1983-13 CRA - Laserfiche WebLink

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, . . . ~ 1 . (5) Transfer the balance of the proceeds from the sale of the Bonds, after making the above deposits, if any, to the Treasurer for deposit in the Redevelopment Fund. C. The moneys set aside in the Redevelopment Fund shall remain there until from time to time expended for the purpose of financing a portion of the costs of the Redevelopment Project Area and other related costs, and also including in such costs: (1) The payment of an amount of money in lieu of taxes as authorized by Section 33401 of the Law in any year during which the Agency owns property in the Redevelopment Project Area, to any city, county, city and county, district or other public corporation which would have levied a tax upon such property had it not been exempt; (2) The cost of any lawful activities in connection with the implementation of the Redevelopment Project Area, including, without limitation, those activities authorized by Section 33445 of the Law; and (3) The necessary expenses in connection with the issuance and sale of the Bonds and fees of the Fiscal Agent and Paying Agents not otherwise paid under paragraph A above. If any sum remains in the Redevelopment Fund after the full accomplishment of the objects and purposes for which the Bonds were issued, that sum shall be transferred to the Special Fund. Moreover, all interest and income earned from the Redevelopment Fund on or prior to the date established by resolution of the Agency shall be retained therein. All of the above uses constitute a "redevelopment activity" as that term is defined in Health and Safety Code Section 33678. Section 14. Tax Revenues. As provided in the Redevelopment Plan, pursuant to Article 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 (herein sometimes collectively called "taxing agencies") after the effective date of the Ordinance approving the Redevelopment Plan (being Ordinance No. 1173 of the City of Santa Ana, which became effective on August 1, 1973, shall be divided as follows: (a) 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 the taxing agencies upon the total sum of the 05-01-83 4439P/2306/00 ~ . 2A -15- 4-:U~