Deed - Carpentier St - File 1358, 2001-0806

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the respective taxing agencies as taxes on all other property paid. (33670) B. The portion of taxes mentioned in subsection (A)(2) of this section are irrevo- cably pledged for the payment of the princi- pal and interest on the advance of monies, or making of loans, or the incurring of any in- debtedness (whether funded, refunded, as- sumed or otherwise) by the agency to fi- nance or refinance the project in whole or in part. C. The agency is authorized to make such pledges as to specific advances, loans, and indebtedness as appropriate in carrying out the plan. D. The number of dollars of taxes which may be divided and allocated to the agency pursuant to the plan shall not exceed seven million five hundred thirty-seven thousand six hundred and fifty-seven dollars ($7,537,657.00), exclusive of the housing setaside funds required by Section 33334.2 of the Community Redevelopment Law. Taxes shall not be divided and shall not be allocated to the Agency beyond said limita- tion without an amendment to this plan. (33333.4[1]) (Plaza 1 redev. plan § 10(B), 1986) 1.16.030 Bonds advances and indebtedness. The agency is authorized to issue bonds if appropriate and feasible in an amount suf- ficient to finance all or any part of the pro- ject. (33341) The agency is authorized to obtain ad- vances, borrow funds and create indebted- ness in carrying out this plan. The principal and interest on such advances, funds and indebtedness may be paid from tax incre- ments or any other funds available to the agency. (33601, 33671) 1.16.030 Neither the members of the agency nor any persons executing the bonds are liable personally on the bonds by reason of their issuance. (33643) The bonds and other obligations of the agency are not a debt of the city, the state, nor are any of its political subdivisions li- able for them, nor in any event shall the bonds or obligations be payable out of any funds or properties other than those of the agency; and such bonds and other obliga- tions shall so state on their face. The bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. (33644) The agency shall not establish or incur loans, advances or indebtedness to finance, in whole or in part, the redevelopment pro- ject after the plan termination date as set forth in Section 1.04.080 of this title without amending this plan. This limit, however shall not prevent incurring debt to be paid from the low- and moderate -income housing fund or establishing more debt in order to fulfill the agency's housing obligations in accordance with state law. Pursuant to Section 33333.6 of the Health and Safety Code, receipt of tax in- crement to finance, in whole or in part, the redevelopment project will terminate as of December 28, 2008, except to the extent that debt incurred prior to January 1, 1994 re- quires repayment and that the agency must fulfill certain affordable housing obligations. Repayment of debt established prior to Janu- ary 1, 1994 must be repaid by December 28, 2026 pursuant to Sections 33333.6(h) and 33670 of the State Health and Safety Code. (Ord. 2005-009 § 1(B); Ord. 2003-019 § 1 (part), 2003; Ord. 94-018 § 1, 1994; Plaza 1 redev. Plan § 10(C), 1986) 15 (San Leandro Redevelopment Agency Supp. No. 2. 12-05)