation Retired Total Band Proceeds Reserve Bake OmerFuds NorvAdmin Admin Trial Bono Proceeds Reserve Balance Other F" s NmAdmil AOrun Total

180,052.836 S 22.365.687 S 5,830.000 S - S - S 6.139.8" S 250.000 S 12. 219.869 S 1950400 S - S 2.862.500 S 5. 234,564 S 98.7;4 S 10145.8181 Tax Allocaton Bad Serve Fees 1/ 1/ 2001 12/312040 U. S. Ban kAnfil n Financial Debt Service Admebtrabon

L—Iffg-

edl50,000 N 50.000 25 000 S 25000 25 000 S 25 000

2 Tax Allocation Bond Payments - Bonds Issued On or Before 1/ 12001 12/312040 U. S. Bank Bora Payments- Interest 40.017.647 N S 4. 139.507 2251. 936 S 2.251. 936 1, 887. 571 S 1887 571Irleresl 12! 31/ 10

3 Tax AllocatiunBOnd Payments• Bonds lsswc! On or Before 1112001 12/ 312040 U. S- Bank Bond Payments - Principal Merged 00345. 0 N S 4. 330.000- S 2, 165,000 2, 165,000 S 4330.000Prk+dpal 1231110

4 Reserve for next year's debt service Reserves 1172" 1 12/312040 U. S. Bank Reserve for next year's debt seryice to Merged 2.165. 000 N S 2. 165.000 2.165.000 5 2. 165. 000 Sto comply with bond covermnts that compy wEh bond covenants that thethe entire years debt service musl entire year's debt service must be on

be on hand prior to sperdeg lax hand prior to spending tax increment onIncrement on any other obligalions. any other obligations.

5 Housing Arnloriy Loan Repayment - Cty/COuty Loans On or 1212010 6/302015 Rancho Mirage Housing Agency Repayment of SERAF Loan 01 Merged 4. 958.366 N S 540.920 540.92(l S 540.920 SLoanal Before 6127/ 11 Authority from Housog AlAorty(Semi Anrwal

Payments though 0& 30)2015 for

Retirement of Original Loan Amour of

12.583.600)

6 Housing Adhmty Loan Repayment Cty/Courfy Loans On 3, 01,212010 ---- 06r1orlrn6 Rwx:lo MI we 4Guatn4 Agercv Repaymerr of SEP - F LOan42 Merged 836 328L.- Before 627/11 Aumuti t,om.. — ng Atxhertl Se— A—n

j Payments mrougn 0& 3020 6 twIRehrement of On¢ rW Loran Amount 01

132. 590 741)

8 Administrative Cost Reimbursement Admin Costs 7112014 12/312014 City of Rancho Mirage. Reimbursement of Sueessor Agency Merged 348,734 N S 348.734 250.0" S 250.0" 98,734 S 98.734Quettards and Associates, Admiiistrative Costs; knckxlbVVaysinek, TO. Day and supplies, legal, consutarts• awdigvaried for other services service s. and etc.

needed.

14 Property Maitterw c b Disposition Property Disposdbm 1/ 12014 6`302014 Varied- to be determined at Expenses for Dbpodon of Properties Merged Y S S S - Services he line of sok ovine by Successor Agency

16 Parkview Villas Cabinetry OPAIDDAICOnstruclion 7112013 117/312017 Rancho Mirage Housing Parkview Villas Cabinetry Repbcement Mage Y S S SReptarement Authority

21 Horang Tax Allocation Bonds. Bonds Issued On or Before 1112003 12/312040 US Bark Debt Service Requiemeri for the Merge 7.012.261 N S 919.026 459.513 3 459.513 459.513 S 459,513Interest 12/31/ 10 Housing Tax Abcalon Bads- interest

22 Hous kg Tax Alocabon Bonds Bonds Issued On or Before 1112003 12/312 US Bar& c040Debi Service Regr - ement for the Merged 18.040,0" N S 1. 395. 0" 5 697, 500 697. 500 S 1395.000PYrnaipal 12/31110 Housing Tax Abcation Bonds

Pry dpal

23 Reserve for next year' s debt service Reserves 1/ 12003 12!312040 US Bank Reserve for next years debt service 10 Merged 697.5" N S 697.5" 697.5" S 697.500 Sto comply wih bond covenants that comply with bond covenants that thethe entie years debt service must entire years debt service must be on

be on hard prior to spending tax hand prior t0 spending lax increment onincrement on any other obligations. any other obligations.

30 Thee Major Intersection Capacity ImprovemenlMfrastruclure 1112014 121312018 City of Rancho Mirage ConslnWon of fine Majorintersection Merged 2.250.0" N S 1. 5". o" 8" 000 S 8100. 000 700 0" S 700.000improvements. CP 12- 270- 110 Capacity Improvements, CP 12270- I I I1lo3

31 Thee Major ltersectom Capacity Protessbeal Services 1/ 12014 12/312018 City of Rancho Mirage Design work of three ajor Intersection Merged 150.0" N S 1". 0" 1", 0" S 1". 000 S _ Improvements, CP 12. 270. 1103 Capacity tmprovememMs, CP 12-270- 2-270.

11031103

32 Gerald FOrd/DaVall Intersection ImprovemertMfrastr ctue 1/ 12014 12r3112018 City of Rancho Mirage Consindion of Gerald FadlDaVat Merged Y 5 SS

Right Tum Lanes, CP 12. 272 Iriersedan Right Tum Lanes, CP 12•

272

33 Gerald Fad/DaVall i4erseclon Professional Services 1/ 1/ 2014 17/512018 City of Rancho Mirage Design work Gerald FadrDaVa1 Merged Y S S

Right Tum Lanes, CP 12- 272 Intersection fthl Tum Lanes. CP 12- I I I272

34 Frank Sinatra AN Weather Bridge. Improvemenl/infiasiructure 1/ 12014 12/312018 City of Rancho Mirage Construction of FraNe Sinatra All Merged Y

I I IS

CP 12-269 Weather Bridge. CP 12- 269

35 Frank Sinatra At Weather Bridge, Professional Services 1/ 12014 12312018 City of Rancho Mirage Design work Frar* Shaba Al Weather Merged Y

I I IIs

CP 12-269 Bridge. CP 12- 269

42 Cty-Wide Missing Cass 1 Bice Path Improwment/ Inhaslruclure 1/ 12014 121.12018 City of Rancho Mirage Construction of Cty-Wde Missing Merged

IY

I I IS

Links. CP 12- 280 Cass 1 Bice Path Links. CP 12.280

43 Cly Wlde Missing Cass 1 Bice Path Professional Services 1112014 121.12018 City of Rancho Mirage Design work CtyWge Mtsskg Class 1 Merged Y

I I IIS S

Links. CP 12-280 Bike Path Uinks . CP 12-280

44 Bob Hope Drive Storm Drain- ImprovementAnfrasimctue 1/ 12014 121312018 City of Rancho Mirage Construction of Bob Hope Drive Storm Merged Y S - SS

Codry Club to Wash Drag Country Cub to Wash45 Bob Hope Drive Storm Drain Professional Services 1112014 12/312018 City of Rancho Mirage Design vwrk Bob Hope Drive Storm Merged 400,000 N S 400.

0001200.

0001 I IS 200.000 200.0" S 2000"

C outny Club t0 Wash Drake Coutry Cub to Wash

46 COWry Club Drive Storm Drain, ImprovemenNnhasbucture 1112014 17!312018 City of Rancho Mirage Construction of Country Cub Drive Merged

IY S

Sand Dune to Bob Hope Storm Drawl Sall Dune t0 Bob Hope

47 Country Club Drive Storm Drain, Professional Services 1112014 12/312018 City of Rancho Mirage Design work Cour" Cub Drive Slum Merged Y

I I I IS

S - Send Dune l0 Bob Hope lDrain. Sand Dune to Bob Fbpe

48 Highway 111 Street Reconstruction, Improvemerownfraslructue 1112014 12/312018 City of Rancho Mirage 1Condruclon of Higfrvray 111 Streit Merged 400.000 N S 400.0001 400,0" S 400,0" S

Bob Hope l0 City Lint Reconstruction. Bob Hope l0 City Lant 1 1

Rancho Mirage Recognized Obligation Payment Schedule (ROPS 16. 17) - ROPS Detail

July 1, 2016 through June 30, 2017

Report Amounts in Whole Dollars/

A 8 C D E F G H 1 J K L M N O P O R 5 T U V W

16- 17A 16- 17B

N- Redevelopmerd Property Tax Trus/ Fund Non -Redevelopment Property TaxTrusl FulN- RPTTF RPTTF Mon-R RP71F

CorsracUAgreemem ContracUAgieemerd Total Outstanding ROPS 1617 16- 17A 16178tem >L Prdecl Name/Debt Obigation obigauon Type Execution Dale Termination Date Payee DescnplanVProjecl Scope Project Area Debtor OlAgal- Retired Total Bond Proceeds Reserve Balance Other Funds Non -Admit admit) Total Bond Proceeds Reserve Balance Other Funds Nomadmn Aaron Total

49nHghway 111 Street RecorWrudion, Professional Services 1/ 12014 12/ 312018 City of Rancho Mirage Design work Highway 111 Street Merged Y

Bob Hope to City Limit Reconstruclion, Bob Hope to City limit

50rMagnesia Fels Drive Street& Curbs Improvementlnfrasbucture 1/ 12014 12312018 City of Rancho Mirage of Magnesia Fals Drive Merged 600,000 N 600, 000 300.000 S 300,000 300,000 300.000Reconstruction, 111 to Joshua Road

Sorolmclionneel 8 Curbs Reconstruction, 111 to

Joshua Road

51 Magnesia Fels DriveProfessional Services 1112014 12/312018 City of Rancho Mirage work Magnesia Falls Drive

ReetMerged 40,000 N 40.000 40,000( 40.000

to Joshua Road

ReconJoshua Curbs econstructions toIDRid

52 Verbenis Road Street ImprovemeMMfrastiuclve 1112014 12312018 Ctry of Rancho Mirage Consfnction of Verbenda Road Street Merged Y

Reconstruction, Chola to Monterey Reconstrulion, Chola to Monterey53 Verbena Road Street Professional Services 1112014 12/ 5112018 City of Rancho Mirage Design work Verbena Road Street Merged Y S

Recomlruction. Cholla to Monterey Recorutrullon. Cholla to Monterey54 Cholla Lane Street Reconstruction, Improvemenlllnhaslrrclue 1/ 12014 1213112018 City of Rancho Mirage Conslnxtion of Chola Lane Street Merged Y

Verbena to Country Club Reconstruction, Veibenda to CountryClub

55 Cholla Lane Street Reconslnuction, Professional Services 1112014 12! 512018Cly of Rancho Mirage Design work Chose Lane Street Merged Y

Verbena to CountryClubReconstnctron. Verbenia to CountryClub

SIADA Access Ramp Modification to Improwe ntllnfmstruchre 1112014 12/ 312018 Ciy of Rancho Mirage Construction of ADAAccess Ramp Merged 400. 000 N $ 100.000 300.000 $ 300. 000 100.000 100000Meet Curren Code Modification to Meet Current Code

581ADA Access Ramp Modification to Professional Services 1112011 12/ 312018 City of Rancho Mirage Design work ADA Access Ramp Merged 40.000 N S 10.000 40,000 S 10.000 SMeal Current Code I Modifrcalion to Meet Current Code

591Mrage Estates Pkway Landscepng ImprovemenNnfrasnrelue 1Jl2014 121512018Ciy of Rancho Mrage Conor clbn of Mirage Estates Pkway IMerged Y S

Rehab., Bob Hope at Palm Landscapi g Rehab., Bob Hope atCrest/Pakn Haven Palm CresVPaan Haven

601Ramho Mirage Pubic Library OPA/DDAIConstnMion 1112014 12/ 31/ 2018 City of Rancho MirageLibrary ction

on RanchoPubic Merged Y

Improvement Project

Projectge61 Rancho Mirage Pubic Library Professional Services 1/ 12014 12/ 312018 y of Rancho MirageI 11- nwk Rancho

Wae Public Merged Y

I I $ IImprovement Project improvementg(

62 Rancho Palms Mobile Home Park OPA/DDA/Constr ction 1/ 12011 12312018 Incho Wage Housing Comllrudion on Rancho Palms Moble Merged 400.000 N 400.000 400.000(

I $ 400.000

Ie Park

631Property improvement Program OPAIDDAICorMnrclion 1/ 12014 12012018

1 City of Rancho Mirage 1PPrparty improvementprogram for Imaged 200. 000 N 200.000 100,

0001 I $ 100,000 100.000 180000

businesses &

64, Prbkc Works constnucnaJpmjecl Project Management Costs 1112011 12/ 312018Cly of Rancho Mirageage PubWorks conanxliaVproject 350,000 N 350.000 250,000 5 250.000 100.000 S 180 000management costs for a1 projects management costs for al projects

IMerged

Ihided with bond proceeds. haled with bond proceeds.

65 Rancho Mirage Pubic Library OPP DDA/Comrudion 7/ 12011 121312018Ciy of Rancho Mirage Constr Ilion on Rancho Mirage Pubic Merged 2. 200. 000 N 2. 200.000 2, 000,000( S 2. 000.000 200.000 l 200 0006gransion and Rehabilitation Project Library F anson and Rehabilitation IProject

66 Rancho Mirage Public Library Professional Services 7/ 12014 12/312D18Cly, of Rancho Mirage Design work on Rancho Mirage Public Merged 200.000 N 200. 000 200,000 200.000

F ansion and Rehabilitation Project Library F) samion and RehabilitationProject

Structural and

681PropeOPA/DDAIConslruclion 7/ 12014 12/ 31/ 2018 Mirage Housing 5' ncomee housing

Merged 650,000 N 650.000 550.000 550.000 100,000 100.000q

lmprsIRRaancM

coWModritylI n and

on

69 Whispering Werers Stndunl and OPA/DDAJConstnction 7/ 12DI4 12! 512018 Rancho Mirage Horsing Low/Moderate income housing Merged 100.000 N 100.000 50,000 S 50.000 50,000 50.000Property Improvements Authority improvements. construction and

rehabiltation

70 Saida Rose Vias Structural and 0PA/1) DA1Constrclion 7112014 12!512018Rancho Mrage Housing LovdModerate Income housing Merged 100.000 N 100.000 50,000 50,000 50,000 50.000

Property Improvements horay Improvements, construction and

rehabilitation

71 Jacinto Siructual and OPA/DDA1Construcnon 7112014 12/312018 Mirage Housing LLoowlModarrall5 ncorsmteet bgMerged 100,000 N S 100.0 00 50,000 50.000 50, 50.000Fan

roperly

tprViawovernerris

IRRaanand

rehabilitation

73 Rancho Mirage Community Park OPNDDAIConstrudion 1112015 61302017 City of Rancho Mirage Construction on the Rancho Mirage Merged Y

F amion Project Community Park

74 Rancho Mirage Community Park Professional Services 1/ 12015 61302017 City of Rancho Mirage Design work on the Rancho Mirage Merged Y

F)qpansbn Project Community Park

75 Cost of Issuance for 2016 Bond Professional Services 8/ 12015 6! 5012016 US Bank Cost of Issuance for the 2016 Bond Merged Y

Refunding Plan Rehadng Plan for professionalservices Incurred for Implementing thePlan.

76 N S

77 I I N I I $ 78 N S79 N S

80 N

N

S S

Sg1 S82 I I N I I $ S83 N

84 N S

85 N

N

S - I I s

86

Rancho Mirage Recognized Obligation Payment Schedule (ROPS 16- 17) - Report of Cash Balances

Report Amounts in Whole Dollars)

Pursuant to Health and Safety Code section 34177 ( 1), Redevelopment Property Tax Trust Fund ( RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available

or when payment from property tax revenues is required by an enforceable obligation. For tips on how to complete the Report of Cash Balances Form, see CASH BALANCE TIPS SHEET

A B C D E I F G H I

Fund Sources

Bond Proceeds Reserve Balance Other RPTTF

Prior ROPS

Prior ROPS RPTTF

Bonds issued on period balances distributed as Rent, Non -Admin

or before Bonds issued on and DDR RPTTF reserve for future grants, and

Cash Balance Information by ROPS Period 12/ 31/ 10 or after 01/ 01/ 11 balances retained period( s) interest, etc. Admin Comments

IROPS 15-16A Actuals ( 07/01/ 15 - 12/ 31/ 15)

1 Beginning Available Cash Balance (Actual 07/01/ 15) 21, 660,625 22, 009 718 30, 000 PPA 15,000 for last two ROPS

2 Revenue/ Income (Actual 12/ 31/ 15)

RPTTF amounts should tie to the ROPS 15- 16A distribution from the

County Auditor -Controller during June 201548,499 4,758 8,954, 112

3 Expenditures for ROPS 15- 16A Enforceable Obligations (Actual

12/ 31/ 15) The 12, 814 was due to a shortage in the reserve

fund due to assets being valued at cost. This7, 667, 157 12, 814 6, 016, 980 amount was remitted to US Bank.

4 Retention of Available Cash Balance (Actual 12/31/ 15)

RPTTF amount retained should only include the amounts distributed asreserve for future period( s)

4, 199, 880 2, 962. 500

5 ROPS 15- 16A RPTTF Balances Remaining

No entry required

6 Ending Actual Available Cash BalanceC to G = ( 1 + 2 - 3 - 4), H = ( 1 + 2 - 3 - 4 - 5) I 9, 842,087 9,195 5,4761$ 4,632

IROPS 15- 16B Estimate (01/ 01/ 16 - 06/30/ 16)

7 Beginning Available Cash Balance (Actual 01/ 01/ 16) C, D, E, G = 4 + 6, F = H4 + F4 + F6, and H = 5 + 6)

14,041, 967 2,971, 695 5,476 4,632

8 Revenue/ Income (Estimate 06/30/ 16)

RPTTF amounts should tie to the ROPS 15- 16B distribution from the

County Auditor -Controller during January 2016 35,000 5, 850,644

9 Expenditures for ROPS 15- 16B Enforceable Obligations (Estimate

1 06/30/ 16) 3, 900, 000 2, 962, 500 5, 865,644

10 Retention of Available Cash Balance ( Estimate 06/30/ 16)

RPTTF amount retained should only include the amounts distributed asreserve for future period( s) 1 41199, 880

11 Ending Estimated Available Cash Balance (7 + 8 - 9 - 10) 5, 977,087 1 $ - I $ - Is 9,195 5,476 1 $ ( 10,368)

Rancho Mirage Recognized Obligation Payment Schedule (ROPS 16- 17) - Notes July 1, 2016 through June 30, 2017

Item # Notes/Comments

1 This amount is an estimate. There is no contract dates for column D and E because these costs are tied into the Official Statements for the Bonds.

2& 3 Debt service amounts for the non-housing tax allocation bonds all pre-2011. 4 Debt service reserve for the non- housing tax allocation bonds all pre-2011.

5 Per the DOF letter dated October 3, 2012, these loans were determined to be under health and safety code section 34191. 4. The payment amount represents thegrowth in the residual balance from the base year. The DOF payment calculation excel file has been filled out. We received a Finding of Completion on May 7, 2013. The Oversight Board approved the loans as an enforceable obligation and made findings that the loans were for legitimate redevelopment purposes on September 24,

2013 on Resolution No. 2013-OB- 13.

6 Per the DOF letter dated October 3, 2012, these loans were determined to be under health and safety code section 34191. 4. Therefore, no payment has beenrequested.

8 All administrative costs for the Successor Agency

21 & 22 Debt service amounts for the housing tax allocation bonds all pre-2011. 23 Debt service reserve for the housing tax allocation bonds all pre-2011.

30- 71

These projects are being funded with excess bond proceeds from bonds issued prior to 2011. The Successor Agency received a Finding of Completion from DOF onMay 7, 2013. All projects amounts listed are estimates. All projects are in accordance with the purpose for which the bonds were sold. The payee is listed as the either

the City of Rancho Mirage or the Rancho Mirage Housing Authority (for housing projects). The City and Housing Authority are acting as the project managers and willseek reimbursement for project expense from Successor Agency bond proceeds pursuant to the DOF approved agreements via Resolution No. 2013-OB-20 and 2013- OB- 21.

Project management costs for all projects funded with excess bond proceeds. 64