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.. . . ~ . . 2/28/78 Special Fund, as determined by the Agency, upon filing a copy of such determination with the FIscal Agent. Section 17. 1ssuance of Additional Bonds. If at any time the Agency determines that it will not have sufficient moneys available from other sources to pay the costs of the Redevelopment Project, the Agency may provide for the issuance of, and sell, additional tax allocation bonds in such principal amount as it estimates will be needed for such purpose, subject to the following conditions precedent to such sale: (a) The Agency shall be in compliance with all covenants set forth in this Resolution. (b) The Reserve Account, as provided in Section 19 hereof, must be increased, if necessary, by an amount sufficient to maintain the maximum annual debt service on the Bonds and any additional bonds. (c) The additional bonds must mature on April 1 of each year, and interest thereon is to be payable April 1 and October I of each year, except the lint year's interest may be payable at the end of that year. (d) Tax Revenues received or to be received from the most recent equalized assessed valuation of taxable property located in the Redevelopment Project Area (including an allowance for estimated tax revenues to be derived from construction in progress to be completed within 3 years from the date of the additional bonds) are to be at least equal to 1.25 times the assumed average annual debt service (computed on the basis of approximately equal annual payments of principal plus interest) on all series of outstanding Bonds and additional bonds, as evidenced by a report or opinion of an Independent FInancial Consultant employed by the Agency. For purposes of this computation, taxable property shall include assessed valuations of property exempt from local property taxation by reason of the homeownen' and business inventories exemp- tions or any other exemption hereinafter enacted by the legislature of the State of California or initiated by judicial decision to the extent that in lieu payments are made to the Agency for such exemptions. (e) The Agency must have received all required approvals of any governmental authority having jurisdiction over the additional bonds or their terms. Section 18. Tax Revcnnes. As provided in the ,Redevelopment Pian pursuant to Article 6 of Chapter 6 of the Law .and Section 16 of Article XVI of the Constitution of the State of California, taxes levied upon taxable property in the Redevelopment Project Area each year by or for the benefit of the State of California, any city, county, city and county, district, or other public corporation (hereinafter sometimes called "taxing agencies") after the effective date of the ordinance approving the . Redevelopment Plan (being Ordinance No. 1173, adopted by the City Council of the City of Santa Ana on July 2, 1973, which ordinance became effective on August I, 1973) and upon taxable property added to the Redevelopment Project Area by an ordinance amending the Redevelopment Plan (being Ordinance No. 1258, adopted by the City Council of the City of Santa Ana on June 2, 1975, which ordinance became effective on July 2, 1975) shall be divided as follows: (1) That portion of the taxes which would be produced by the rate upon which the tax is levied each year by or for each of said taxing agencies upon the total sum of the assessed value of the taxable property in the Redevelopment Project Area as shown upon the assessment roll used in connection with the taxation of such property by such taxing agency last equa1ized prior to August 1, 1973 (being the effective date of Ordinance No. 1173 referred to above) and the taxable property added to the Redevelopment Project Area as shown upon the assessment roll used in connection with the taxation of such property by such taxing agency last equalized prior to July 2, 1975 (being the effective date of Ordinance No. 1258 referred to above) shall be 8