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• 1.16.010 Chapter 1.16 redevelopment project as shown upon the . assessment roll used in connection with the FINANCING taxation of such property by such taxing agency, last equalized prior to the effective • Sections: date of such ordinance, shall be allocated to 1.16.010 General. and when collected shall be paid to the 1.16.020 Tax increments. respective taxing agencies as taxes by or for 1.16.030 Bonds advances and said taxing agencies on all other property are indebtedness. paid (for the purpose of allocating taxes levied by or for any taxing agency or agencies which 1.16.010 General. did not include the territory of the project on • The agency is authorized to finance this the effective date of such ordinance but to project with financial assistance from the city, which such territory is annexed or otherwise state, federal government of the United States included after such effective date, the of America, property tax increments, special assessment roll last equalized on the effective assessment districts, donations, interest date of said ordinance shall be used in income, agency bonds, loans from private determining the assessed valuation of the financial institutions, the lease of agency- taxable property in the project on said owned property, sale of agency -owned effective date) and; property and/or any other available source. 2. That portion of said levied taxes each (33600, 33601) (Plaza 1 redev. plan § 10(A), year in excess of such amount shall be 1986) allocated to and when collected shall be paid into a special fund of the agency to pay the 1.16.020 Tax increments. principal of and interest on bonds, loans, A. All taxes levied upon taxable property monies advanced to, or indebtedness (whether • within the project area each year by or for the funded, refunded, assumed or otherwise) benefit of the state, county, city any district or incurred by the agency to Finance or refinance, other public corporation (hereinafter in whole or in part, this redevelopment sometimes called "taxing agencies ") after the project. Unless and until the total assessed effective date of the ordinance by which a value of the taxable property in the project redevelopment plan was established for the exceeds the total assessed value of the taxable areas set forth in said ordinance and until such property in the project as shown by the last time as all indebtedness created pursuant to equalized assessment roll referred to in subsection (A)(I) of this section, all of the • Section 1.16.030 of this chapter has been paid, taxes levied and collected upon the taxable shall be divided as follows: 1. That portion of the taxes which would property in the project shall be paid to the • be produced by the rate upon which the tax is respective taxing agencies. When such bonds, levied each year by or for each of said taxing loans, advances and indebtedness, if any, and agencies upon the total sum of the assessed interest thereon. have been paid. all monies value of the taxable property in the thereafter received from taxes upon the taxable property in the project shall be paid to 14