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• • 2.32.010 Chapter 2.32 edness may be paid from tax increments or any other funds available to the agency. (Ord. METHODS OF FINANCING 93 -012 § 601, 1993) THE PROJECT 2.32.020 Tax increments. Sections: All taxes levied upon taxable property 2.32.010 General description of the within the project area each year by or for the proposed financing benefit of the state of California, county of methods. Alameda. city of San Leandro, any district, or 2.32.020 Tax increments. other public corporation (hereinafter some - 2.32.030 Other loans and grants. times called "taxing agencies ") after the effec- tive date of the ordinance approving this plan 2.32.010 General description of the shall be divided as follows: proposed financing A. That portion of the taxes which would methods. be produced by the rate upon which the tax is Upon adoption of this plan by the city levied each year by or for each of said taxing council. the agency is authorized to finance agencies upon the total sum of the assessed the project with property tax increments, in- value of the taxable property in the project as terest income, agency bonds, loans from pri- shown upon the assessment roll used in con- vate institutions. proceeds from the sale or nection with the taxation of such property by lease of property, financial assistance from the such taxing agency. last equalized prior to the city, county, state of California, federal gov- effective date of such ordinance, shall be allo- ernment, or any other public agency, or any cated to and stated above, all the taxes levied other legally available source. and collected upon the taxable property in the The city or county may, in accordance with project shall be paid into the funds of the re- the law, make advances and expend money as spective taxing agencies. When said bonds, necessary to assist the agency in carrying out loans, advances and collected shall be paid this project. Such assistance shall be on terms into the funds for the respective taxing agen- established by an agreement between the city cies as taxes by or for said taxing agencies on or county and the agency. all other property are paid (for the purpose of As available, gas tax funds from the state of allocating taxes levied by or for any taxing California and the county will be used for the agency or agencies which did not include the street system. As available. federal loans and territory of the project on the effective date of grants will be used to finance portions off pro- such ordinance but to which such territory is ject costs. annexed or otherwise included after such ef- The agency is authorized to issue bonds if fective date, the assessment roll last equalized appropriate and feasible in an amount suffi- on the effective date of said ordinance shall be cient to finance all or any part of the project. used in determining the assessed valuation of The agency is authorized to obtain ad- the taxable property in the project on said ef- vances, borrow funds and create indebtedness fective date): and in carrying out this plan. The principal and B. Except as provided in subsections C interest on such advances, funds, and indebt- and D, that portion of the levied taxes each 83 (San Leandro Redevelopment Agency 3 -05)