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REL: adg-14 <br />10/30/86 <br /> <br />ORDINANCE NO. NS-1877 <br /> <br />AN ORDINANCE OF THE CITY OF SANTA ANA <br />IMPOSING LIMITS ON THE CENTRAL CITY <br />REDEVELOPMENT PROJECT : <br /> <br /> WHEREAS, the City Council of the City of Santa Ana, <br />by its Ordinance No. NS-1173, dated July 2, 1973, adopted a <br />Redevelopment Plan for the City of Santa Ana Redevelopmen{ <br />Project (hereinafter referred to as the "Central City Re- <br />development Project"); and <br /> <br /> WHEREAS, said Redevelopment Plan was amended by <br />Ordinance No. NS-1258-,. dated June 2, 1975; and <br /> <br /> WHEREAS, said Redevelopment Plan, as amended, expires <br />pursuant to its terms thirty-five (35) years after the date of <br />its adoption, which date is July 2, 2008; and <br /> <br /> WHEREAS, said Redevelopment Plan contains the provisions <br />for tax increment financing in accordance with California Health <br />and Safety Code section 33670; and <br /> <br /> WHEREAS, said Redevelopment Plan does not contain the <br />limitations set forth in California Health and Safety Code <br />section 33333.2 for the reason that the said plan was adopted <br />prior to the enactment of said section; and <br /> <br /> WHEREAS, the Legislature of the State of California, <br />by its 1985 Statutes, Chapter 639, adding section 33333.4 to <br />the California Health and Safety Code, has required every <br />legislative body which adopted a redevelopment pla9 that does <br />not contain the limitations set forth in section 33333.2 to <br />adopt an ordinance containing said limitations; <br /> <br /> NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA <br />ANA DOES ORDAIN AS FOLLOWS: <br /> <br />SECTION 1: The number of dollars of taxes which may be divided <br />and allocated to the Community Redevelopment Agency of the City <br />of Santa Ana pursuant to the Redevelopment Plan for the Central <br />City Redevelopment Project shall not exceed $3,000,000,000. <br /> <br /> <br />