Item Coversheet
ADMINISTRATIVE REPORT
MEETING DATE:  2/3/2021Consent - Successor Agency Business 1. 
TO:Honorable Mayor and City Council
FROM:Randy McKeegan, Finance Director
DATE:1/22/2021
WARD: 
SUBJECT:Receive and file Successor Agency payments from January 8, 2021, to January 21, 2021, in the amount of $184,428.97.
STAFF RECOMMENDATION:

Staff recommends report be received and filed.
BACKGROUND:

The City administers payment of Successor Agency enforceable obligation payments as authorized by the State Department of Finance (DOF) to further the dissolution of the former Bakersfield Redevelopment Agency. The Successor Agency has a Recognized Obligation Payment Schedule (ROPS) approved by both the Bakersfield Oversight Board and the DOF. All payments of the Successor Agency must be on this approved listing in order to be valid and authorized payments of the Successor Agency.

 

A check register is provided which summarizes the transactions processed during the above referenced period. Additional details are provided below for each transaction.

 

Check #9995723 to U S Bank CR:US Bank Trust NA for $107,225.62 is an interest payment on IBank Loan Sales Agreement #CIEDB-B08-083, Payment approved as ROPS 20-21B, line item #18.

 

Check #9995725 to U S Bank Trust for $77,203.35 is an interest payment on tax allocation bonds, Series 2009A & B. Payment approved as ROPS 20-21B, line item #6 & #17.


ATTACHMENTS:
DescriptionType
1-Check Register Admin SA Pymnts 02-03-2021Backup Material