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• 1.16.030 the respective taxing agencies as taxes on all • Neither the members of the . agency nor other property paid. (33670) any persons executing the bonds are liable B. The portion of taxes mentioned in personally on the bonds by reason of their •• subsection (A)(2) of this section are irrevo- issuance. (33643) cably pledged for the payment of the princi- • The bonds and other obligations of the •. pal' and interest on the advance of monies, or agency are not a debt of the city, the state, . making of loans, or the incurring of any in- nor are any of its political subdivisions li- • debtedness (whether funded, refunded, as- able for them, nor in any event shall the sumed or otherwise) by the agency to fi- bonds or obligations be payable out of any • nance or refinance the project in whole or in funds or properties other than those of the • part. • agency; and such bonds and other obliga- . . C. The agency is authorized to make tions shall so state on their face. The bonds such pledges as to specific advances, loans, do not 'constitute an indebtedness within the and indebtedness as appropriate in carrying meaning of any constitutional or statutory • out the plan. debt limitation or restriction. (33644) . . D. • The number of dollars of taxes which • The' agency shall not establish or incur , . may be divided and allocated to. the agency loans, advances or indebtedness to finance, . pursuant to the plan shall not exceed seven in whole or in part, the redevelopment pro million five hundred thirty-seven thousand ject after the plan termination date as set six . hundred and fifty -seven dollars . forth in Section 1.04.080 of this title without • • • • . ($7,537,657.00), exclusive of the housing amending this plan. This limit, however ' . ' . setaside funds required by Section 33334.2 shall not prevent incurring debt to .be paid • of the Community Redevelopment Law. . from the low- and moderate- income housing Taxes shall not .be divided and shall not be fund or establishing more debt in order to - . allocated to the Agency beyond said limita- fulfill the agency's housing obligations in • . tion without an amendment to this plan. accordance with state law. • . • (33333.4[1]) (Plaza 1 redev. plan § 10(B), ' • Pursuant to Section 33333.6 of the 1986) . Health and Safety Code, receipt of tax in- . crement to finance, in whole or in part, the • 1.16.030 Bonds advances and redevelopment project will terminate as of • indebtedness. • December 28, 2008, except to the extent that • The agency is •authorized to issue bonds debt incurred prior to January 1, 1994 re- if appropriate and feasible in an amount suf- quires repayment and that the agency must ficient to finance all or any part of the pro- . fulfill certain affordable housing obligations. jest. (33341) Repayment of debt established prior to Janu- The agency is authorized to obtain ad- ary 1, 1994 must be repaid by December 28, • vances, borrow funds and create indebted- 2026 pursuant to Sections 33333.6(h) and ness in carrying out this plan. The principal 33670 of the State Health and Safety Code. and interest on such advances, funds and (Ord. 2005 -009 §' 1(B); Ord. 2003 -019 § 1 indebtedness may be paid from tax incre- (part), 2003; Ord. 94 -018 § 1, 1994; Plaza 1 ments or any other funds available to the • redev. Plan § 10(C), 1986) • • agency. (33601, 33671) • • 15 (San Leandro Redevelopment Agency Supp. No. 2. 12 -05) •