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Pursuant to the laws of the State of California, including California Health and Safety Code Sections 34183 and 34170.5(b), the County Auditor -Controller is obligated to deposit the Tax Revenues into the RPTTF. In furtherance of the Indenture and the Dissolution Act, and in accordance with the County Auditor -Controller's obligations as set forth in California Health and Safety Code Section 34183, the Successor Agency shall take all steps to ensure that the County Auditor -Controller (1) deposits the Tax Revenues into the RPTTF, (2) allocates funds for the principal and interest payments due on the Outstanding Bonds and any Parity Debt and any deficiency in the Reserve Account (including amounts due to the issuer of the Reserve Policy) pursuant to each valid ROPS in accordance with the Dissolution Act and as provided in the Indenture, and (3) make the transfers to the Trustee required under the Indenture. The Bonds are special obligations of the Successor Agency. The Bonds do not constitute a debt or liability of the City, the County, the State or of its political subdivision, other than the Successor Agency. The Successor Agency shall only be obligated to pay the principal of the Bonds, or the interest thereon, from the funds described in the Official Statement, and neither the faith and credit nor the taxing power of the City, the County, the State or any of its political subdivisions is pledged to the payment of the principal of or the interest on the Bonds. The Successor Agency has no taxing power. The State Legislature has amended the Dissolution Act several times. The Successor Agency expects, but cannot guarantee, that the processes for funding of enforceable obligations prescribed by any new legislative change in the Dissolution Act will not interfere with its administering of the Tax Revenues in accordance with the Indenture and will effectively result in adequate Tax Revenues for the timely payment of principal of and interest on the Bonds when due. See "THE PROJECT AREA - Tax Sharing Agreements" and "- Statutory Tax Sharing Payments." Redevelopment Property Tax Trust Fund Deposits to the Redevelopment Property Tax Trust Fund. Section 34172 of the Dissolution Act provides that, for purposes of Section 16 of Article XVI of the State Constitution, the RPTTF shall be deemed to be a special fund of the Successor Agency to pay the debt service on indebtedness incurred by the Former Agency or the Successor Agency to finance or refinance the redevelopment projects of the Former Agency. Disbursements from the Redevelopment Property Tax Trust Fund. The Redevelopment Law authorized redevelopment agencies to make payments to Taxing Agencies to alleviate any financial burden or detriments to such Taxing Agencies caused by a redevelopment project. The Former Agency entered into agreements with the Taxing Agencies for this purpose ("Tax Sharing Agreements"). Additionally, Sections 33607.5 and 33607.7 of the Redevelopment Law required mandatory tax sharing applicable to redevelopment projects adopted on or after March I, 1994 or amended after January 1, 1994 in a manner specified in such section (the "Statutory Tax Sharing"). Because the redevelopment projects for each redevelopment plan were merged after March 1, 1994, the Successor Agency is obligated to make Statutory Tax Sharing payments. See "THE PROJECT AREA - Tax Sharing Agreements" and "- Statutory Tax Sharing Payments"). Typically, under the RPTTF distribution provisions of the Dissolution Act, a county auditor -controller is to distribute funds for each six-month period in the following order specified in Section 34183 of the Dissolution Act: (i) first, subject to certain adjustments (as described below) for subordination to the extent permitted under the Dissolution Act (if any, as described below under "THE PROJECT AREA - Tax Sharing Agreements" and "- Statutory Tax Sharing Payments") and no later than each January 2 and June 1, to each local taxing agency and school entity, to the extent applicable, amounts required for pass-through payments such entity would have received under provisions of the Redevelopment Law, as those provisions read on January 1, 2011, including negotiated pass-through agreements and statutory pass-through obligations; 14 SA -3-28