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Indenture" and, as supplemented and amended by the 2003 First Supplement and the 2003 Second Supplement, (the "2003 Indenture"). The 2011A Bonds were issued pursuant to an Indenture of Trust, dated as of February 1, 2011 (the "2011 Indenture"), between the Former Agency and the Prior Trustee, as trustee of the 2011A Bonds. See "THE FINANCING PLAN." Tax Allocation Financing Under the Dissolution Act Prior to the enactment of AB XI 26, the Redevelopment Law authorized the financing of redevelopment projects through the use of tax increment revenues. This method provided that the taxable valuation of the property within a redevelopment project area on the property tax roll last equalized prior to the effective date of the ordinance which adopted the redevelopment plan became the base year valuation. Assuming the taxable valuation never drops below the base year level, the Taxing Agencies, as defined in the Official Statement, thereafter received that portion of the taxes produced by applying then current tax rates to the base year valuation, and the redevelopment agency was allocated the remaining portion produced by applying then current tax rates to the increase in valuation over the base year. Such incremental tax revenues allocated to a redevelopment agency were authorized to be pledged to the payment of agency obligations. Under the Dissolution Act, moneys will be deposited from time to time in a Redevelopment Property Tax Trust Fund (the "RPTTF") held by a county auditor -controller with respect to a successor agency, which are equivalent to the tax increment revenues that were formerly allocated under the Redevelopment Law to the redevelopment agency and formerly authorized under the Redevelopment Law to be used for the financing of redevelopment projects using current assessed values on the last equalized roll on August 20 each year. See "SECURITY FOR THE BONDS - Tax Allocation Financing" for additional information. The Dissolution Act authorizes refer ding bonds, including the Bonds, to be secured by a pledge of moneys deposited from time to time in the RPTTF. Tax Revenues, as defined in the Official Statement, pledged to pay the Bonds consist of a portion of the amounts deposited from time to time in the RPTTF established pursuant to and as provided in the Dissolution Act (see "Security for the Bonds" below). The Dissolution Act provides that any bonds authorized thereunder to be issued by the Successor Agency will be considered indebtedness incurred by the Former Agency, with the same legal effect as if the bonds had been issued prior to the effective date of AB Xl 26, in full conformity with the applicable provision of the Redevelopment Law that existed prior to that date, and will be included in the Successor Agency's Recognized Obligation Payment Schedules ("ROPS") (see APPENDIX A — "SUMMARY OF CERTAIN PROVISIONS OF THE INDENTURE - Definitions" and "SECURITY FOR THE BONDS - Recognized Obligation Payment Schedules"). The Redevelopment Project As described in "THE PROJECT AREA" and the sections identified immediately below, the redevelopment project consists of the following "Component Areas" which were merged into a project area (the "Project Area" and also sometimes referred to as the "Redevelopment Project"): • Central City Redevelopment Project; • Inter -City Commuter Station Redevelopment Project; • North Harbor Boulevard Redevelopment Project; • South Harbor Boulevard/Fairview Street Redevelopment Project; SA -3-17