Examples of Dissolution Act in a sentence
DISCUSSION: The Redevelopment Agency Dissolution Act (the “Dissolution Act”) (ABx1 26) requires that an oversight board approve the Recognized Obligation Payment Schedule (ROPS) prepared by the successor agency before it can be submitted to the Stanislaus County Auditor-Controller, California Department of Finance (Finance) and the State Controller’s Office.
Without limiting the generality of the foregoing, the Successor Agency covenants and agrees to file all required statements and hold all public hearings required under the Dissolution Act to assure compliance by the Successor Agency with its covenants hereunder.
The Successor Agency shall comply with all of the requirements of the Law and the Dissolution Act.
All statutory references herein are to the Dissolution Act unless otherwise stated.
The Dissolution Act provides for an administrative cost allowance to provide funds for successor agencies to wind down the affairs and administer the debt repayments of the former redevelopment agency.