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community to improve or increase the supply of low and moderate income housing, or (2) that some stated percentage less than 20% of the tax increment is sufficient to meet the housing need. The 2010 Bonds are payable from certain Housing Set-Aside moneys, as described herein. When all bonds, loans, advances, and indebtedness, if any, and interest thereon, have been paid, all moneys thereafter received from taxes upon the taxable property in the Project Area shall be paid into the funds of the respective taxing agencies as taxes on all other property are paid. See "Housing Tax Revenues," below. Housing Tax Revenues Low and Moderate Income Housing. Chapter 1337, Statutes of 1976, added Sections 33334.2 and 33334.3 to the Redevelopment Law requiring redevelopment agencies to set aside 20 percent of all tax increment revenues allocated and paid to redevelopment agencies from redevelopment project areas adopted after September 31, 1976 in a Low and Moderate Income Housing fund to be expended for authorized low and moderate income housing purposes. The Project Areas are subject to the 20% set-aside requirement for low and moderate income housing. Housing Tax Revenues, as specifically defined in the Indenture and below, consists of these set-aside amounts. General. The 2010 Bonds and any Parity Debt (as defined below) will be equally secured by a pledge of, security interest in and lien on all of the Housing Tax Revenues and the moneys in the Special Fund and the Reserve Account shall also be secured by a first and exclusive pledge of, security interest in and lien upon all of the moneys in the Debt Service Fund, the Interest Account, the Principal Account, the Sinking Account and the Redemption Account without preference or priority for series, issue, number, dated date, sale date, date of execution or date of delivery. Except for the Housing Tax Revenues and such moneys, no funds or properties of the Agency shall be pledged to, or otherwise liable for, the payment of principal of or interest or redemption premium (if any) on the 2010 Bonds. See "APPENDIX C - Summary of Certain Provisions of the Indenture". The proceeds of the 2010 Bonds deposited by the Agency in the Agency's Low and Moderate Income Housing Fund shall be maintained separate and apart from other moneys of the Agency, and shall be used in the manner provided by the Redevelopment Law solely for the purpose of aiding in financing and refinancing low- and moderate- income housing located in or of benefit to the Project Areas, including, without limitation, the payment of any unpaid Costs of Issuance. The Agency covenants in the Indenture that no funds on deposit in the Low and Moderate Income Housing Fund, including the proceeds of the 2010 Bonds, shall be applied for any purpose not authorized by the Law. "Housing Tax Revenues" is defined in the Indenture to mean collectively, the Alameda County -City of San Leandro Project Area Housing Tax Revenues and the West San Leandro Project Area Housing Tax Revenues (both as defined follows). "Alameda County -City of San Leandro Project Area Housing Tax Revenues" means that portion of Alameda County -City of San Leandro Project Area Tax Revenues required by Section 33334.2, 33334.3 and 33334.6 of the Redevelopment Law to be deposited in the Agency's Low and Moderate Income Housing Fund, provided that, for so long as any Bonds or Parity Debt are outstanding, in no event shall the Agency deposit less than 20% of Alameda County -City of San Leandro Project Area Tax Revenues in the Low and Moderate Income Housing Fund. "Alameda County -City of San Leandro Project Area Tax -10-