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1.36.030
<br />agency shall not be allocated nor paid any
<br />portion of such taxes collected from the fol-
<br />lowing properties, designated by their current
<br />assessor's parcel numbers as 77A-675-3, 77A-
<br />675-4-3, 77A-675-4-9, 77A-675-4-15, 77A-
<br />675-4-18, 77A-675-4-19, 77A-675-5-2, 77A-
<br />675-5-6, 77A-675-6-3, 77A-675-7, 77A-675-
<br />8-3, 77A-675-11, and 77A-675-12. These
<br />properties, which shall not be subject to cap-
<br />ture of tax increment by the agency, are
<br />shown as Sub -Area D-1 in Exhibit
<br />1.24.010(B).
<br />C. The portion of taxes mentioned in sub-
<br />section (A)(2) of this section collected by the
<br />agency are hereby irrevocably pledged for the
<br />payment of the principal of and interest on the
<br />advance of monies, or making of loans, or the
<br />incurring of any indebtedness (whether
<br />funded, refunded, assumed or otherwise) by
<br />the agency to finance or refinance the project
<br />in whole or in part.
<br />D. The agency is authorized to make such
<br />pledges as to specific advances, loans and in-
<br />debtedness as appropriate in carrying out the
<br />project.
<br />E. The number of dollars of taxes which
<br />may be divided and allocated to the agency
<br />pursuant to this plan shall not exceed eighty-
<br />seven million five hundred thousand dollars
<br />($87,500,000), inclusive of the housing set -
<br />aside funds required by Section 33334.2 and
<br />replacement housing obligations created in
<br />accordance with Section 33413 of the Com-
<br />munity Redevelopment Law. Taxes shall not
<br />be divided and shall not be allocated to the
<br />agency beyond said limitation without an
<br />amendment to this plan.
<br />F. As to the tax increment generated
<br />within the project area, no loans, advances or
<br />indebtedness shall be established or incurred
<br />in the original project area and Areas 2
<br />through 4 after January 1, 2004, and no loans,
<br />(San Leandro Redevelopment Agency Supp, No. I, 10-04) 46
<br />advances or indebtedness shall be established
<br />or incurred in Area 5 (A-D) after July 5, 2008.
<br />These limits, however shall not prevent incur-
<br />ring debt to be paid from the low- and moder-
<br />ate -income housing fund or establishing more
<br />debt in order to fulfill the agency's housing
<br />obligations in accordance with state law. The
<br />time limitation set forth herein may be ex-
<br />tended only by amendment of this plan and in
<br />accordance with state law.
<br />Pursuant to Section 33333.2 of the Health
<br />and Safety Code, loans, advances, or other
<br />indebtedness, except those used for affordable
<br />housing activities, must be repaid no later than
<br />January 1, 2020 for the original project area;
<br />December 17, 2030 for Area 2; March 30,
<br />2032 for Area 3; November 29, 2033 for Area
<br />4; and July 5, 2039 for Area 5 (A—D). (Ord.
<br />2003-019 § 1 (part), 2003; Ord. 94-019 § 1,
<br />1994; Plaza 2 redev. Plan § 11(B), 1988)
<br />1.36.030 Bonds, advances and
<br />indebtedness.
<br />The agency is authorized to issue bonds if
<br />appropriate and feasible in an amount suffi-
<br />cient to finance all or any part of the project.
<br />The agency is authorized to obtain ad-
<br />vances, borrow funds and create indebtedness
<br />in carrying out this plan. The principal and
<br />interest on such advances, fiends and indebt-
<br />edness may be paid from tax increments or
<br />any other fiends available to the agency.
<br />Neither tile members of the agency nor any
<br />persons executing the bonds are liable person-
<br />ally on the bonds by reason of their issuance.
<br />The bonds and other obligations of the
<br />agency are not a debt of the city, the state, nor
<br />are any of its political subdivisions liable for
<br />them, nor in any event shall the bonds or obli-
<br />gations be payable out of any fiends or proper-
<br />ties other than those of the agency; and such
<br />bonds and other obligations shall so state on
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