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• 3.40.010 Chapter 3.40 state and county may be used for street improvements and public transit facilities. FINANCING THE PROJECT The city council may appropriate to the agency such amounts as the city council Sections: deems necessary for the administrative 3.40.010 General description of the expenses and overhead of the agency. The proposed financing money appropriated may be paid to the methods. agency as a grant to defray the expenses and 3.40.020 Tax increment funds. overhead, or as a loan to be repaid upon such 3.40.030 Payments to taxing terms and conditions as the city council may entities. provide. In addition to the common 3.40.040 Agency bonds. understanding and usual interpretation of the 3.40.050 Time limit on establishing term. "administrative expense" includes, but is indebtedness. not limited to, expenses of redevelopment 3.40.060 Time limit on use of tax planning and dissemination of redevelopment increment funds to repay information. The city may also provide indebtedness. additional assistance in the form of bonds, • loans, grants, and in -kind assistance. (Ord.99- 3.40.010 General description of the 025 § 401, 1999) proposed financing methods. 3.40.020 Tax increment funds. The agency is authorized to finance the The taxes levied upon taxable property in project with tax increment funds; interest the project area each year by or for the benefit income; agency bonds; donations; loans from of the state of California, the city of San private financial institutions; proceeds from Leandro, the county of Alameda, any district, the lease or sale of agency -owned property; or other public corporation ( "taxing owner participant or developer loans; use or agencies ") after the effective date of the transient occupancy taxes; participation in ordinance approving the plan, shall be divided development; or with financial assistance as follows: from the city of San Leandro, Alameda A. That portion of the taxes that would be County, the state of California, the federal produced by the rate upon which the tax is government, or any other available source, levied each year by or for each of the taxing public or private. agencies upon the total sum of the assessed The agency is also authorized to obtain value of the taxable property in the project advances, borrow funds, issue bonds, and area as shown upon the assessment roll used • create indebtedness in carrying out the plan. in connection with the taxation of that The principal and interest on such property by the taxing agency, last equalized indebtedness may be paid from tax increments prior to the effective date of the ordinance, or any other funds available to the agency shall be allocated to and when collected shall Public transit sales tax funds and gas tax be paid to the respective taxing agencies as funds or other legally available funds from the 148