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1.36.030 • agency shall not be allocated nor paid any advances or indebtedness shall be established portion of such taxes collected from the fol- or incurred in Area 5 (A -D) afterJuly 5, 2008. lowing properties, designated by their current These limits. however shall not prevent incur - assessor's parcel numbers as 77A- 675 -3, 77A- ring debt to be paid from the low- and moder- 675-4-3, 77A - 675 -4 -9, 77A - 675 -4- 15. 77A- ate - income housing fund or establishing more 675 -4 -18, 77A - 675 -4 -19, 77A - 675 -5 -2, 77A- debt in order to fulfill the agency's housing 675-5-6. 77A-675-6-3, 77A - 675 -7, 77A -675- obligations in accordance with state law. The 8 -3. 77A - 675 -11, and 77A - 675 -12. These time limitation set forth herein may be ex- properties, which shall not be subject to cap- tended only by amendment of this plan and in ture of tax increment by the agency, are accordance with state law. shown as Sub -Area D -I in Exhibit Pursuant to Section 33333.2 of the Health 1.24.0I0(B). and Safety Code, loans, advances, or other C. The portion of taxes mentioned in sub- indebtedness, except those used for affordable section (A)(2) of this section collected by the housing activities, must be repaid no later than agency are hereby irrevocably pledged for the January 1, 2020 for the original project area; payment of the principal of and interest on the December 17, 2030 for Area 2; March 30, advance of monies, or making of loans, or the 2032 for Area 3; November 29, 2033 for Area incurring of any indebtedness (whether 4; and July 5, 2039 for Area 5 (A —D). (Ord. funded, refunded, assumed or otherwise) by 2003 -019 § I (part), 2003; Ord. 94 -019 § 1, the agency to finance or refinance the project 1994; Plaza 2 redev. Plan § 11(B), 1988) in whole or in part. D. The agency is authorized to make such 1.36.030 Bonds, advances and pledges as to specific advances, loans and in- indebtedness. debtedness as appropriate in carrying out the The agency is authorized to issue bonds if project. appropriate and feasible in an amount suffi- E. The number of dollars of taxes which cient to finance all or any part of the project. may be divided and allocated to the agency The agency is authorized to obtain ad- pursuant to this plan shall not exceed eighty- vances, borrow funds and create indebtedness seven million five hundred thousand dollars in carrying out this plan. The principal and ($87,500,000), inclusive of the housing set- interest on such advances, funds and indebt- aside funds required by Section 33334.2 and edness may be paid from tax increments or replacement housing obligations created in any other funds available to the agency. accordance with Section 33413 of the Coni- Neither the members of the agency nor any munity Redevelopment Law. Taxes shall not persons executing the bonds are liable person - be divided and shall not be allocated to the ally on the bonds by reason of their issuance. agency beyond said limitation without an The bonds and other obligations of the amendment to this plan. agency are not a debt of the city. the state, nor F. As to the tax increment generated are any of its political subdivisions liable for within the project area. no loans. advances or them, nor in any event shall the bonds or obli- indebtedness shall be established or incurred gations be payable out of any funds or proper - in the original project area and Areas 2 ties other than those of the agency; and such through 4 after January 1, 2004, and no loans, bonds and other obligations shall so state on (San Leandro Redevelopment Agency Supp. No. I. 10-04) 46