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2021 06 23 SA Special Meeting - ROPS Amend 1SUCCESSOR AGENCY Page 1 of 3 JUNE 23, 2021 SPECIAL MEETING NOTICE AND CALL OF SPECIAL MEETING OF THE SUCCESSOR AGENCY TO THE LA QUINTA REDEVELOPMENT AGENCY TO THE MEMBERS OF THE SUCCESSOR AGENCY TO THE LA QUINTA REDEVELOPMENT AGENCY AND TO THE CITY CLERK/AGENCY SECRETARY: NOTICE IS HEREBY GIVEN that a Special Meeting of the City of La Quinta as Successor Agency is hereby called to be held on Wednesday, June 23, 2021, starting at 5:15 p.m. or shortly thereafter; at La Quinta City Hall located at 78495 Calle Tampico, La Quinta, CA 92253. Pursuant to Executive Orders N-25-20, N-29-20, N-33-20, N-35-20, and N- 60-20 executed by the Governor of California in response to the state of emergency relating to novel coronavirus disease 2019 (COVID-19) and enabling teleconferencing accommodations by suspending or waiving specified provisions in the Ralph M. Brown Act (Government Code § 54950 et seq.), members of the Successor Agency, the Executive Director, Agency Counsel, City Staff, and City Consultants may participate in this special meeting by teleconference. Members of the public wanting to listen to the open session of the meeting may do so by tuning-in live via http://laquinta.12milesout.com/video/live. Members of the public wanting to address the Successor Agency during the meeting, either for a specific agenda item or matters not on the agenda, or both, are requested to follow the instructions listed below: Written public comments – can be provided in-person during the meeting or emailed to the City Clerk’s Office at CityClerkMail@LaQuintaCA.gov no later than 3:00 p.m. on the day of the meeting, and will be distributed to the Successor Agency and incorporated into the agenda packet and public record of the meeting, and will not be read during the meeting unless, upon the request of the Chairperson, a brief summary of any public comment is asked to be read, to the extent the City Clerk’s Office can accommodate such request. If emailed, the email "subject line" must clearly state "'Written Comments" and list the following: 1) Full Name 4) Public Comment or Agenda Item Number 2) City of Residence 5) Subject 3) Phone Number 6) Written Comments *** TELECONFERENCE PROCEDURES *** Verbal public comments via Teleconference - members of the public may loin the meeting virtually via Zoom and use the "raise your hand" feature when public comments are prompted by the Chairperson; the City will facilitate the ability for a member of the public to be audible to the Successor Agency and general public and allow him/her to speak on the item(s) requested. Please note - members of the public must unmute themselves when prompted upon being recognized by the Chairperson, in order to become audible to the Successor Agency and the public. Only one person at a time may speak by teleconference and only after being recognized by the Chairperson. ZOOM LINK: https://zoom.us/j/91648717234 Meeting ID: 916 4871 7234 Or join by phone: (669) 900 - 9128 ****************************** The special meeting is called for the following purpose: BUSINESS SESSION 1. ADOPT RESOLUTION TO APPROVE AMENDED LAST AND FINAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE [RESOLUTION NO. SA 2021-001] Dated: June 22, 2021 1 inda Evans LINDA EVANS, Chairperson SUCCESSOR AGENCY Page 2 of 3 JUNE 23, 2021 SPECIAL MEETING Attest: MONIKA RADEVA City Clerk / Agency Secretary DECLARATION OF POSTING I. Monika Radeva, Agency Secretary, do hereby declare that the foregoing notice for the Special Meeting of June 23, 2021, of the City as Successor Agency to the La Quinta Redevelopment Agency, was posted on the outside entry to the Council Chamber at 78495 Calle Tampico and on the bulletin boards at 51321 Avenida Bermudas and 78630 Highway ill on June 22, 2021. DATED: June 22, 2021 Vt Monika Radeva, City Clerk / Agency Secretary City of La Quinta SUCCESSOR AGENCY Page 3 of 3 JUNE 23, 2021 SPECIAL MEETING Qa�fra — GEM of the DESERT — Successor Agency agendas and staff reports are now available on the City's web page: www.1aguintaca.gov SUCCESSOR AGENCY To The La Quinta Redevelopment Agency AGENDA CITY HALL COUNCIL CHAMBERS 78-495 Calle Tampico, La Quinta SPECIAL MEETING WEDNESDAY, JUNE 23, 2021 AT 5:15 P.M. OR SHORTLY THEREAFTER ****************************** SPECIAL NOTICE Teleconferencing and Telephonic Accessibility In Effect Pursuant to Executive Orders N-25-20, N-29-20, N-33-20, and N-35-20, and N-60-20 executed by the Governor of California, in response to the state of emergency relating to novel coronavirus disease 2019 (COVID-19) and enabling teleconferencing accommodations by suspending or waiving specified provisions in the Ralph M. Brown Act (Government Code § 54950 et seq.), members of the Successor Agency, the Executive Director, Agency Counsel, City Staff, and City Consultants may participate in this meeting by teleconference. Members of the public wanting to listen to the open session of this meeting may do so by tuning -in live via http://laguinta.12milesout.com/video/live. Members of the public wanting to address the Successor Agency during the meeting, either for a specific agenda item or matters not on the agenda, or both, are requested to follow the instructions listed below: Written public comments - can be provided in -person during the meeting or emailed to the City Clerk's Office at CityClerkMail@LaQuintaCA.gov no later than 3:00 p.m. on the day of the meeting, and will be distributed to the Successor Agency, incorporated into the agenda packet and public record of the meeting, and will not be read during the meeting unless, upon the SUCCESSOR AGENCY TO RDA AGENDA Page 1 of 4 JUNE 23, 2021 SPECIAL MEETING request of the Chairperson, a brief summary of any public comment is asked to be read, to the extent the City Clerk's Office can accommodate such request. If emailed, the email "subject line" must clearly state "'Written Comments" and list the following: 1) Full Name 4) Public Comment or Agenda Item Number 2) City of Residence 5) Subject 3) Phone Number 6) Written Comments *** TELECONFERENCE PROCEDURES *** Verbal public comments via Teleconference - members of the public may join the meeting virtually via Zoom and use the "raise your hand" feature when public comments are prompted by the Chairperson; the City will facilitate the ability for a member of the public to be audible to the Successor Agency and general public and allow him/her to speak on the item(s) requested. Please note - members of the public must unmute themselves when prompted upon being recognized by the Chairperson in order to become audible to the Successor Agency and the public. Only one person at a time may speak by teleconference and only after being recognized by the Chairperson. ZOOM LINK: httt)s://zoom.us/i/91648717234 Meeting ID: 916 4871 7234 Or join by phone: (669) 900 - 9128 ****************************** CALL TO ORDER ROLL CALL: Agency Members: Fitzpatrick, Pena, Radi, Sanchez, Chairperson Evans PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA At this time, members of the public may address the Successor Agency on any matter not listed on the agenda by providing written public comments either in - person or via email as indicated above; or provide verbal public comments either in -person or via teleconference by joining the meeting virtually at https://zoom.us/j/91648717234 and use the "raise your hand" feature when prompted by the Chairperson. Members of the public attending the meeting in -person are requested to complete a "Request to Speak" form and submit it to the Agency Secretary. Please limit your comments to three (3) minutes (or approximately 350 words). The Successor Agency values your comments; however, in accordance with State law, no action shall be taken on any item not appearing on the agenda unless it is an emergency item authorized by Government Code § 54954.2(b). SUCCESSOR AGENCY TO RDA AGENDA Page 2 of 4 JUNE 23, 2021 SPECIAL MEETING CONFIRMATION OF AGENDA BUSINESS SESSION PAGE 1. ADOPT RESOLUTION TO APPROVE AMENDED LAST AND FINAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE [SOLUTION NO. SA 2021-001] CHAIR AND BOARD MEMBERS' ITEMS ADJOURNMENT For information about the next special meeting of the City as Successor Agency to the La Quinta Redevelopment Agency, please contact the City Clerk's Office at (760) 777 - 7092. DECLARATION OF POSTING I, Monika Radeva, Agency Secretary of the City as Successor Agency to the La Quinta Redevelopment Agency, do hereby declare that the foregoing agenda was posted near the entrance to the Council Chambers at 78495 Calle Tampico; and on the bulletin boards at the La Quinta Cove Post Office at 51321 Avenida Bermudas and the Stater Brothers Supermarket at 78630 Highway 111, on June 22, 2021. DATED: June 22, 2021 MONIKA RADEVA, Agency Secretary Successor Agency to the La Quinta Redevelopment Agency SUCCESSOR AGENCY TO RDA AGENDA Page 3 of 4 JUNE 23, 2021 SPECIAL MEETING Public Notices • The La Quinta City Council Chamber is handicapped accessible. If special equipment is needed for the hearing impaired, please call the City Clerk's Office at 777-7092, twenty-four (24) hours in advance of the meeting and accommodations will be made. • If special electronic equipment is needed to make presentations to the Successor Agency, arrangement should be made in advance by contacting the City Clerk's Office at 777-7092. A one (1) week notice is required. • If background material is to be presented to the Successor Agency during a meeting, please be advised that eight (8) copies of all documents, exhibits, etc., must be supplied to the City Clerk for distribution. It is requested that this take place prior to the beginning of the meeting. • Any writings or documents provided to a majority of the Successor Agency regarding any item on this agenda will be made available for public inspection at the City Clerk counter at City Hall located at 78-495 Calle Tampico, La Quinta, California, 92253, during normal business hours. SUCCESSOR AGENCY TO RDA AGENDA Page 4 of 4 JUNE 23, 2021 SPECIAL MEETING BUSINESS SESSION ITEM NO. 1 City of La Quinta SUCCESSOR AGENCY MEETING: June 23, 2021 STAFF REPORT AGENDA TI7 ADOPT RESOLUTION TO APPROVE AMENDED LAST AND FINAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE RECOMMENDATION Adopt a Resolution approving an Amended Last and Final Recognized Obligation Payment Schedule and direct staff to submit to the Countywide Oversight Board ("Oversight Board") and the Department of Finance ("DOF"). EXECUTIVE SUMMARY • In April 2021, the La Quinta Successor Agency (SA) successfully concluded the refinancing of previously issued Subordinate Tax Allocation Refunding Bonds, 2013 Series A , Subordinate Tax Allocation Refunding Bonds, 2013 Taxable Series B and Tax Allocation Refunding Bonds, 2014 Series A (collectively, the 'Prior Bonds"). • Refinancing the Prior Bonds with the proceeds of the SA's Tax Allocation Refunding Bonds, 2021 Taxable Series A (the "2021 Bonds") reduced the annual required funding from the Redevelopment Property Tax Trust Fund ("RPTTF"). • In 2017, SA had filed a Last and Final Recognized Obligation Payment Schedule ("ROPS") that requested RPTTF funding for the Prior Bonds through the maturity date of the Prior Bonds. • An Amended Last and Final ROPS will be required in order to reduce the RPTTF funding necessary going forward to pay the lower debt service on the 2021 Bonds and free up additional RPTTF to be distributed to the taxing agencies, including the City. FISCAL IMPACT The debt service savings from refinancing the Prior Bonds is approximately $9,482,000 over 13 years with an average savings of $730,000 per year. The City's share of the additional residual RPTTF created from the savings is approximately 4.9%, based on the 2020-21 distributions of RPTTF. The remaining residual RPTTF will be distributed to other taxing agencies, including schools, the college district, and the County. 5 BACKGROUND/ANALYSIS The SA first approved a Last and Final ROPS in 2017, which identified the SA obligations to be paid pay during 2018/19 through 2039/40. These obligations include tax allocation bond debt service payments, administrative costs, and City General Fund loan repayments. Following adoption of a Last and Final ROPS, the Dissolution Act permitted an increase in the interest rate for the outstanding City General Fund loan, from 3% to 4% based on quarterly simple interest. The SA is allowed to amend the Last and Final ROPS two times. The current Amended Last and Final ROPS to reduce requested RPTTF for debt service will be the first amendment of the original Last and Final ROPS. Amended Last and Final ROPS will be submitted to the Oversight Board and then to DOF for approval. DOF then has 100 days to make its final determination regarding the enforceable obligations, the dollar amounts, and funding sources. ALTERNATIVES Since this is a legislative requirement, staff does not recommend an alternative. Prepared by: Claudia Martinez, Interim Finance Director/City Treasurer Approved by: Jon McMillen, City Manager/Executive Director R, RESOLUTION NO. SA 2021 — XXX A RESOLUTION OF THE SUCCESSOR AGENCY TO THE LA QUINTA REDEVELOPMENT AGENCY ADOPTING THE FIRST AMENDMENT TO THE LAST AND FINAL RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD OF JULY 1, 2022 THROUGH JUNE 30, 2040 WHEREAS, the La Quinta Redevelopment Agency ("Redevelopment Agency") was a redevelopment agency in the City of La Quinta ("City"), duly created pursuant to the California Community Redevelopment Law and Health and Safety Code Section 33000, et.seq.; and WHEREAS, Assembly Bill x1 26 chaptered and effective on June 271 2011 added Parts 1.8 and 1.85 to Division 24 of the California Health and Safety Code, which caused the dissolution of all redevelopment agencies and winding down of the affairs of former agencies, and was subsequently amended by Assembly Bill 1484, chaptered and effective on June 27, 2012, and Senate Bill 107, chaptered and effective on September 22, 2015 (together, the "Dissolution Act"); and WHEREAS, as of February 1, 2012, the Redevelopment Agency was dissolved pursuant to the Dissolution Act and pursuant to Health and Safety Code, Section 34173(d), the City of La Quinta elected to become the successor agency to the La Quinta Redevelopment Agency ("Successor Agency") and the Successor Agency is a separate legal entity from the City of La Quinta; and WHEREAS, the Successor Agency administers the enforceable obligations of the former Redevelopment Agency and otherwise unwinds the Redevelopment Agency's affairs, all subject to the review and approval by a seven -member oversight board; and WHEREAS, Health and Safety Code, Section 34179(j) established the Riverside Countywide Oversight Board ("Oversight Board") by requiring that commencing after July 1, 2018, in each county where more than one oversight board was created, there shall be only one oversight board; and rA Resolution No. SA 2021 - XXX First (1st) Amendment to the Last and Final Recognized Obligation Payment Schedule Adopted: June 23, 2021 Page 2 of 4 WHEREAS, the Oversight Board with oversight of the Successor Agency to the former Redevelopment Agency has been appointed pursuant to the provisions of Health and Safety Code Section 34179; and WHEREAS, pursuant to Health and Safety Code Section 34191.6, the Successor Agency, the Oversight Board and the Department of Finance ("DOF") approved a Last and Final ROPS, effective July 1, 2018; and WHEREAS, the Last and Final ROPS identifies each enforceable obligation on which payments will be required to be made by the Successor Agency from and after July 1, 2018, until its termination and the amount to be paid for such obligations from the Redevelopment Property Tax Trust Fund ("RPTTF"); and WHEREAS, pursuant to Health and Safety Code Section 34177.5, the Successor Agency, the Oversight Board and DOF approved a refinancing of Successor Agency's outstanding Subordinate Tax Allocation Refunding Bonds, 2013 Series A, Subordinate Tax Allocation Refunding Bonds, 2013 Taxable Series B and Tax Allocation Refunding Bonds, 2014 Series A (collectively, the "Prior Bonds") through the issuance by the Successor Agency of its Tax Allocation Refunding Bonds, 2021 Taxable Series A ("Refunding Bonds"); and WHEREAS, the Successor Agency has sold the Refunding Bonds, reducing the amount of RPTTF required to be remitted to the Successor Agency; and WHEREAS, Health and Safety Code Section 34191.6 sets forth the process and authorizes up to two amendments, excluding specified actions, to a duly approved Last and Final ROPS; and WHEREAS, the Successor Agency will reduce the amount of RPTTF required to be remitted to the Successor Agency by approving a first amendment to the Last and Final ROPS; and WHEREAS, Health and Safety Code, Section 34191.6 requires the Oversight Board to approve the amendment to the Last and Final ROPS prior to the Successor Agency submitting the amendment to the Last and Final ROPS to DOF; and WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred. Resolution No. SA 2021 - XXX First (1st) Amendment to the Last and Final Recognized Obligation Payment Schedule Adopted: June 23, 2021 Page 3 of 4 NOW THEREFORE, BE IT RESOLVED, by the Successor Agency to the La Quinta Redevelopment Agency, asfollows: SECTION 1. Recitals. The Recitals set forth above are true and correct and incorporated herein byreference. SECTION 2. Approval of the Amendment. The Successor Agency hereby approves and adopts the first amendment to the Last and Final ROPS ("First Amendment"), in substantially the form attached to this Resolution as Exhibit A, pursuant to Health and Safety Code Section 34191.6. SECTION 3. Implementation. The City Manager is hereby authorized to take all actions necessary under the Dissolution Act to post the First Amendment on the Successor Agency website, transmit the First Amendment to the Auditor -Controller and the County Administrator of the County of Riverside and DOF, submit the First Amendment to the Oversight Board, and to take any other actions necessary to ensure the approval and validity of the First Amendment and the validity of any enforceable obligation approved by the Successor Agency in this Resolution. In addition, the Successor Agency authorizes and directs the Successor Agency staff to make such non -substantive revisions to the First Amendment as may be necessary to submit the First Amendment in any modified form required by the Oversight Board or DOF, and the First Amendment as so modified shall thereupon constitute the First Amendment as approved by the Successor Agency pursuant to this Resolution. SECTION 4. Severability. If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications 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 Successor Agency hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof. SECTION 5. The Successor Agency Secretary shall certify to the adoption of this Resolution. PASSED, APPROVED, and ADOPTED at the special meeting of the Successor Agency to the La Quinta Redevelopment Agency held this 23rd of June, 2021, by the following vote: W Resolution No. SA 2021 - XXX First (1s') Amendment to the Last and Final Recognized Obligation Payment Schedule Adopted: June 23, 2021 Page 4 of 4 AYES: NOES: ABSENT: ABSTAIN: LINDA EVANS, Chairperson City of La Quinta Acting as Successor Agency to the La Quinta Redevelopment Agency ATTEST: MONIKA RADEVA, Agency Secretary City of La Quinta Acting as Successor Agency to the La Quinta Redevelopment Agency (CITY SEAL) APPROVED AS TO FORM: WILLIAM H. IHRKE, Agency Counsel City of La Quinta Acting as Successor Agency to the La Quinta Redevelopment Agency 10 RESOLUTION NO. SA 2021-XXX EXHIBIT A Last and Final Recognized Obligation Payment Schedule (ROPS) - Summary Filed for the July 1, 2022 through June 30, 2040 Period Successor Agency: La Quinta County: Riverside Initial ROPS 22-23A Period: Final ROPS Period: 39-40B Requested Funding for Enforceable Obligations A Enforceable Obligations Funded as Follows (B+C) B Bond Proceeds C Other Funds D Redevelopment Property Tax Trust Fund (RPTTF) (E+F) E RPTTF F Administrative RPTTF G Total Outstanding Obligations (A+D) Certification of Oversight Board Chairman: Pursuant to Section 34177 (o) of the Health and Safety code, I hereby certify that the above is a true and accurate Recognized Obligation Payment Schedule for the above named successor agency. /s/ Total Outstanding Obligation $2,044,777 2,044,777 $229,621,015 229,584,715 36,300 $231,665,792 Name Title Signature Date 11 12 La Quinta Last and Final Recognized Obligation Payment Schedule (ROPS) - Summary by ROPS Period July 1, 2022 through June 30, 2040 A Period July - December Fund Sources ROPS Period Bond Proceeds Other Funds RPTTF Admin RPTTF Six -Month Total $- $2,044,777 $187,552,020 $18,150 $189,614,947 ROPS 22-23A - 2,043,293 12,931,361 1,500 $14,976,154 ROPS 23-24A - 120 15,001,818 1,500 $15,003,438 ROPS 24-25A - 120 15,052,060 1,500 $15,053,680 ROPS 25-26A - 120 15,117,025 1,500 $15,118,645 ROPS 26-27A - 120 15,216,066 1,500 $15,217,686 ROPS 27-28A - 120 15,337,117 1,500 $15,338,737 ROPS 28-29A - 120 15,466,071 1,500 $15,467,691 ROPS 29-30A - 120 15,620,356 1,500 $15,621,976 ROPS 30-31A - 120 15,798,541 1,200 $15,799,861 ROPS 31-32A - 90 15,987,828 1,200 $15,989,118 ROPS 32-33A - 90 16,199,890 900 $16,200,880 ROPS 33-34A - 90 7,236,927 750 $7,237,767 ROPS 34-35A - 65 7,781,426 600 $7,782,091 ROPS 35-36A - 45 2,845,779 300 $2,846,124 ROPS 36-37A - 41 618,763 300 $619,104 ROPS 37-38A - 41 630,798 300 $631,139 ROPS 38-39A - 41 647,217 300 $647,558 ROPS 39-40A - 21 62,977 300 $63,298 B Period January - June ROPS Period Fund Sources Six -Month Total Twelve -Month Total Bond Proceeds Other Funds RPTTF Admin RPTTF $- $- $42,032,695 $18,150 $42,050,845 $231,665,792 ROPS 22-23B - - 5,119,770 1,500 $5,121,270 $20,097,424 ROPS 23-24B - - 5,137,406 1,500 $5,138,906 $20,142,344 ROPS 24-25B - - 5,141,112 1,500 $5,142,612 $20,196,292 ROPS 25-26B - - 5,115,270 1,500 $5,116,770 $20,235,415 ROPS 26-27B - - 5,072,886 1,500 $5,074,386 $20,292,072 ROPS 27-28B - - 5,009,839 1,500 $5,011,339 $20,350,076 ROPS 28-29B - - 4,928,532 1,500 $4,930,032 $20,397,723 ROPS 29-30B - - 4,392,230 1,500 $4,393,730 $20,015,706 ROPS 30-31 B - - 766,165 1,200 $767,365 $16,567,226 ROPS 31-32B - - 563,276 1,200 $564,476 $16,553,594 ROPS 32-33B - - 345,363 900 $346,263 $16,547,143 ROPS 33-34B - - 234,837 750 $235,587 $7,473,354 ROPS 34-35B - - 109,170 600 $109,770 $7,891,861 ROPS 35-36B - - 43,864 300 $44,164 $2,890,288 ROPS 36-37B - - 30,899 300 $31,199 $650,303 ROPS 37-38B - - 17,318 300 $17,618 $648,757 ROPS 38-39B - - 3,058 300 $3,358 $650,916 ROPS 39-40B - - 1,700 300 $2,000 $65,298 13 La Quinta Last and Final Recognized Obligation Payment Schedule (ROPS) - ROPS Detail July 1, 2022 through June 30, 2040 (Report Amounts in Whole Dollars) A B C D E F G H I Item Agreement Agreement Project Total Outstaning # Project Name Obligation Type Execution Termination Payee Description Area Obligation Date Date $231,665,792 9 Annual Continuing Disclosure Statements Fees 01/17/2012 09/01/2039 Willdan Financial Preparation of annual continuing disclosure reports per 49,304 Services Federal regulations 10 Bond Holder Fees Fees 06/16/2005 09/01/2039 US Bank Fees for holding administration and distribution of bond 49,445 proceeds 22 Administrative Allowance Admin Costs 01/01/2014 09/01/2039 City of La Quinta Administrative Allowance per ABx1 26 (3% of ROPS) 36,300 23 Series A 2013 TARB Bonds Issued After 12/31/10 12/23/2013 09/01/2033 US Bank Refund 1998, 2001, 2002, 2003 TABs - 24 Series B 2013 TARB Bonds Issued After 12/31/10 12/23/2013 09/01/2032 US Bank Refund 1998, 2001, 2002, 2003 TABs - 25 Advances from City General Fund approved for City/County Loan (Prior 06/28/11), 06/30/1994 09/01/2030 City of La Quinta Loans made from the General Fund to the former RDA. 28,486,493 repayment by Oversight Board Cash exchange Principal and 4% simple interest. 27 2014 Bonds Bonds Issued After 12/31/10 07/09/2014 09/01/2034 US Bank Refund 2004 Bonds - 31 2016 Taxable Series A TARB Bonds Issued After 12/31/10 12/22/2016 09/01/2039 US Bank Refund 2011 Tax Allocation Bonds - Series 2011 PA 2 and 37,721,573 2011 Series A 32 Bond Expenditure Agreement, La Quinta Non -Housing Bond Funded Project - Pre-2011 07/05/2016 12/31/2017 City of La Quinta In agreement with the bond spending plan as outlined in the - Tax Allocation Bonds bond expenditure agreement. 33 Bond Expenditure Agreement, La Quinta Housing Tax Bond Funded Project - Housing 07/05/2016 12/31/2017 City of La Quinta In agreement with the bond spending plan as outlined in the - Allocation Bonds bond expenditure agreement. 34 Tax Allocation Refunding Bonds, 2021 Taxable Series Refunding Bonds Issued After 6/ 04/14/2021 09/01/2034 US Bank Refunding 2013 Series A, 2013 Series B and 2014 Bonds 165,322,677 A 27/12 14 A J K I L M N O 1 P Q R S T U V W I X Y 22-23A (Jul -Dec) 22-23B (Jan -Jun) 23-24A (Jul -Dec) 23-24B (Jan -Jun) Item # Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF $- $2,043,293 $12,931,361 $1,500 $- $- $5,119,770 $1,500 $- $120 $15,001,818 $1,500 $- $- $5,137,406 $1,500 9 - - - - - - 3,050 - - - - - - - 3,050 - 10 - - 1,500 - - - 1,600 - - - 1,500 - - - 1,600 - 22 - - - - - - - - - - - - - - - - 23 - - - - - - - - - - - - - - - - 24 - - - - - - - - - - - - - - - - 25 - - - - - - 3,369,682 - - - - - - - 3,437,076 - 27 - - - - - - - - - - - - - - - - 31 - - 1,980,077 - - - 529,178 - - - 1,994,178 - - - 506,302 - 32 - - - - - - - - - - - - - - - - 33 - - - - - - - - - - - - - - - - 34 - 2,043,293 10,949,784 - - - 1,216,260 - - 120 13,006,140 - - - 1,189,378 - A Z AA AB AC AD AE I AF AG AH Al AJ AK AL AM I AN AO 24-25A (Jul -Dec) 24-25B (Jan -Jun) 25-26A (Jul -Dec) 25-26B (Jan -Jun) Item # Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF $- $120 $15,052,060 $1,500 $- $- $5,141,112 $1,500 $- $120 $15,117,025 $1,500 $- $- $5,115,270 $1,500 9 - - - - - - 3,050 - - - - - - - 3,050 - 10 - - 1,500 - - - 1,600 - - - 1,500 - - - 1,600 - 22 - - - - - - - - - - - - - - - - 23 - - - - - - - - - - - - - - - - 24 - - - - - - - - - - - - - - - - 25 - - - - - - 3,505,817 - - - - - - - 3,575,934 - 27 - - - - - - - - - - - - - - - - 31 - - 2,016,302 - - - 482,013 - - - 2,047,013 - - - 455,667 - 32 - - - - - - - - - - - - - - - - 33 - - - - - - - - - - - - - - - - 34 - 120 13,034,258 - - - 1,148,632 - - 120 13,068,512 - - - 1,079,019 - 15 A AP AQ AR AS AT AU AV AW AX AY AZ BA BB BC BD BE 26-27A (Jul -Dec) 26-27B (Jan -Jun) 27-28A (Jul -Dec) 27-28B (Jan -Jun) Item # Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF $- $120 $15,216,066 $1,500 $- $- $5,072,886 $1,500 $- $120 $15,337,117 $1,500 $- $- $5,009,839 $1,500 9 - - - - - - 3,142 - - - - - - - 3,142 - 10 - - 1,500 - - - 1,600 - - - 1,545 - - - 1,650 - 22 - - - - - - - - - - - - - - - - 23 - - - - - - - - - - - - - - - - 24 - - - - - - - - - - - - - - - - 25 - - - - - - 3,647,452 - - - - - - - 3,720,401 - 27 - - - - - - - - - - - - - - - - 31 - - 2,075,667 - - - 427,179 - - - 2,102,179 - - - 396,886 - 32 - - - - - - - - - - - - - - - - 33 - - - - - - - - - - - - - - - - 34 - 1201 13,138,899 - - - 993,513 - - 120 13,233,393 - - -1 887,760 - A BF BG BH BI BJ BK I BL BM BN BO BP BQ BR BS I BT BU 28-29A (Jul -Dec) 28-29B (Jan -Jun) 29-30A (Jul -Dec) 29-30B (Jan -Jun) Item # Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF $- $120 $15,466,071 $1,500 $- $- $4,928,532 $1,500 $- $120 $15,620,356 $1,500 $- $- $4,392,230 $1,500 9 - - - - - - 3,142 - - - - - - - 3,142 - 10 - - 1,545 - - - 1,650 - - - 1,545 - - - 1,650 - 22 - - - - - - - - - - - - - - - - 23 - - - - - - - - - - - - - - - - 24 - - - - - - - - - - - - - - - - 25 - - - - - - 3,794,809 - - - - - - - 3,435,322 - 27 - - - - - - - - - - - - - - - - 31 - - 2,126,886 - - - 364,302 - - - 21164,302 - - - 328,599 - 32 - - - - - - - - - - - - - - - - 33 - - - - - - - - - - - - - - - - 34 - 120 13,337,640 - - - 764,629 - - 120 13,454,509 - - - 623,517 - 16 A BV BW BX BY BZ CA 1 CB CC CD CE CF CG CH Cl I CJ CK CP CQ CR CS 30-31A (Jul -Dec) 30-31B (Jan -Jun) 31-32A (Jul -Dec) 31-32B (Jan -Jun) 32-33B (Jan -Jun) Item # Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF $- $120 $15,798,541 $1,200 $- $- $766,165 $1,200 $- $90 $15,987,828 $1,200 $- $- $563,276 $1,200 $- $- $345,363 $900 9 - - - - - - 3,142 - - - - - - - 3,236 - - - 3,236 - 10 - - 1,545 - - - 1,650 - - - 1,545 - - - 1,650 - - - 1,700 - 22 - - - - - - - - - - - - - - - - - - - - 23 - - - - - - - - - - - - - - - - - - - - 24 - - - - - - - - - - - - - - - - - - - - 25 - - - - - - - - - - - - - - - - - - - - 27 - - - - - - - - - - - - - - - - - - - - 31 - - 2,198,599 - - - 290,572 - - - 2,235,572 - - - 250,535 - - - 207,732 - 32 - - - - - - - - - - - - - - - - - - - - 33 - - - - - - - - - - - - - - - - - - - - 34 - 120 13,598,397 - - - 470,801 - - 90 13,750,711 - - - 307,855 - - - 132,695 - A CL CM CN CO CT CU I CV CW CX CY I CZ DA 32-33A (Jul -Dec) 33-34A (Jul -Dec) 33-34B (Jan -Jun) Item # Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF $- $90 $16,199,890 $900 $- $90 $7,236,927 $750 $- $- $234,837 $750 9 - - - - - - - - - - 3,236 - 10 - - 1,590 - - - 1,590 - - - 1,700 - 22 - - - - - - - - - - - - 23 - - - - - - - - - - - - 24 - - - - - - - - - - - - 25 - - - - - - - - - - - - 27 - - - - - - - - - - - - 31 - - 2,280,535 - - - 2,317,732 - - - 161,660 - 32 - - - - - - - - - - - - 33 - - - - - - - - - - - - 34 - 90 13,917,765 - - 90 4,917,605 - - - 68,241 - 17 A DB DC I DD DE DF DG I DH DI DJ DK DL DM DN DO DP DQ DR DS DT DU 34-35A (Jul -Dec) 34-35B (Jan -Jun) 35-36A (Jul -Dec) 35-36B (Jan -Jun) 36-37A (Jul -Dec) Item # Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF $- $65 $7,781,426 $600 $- $- $109,170 $600 $- $45 $2,845,779 $300 $- $- $43,864 $300 $- $41 $618,763 $300 9 - - - - - - 3,236 - - - - - - - 1,650 - - - - - 10 - - 1,590 - - - 1,700 - - - 1,590 - - - - - - - 1,590 - 22 - - - - - - - - - - - - - - - - - - - - 23 - - - - - - - - - - - - - - - - - - - - 24 - - - - - - - - - - - - - - - - - - - - 25 - - - - - - - - - - - - - - - - - - - - 27 - - - - - - - - - - - - - - - - - - - - 31 - - 2,791,660 - - - 104,234 - - 45 2,844,189 - - - 42,214 - - 41 617,173 - 32 - - - - - - - - - - - - - - - - - - - - 33 - - - - - - - - - - - - - - - - - - - - 34 - 65 4,988,176 - - - - - - - - - - - - - - - - - A DV DW I DX DY DZ EA I EB EC ED EE I EF EG 36-37B (Jan -Jun) 37-38A (Jul -Dec) 37-38B (Jan -Jun) Item # Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF $- $- $30,899 $300 $- $41 $630,798 $300 $- $- $17,318 $300 9 - - 1,700 - - - - - - - 1,700 - 10 - - - - - - 1,640 - - - - - 22 - - - - - - - - - - - - 23 - - - - - - - - - - - - 24 - - - - - - - - - - - - 25 - - - - - - - - - - - - 27 - - - - - - - - - - - - 31 - - 29,199 - - 41 629,158 - - - 15,618 - 32 - - - - - - - - - - - - 33 - - - - - - - - - - - - 34 - - - - - - - - - - - - A EH El I EJ EK EL EM I EN EO EP EQ ER ES ET EU EV EW 38-39A (Jul -Dec) 38-39B (Jan -Jun) 39-40A (Jul -Dec) 39-40B (Jan -Jun) Item # Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF Bond Proceeds Other Funds RPTTF Admin RPTTF $- $41 $647,217 $300 $- $- $3,058 $300 $- $21 $62,977 $300 $- $- $1,700 $300 9 - - - - - - 1,700 - - - - - - - 1,700 - 10 - - 1,640 - - - - - - - 1,640 - - - - - 22 - - - - - - - - - - - - - - - - 23 - - - - - - - - - - - - - - - - 24 - - - - - - - - - - - - - - - - 25 - - - - - - - - - - - - - - - - 27 - - - - - - - - - - - - - - - - 31 - 41 645,577 - - - 1,358 - - 21 61,337 - - - - - 32 - - - - - - - - - - - - - - - - 33 - - - - - - - - - - - - - - - - 34 - - - - - - - - - - - - - - - - 19 POWER POINTS SUCCESSOR AGENCY SPECIAL MEETING DUNE 231 2021 Successor Agency Special Meeting June 23, 2021 '.; .. CALIF' Successor Agency Special Meeting June 23, 2021 61 - Last and Final ROPS Amendment i' 06/23/2021 0 3 4 ➢August 2017- Initial filing of Last and Final ROPS ➢April 2021- Refinancing of 2013 Series A and B and 2014 Series A ➢2021 Bond - Amendment #1 to Last and Final ROPS (2 allowable amendments) 2 06/23/2021 06/23/2021