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Resolution No. 6284074 RESOLUTION NO. 6284 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS, CALIFORNIA DETERMINING THAT THE CITY OF CYPRESS SHALL RETAIN THE HOUSING ASSETS AND FUNCTIONS OF THE DISSOLVED CYPRESS REDEVELOPMENT AGENCY PURSUANT TO HEALTH AND SAFETY CODE SECTION 34176 WHEREAS, the Cypress Redevelopment Agency ( "Redevelopment Agency ") is a public body, corporate and politic, organized and existing under the California Community Redevelopment Law (Health & Safety Code Section 33000 et seq.); and WHEREAS, the City of Cypress is a municipal corporation and a charter city organized and existing under the Constitution of the State of California ( "City "); and WHEREAS, on December 29, 2011, the California Supreme Court issued its opinion in the case California Redevelopment Association, et al. v. Ana Matosantos, etc., et al., Case No. S196861, and upheld the validity of Assembly Bill 1 x26 ( "AB1 x26 ") and invalidated Assembly Bill 1x27 ("AB1x27"); and WHEREAS, the Court's decision results in the implementation of AB1x26 which dissolves all the redevelopment agencies in the State of California as of February 1, 2012; and WHEREAS, pursuant to a provision of AB1x26, codified as Health and Safety Code Section 34176, the city, in the case of a redevelopment agency of a city, may elect to retain the housing assets and functions of the dissolved redevelopment agency; and WHEREAS, the City Council, having considered the matter, has determined, in its legislative discretion, that it is in the best interests of the City for the City to retain the housing assets and functions of the dissolved Redevelopment Agency; NOW, THEREFORE, the City Council of the City of Cypress resolves as follows: Section 1. The foregoing Recitals are true and correct and are incorporated herein. Section 2. The City Council hereby affirmatively determines that the City of Cypress elects to, and shall, retain the housing assets and functions of the dissolved Cypress Redevelopment Agency. Section 3. The City Manager and his authorized designees are hereby authorized and directed to take such other and further actions and sign such other and further documents as is necessary and proper to implement this Resolution on behalf of the City. PASSED AND ADOPTED by the City Council of the City of Cypress at a regular meeting held on the 9th day of January, 2012. ATTEST: LOX CITY CLERK OF THE CITY OF CYPRESS • STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SS OR O CITY OF CYPRESS I, DENISE BASHAM, City Clerk of the City of Cypress, DO HEREBY CERTIFY that the foregoing Resolution was duly adopted at a regular meeting of the said City Council held on the 9th day of January,2012 , by the following roll call vote: AYES: 5 COUNCIL MEMBERS: Luebben, Mills, Seymore, Narain and Bailey NOES: 0 COUNCIL MEMBERS: None ABSENT: 0 COUNCIL MEMBERS: None CITY CLERK OF THE CITY OF CYPRESS