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OSB 13-001RESOLUTION NO. OSB 13 -001 A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE POWAY REDEVELOPMENT AGENCY APPROVING THE INDEPENDENT ACCOUNTANT'S REPORT ON APPLYING AGREED -UPON PROCEDURES RELATING TO THE DUE DILIGENCE REVIEW IN ACCORDANCE WITH AB1484 APPLIED TO THE SUCCESSOR AGENCY FOR THE YEAR ENDED JUNE 30, 2012 WHEREAS, Health and Safety Code (H &S) Section 34179.5(a) requires each Successor Agency to employ a licensed accountant to conduct a due diligence review to determine the unobligated balances available for transfer to taxing entities; and WHEREAS, the Successor Agency retained the accounting firm of Pun and McGeady to conduct the required review, with the approval of the County Auditor and Controller on August 23, 2012; and WHEREAS, Pun and McGeady has completed its review, and, as required by H &S 34179.6(a), the results of the review were provided to the Oversight Board, County Auditor and Controller, State Controller, and State Department of Finance on December 17, 2012; and WHEREAS, on January 9, 2013, the Oversight Board held a public meeting, at which time it received the Independent Accountant's Report and convened a public comment session as required by California Health and Safety Code Section 34179.6(b). NOW, THEREFORE, BE IT RESOLVED that the Oversight Board to the Successor Agency of the Poway Redevelopment Agency approves the Independent Accountant's Report on applying Agreed -Upon Procedures Relating to the Due Diligence Review in accordance with AB1484 applied to the Successor Agency for the year ended June 30, 2012 PASSED, ADOPTED AND APPROVED by the Oversight Board to the Successor Agency of the Poway Redevelopment Agency at a special meeting thereof this 15th day of January, 2013. Bruce Tarzy, 'Chair ATTEST: AM Kristen M. Crane Interim City Clerk City of Poway Resolution No. OSB 13 -001 Page 2 STATE OF CALIFORNIA ) SS. ) COUNTY OF SAN DIEGO ) I, Kristen M. Crane, Interim City Clerk of the City of Poway, do hereby certify, under penalty of perjury, that the foregoing Resolution No. OSB 13 -001 was duly adopted by the Oversight Board to the Successor Agency of the Poway Redevelopment Agency at a meeting of said Board held on the 15th day of January 2013, and that it was so adopted by the following vote: AYES: FONG- SAKAI, LADERMAN, LYON, SCOTT, TAM, TARZY NOES: NONE ABSENT: THOLANDI DISQUALIFIED: NONE 1� v #- (0,#A) Kristen M. Crane Interim City Clerk City of Poway