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taxing entity, provided that the affected tax- ing entity has approved these subordina- tions. At the time the agency requests an affected taxing entity to subordinate the amount to be paid to it, the agency shall provide the affected taxing entity with sub- stantial evidence that sufficient funds will be available to pay both the debt service and the payments required, when due. Notwithstanding any other provision of law, the agency may make payments from tax increment funds to an affected taxing entity that is a state water supply contractor in accordance with the provisions of Health and Safety Code Section 33607.8. The payments to be made hereunder are the exclusive payments that are required to be made by the agency to affected taxing entities during the term of the plan. The agency shall reduce its payments to an af- fected taxing entity by any amount the agen- cy has paid, directly or indirectly, pursuant to Health and Safety Code Section 33445, 33445.5, 33445.6, 33446, or any other pro- vision of law for, or in connection with, a public facility in the project area owned or leased by that affected taxing entity. Any reduction in the agency's payment to a school district, community college district, or county office of education, or for special education, shall comply with the applicable requirements of Health and Safety Code Section 33607.5. (Ord. 99-025 § 402.1, 1999) 3.40.040 Agency bonds. The agency is authorized to issue bonds and expend the proceeds from their sale in carrying out the plan. The agency shall use the funds allocated to pay the principal and interest on such bonds as it becomes due and payable. M U I IME The bonds and other obligations of the agency are not a debt of the city, the, state, or any of its political subdivisions and are not payable out of any funds or assets other than those of the agency; and such bonds and other obligations shall so state on their face. Neither do the bonds constitute debt for the purposes of constitutional or statuto- ry debt limitations or restrictions. The total indebtedness of the agency shall not exceed seven hundred fifty million dollars ($750,000,000.00) outstanding at any time. (Ord. 99-025 § 403, 1999) 3.40.050 Time limit on establishing indebtedness. The agency shall not establish loans, ad- vances, and indebtedness to be paid with tax increment funds to finance in whole or in part the project, beyond a date that is twenty years from the date of adoption of the plan. Provided, that the agency may incur debt to be paid from the low- and moderate -income housing fund or establish more debt in order to fulfill the agency's obligation to provide replacement housing pursuant to Health and Safety Code Section 33413. No loans, advances, or indebtedness to be repaid from the allocation of taxes shall be established or incurred by the agency be- yond this twenty (20) year time limitation, unless the agency extends this limitation by amending the plan. The agency may amend the plan to extend the time limitation an ad- ditional ten (10) years if the agency finds, based on substantial evidence, that (i) signif- icant blight remains within the project area; and (ii) this blight cannot be eliminated without establishing additional debt. The limitation on establishment of debt shall not prevent the agency from refinanc- ing, refunding, or restructuring indebtedness 147 (San Leandro Redevelopment Agency Supp. No. 2, 12-05)