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 1x26 (AB1x26) and invalidated Assembly Bill 1x27. The Court’s decision resulted in the implementation of AB1x26 which dissolved all redevelopment agencies in the State of California as of February 1, 2012. The City Council as Successor Agency was established for the purpose of assisting with winding-down the Signal Hill Redevelopment Agency under AB1x26. The City Council as Successor Agency has an approved Long Range Property Management Plan (LRPMP) and adopts an annual budget called the Recognized Obligation Payment Schedule (ROPS).