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Page 5 of 5 <br />It is the intent of this part that pledges of revenues associated with <br />enforceable obligations of the former redevelopment agencies are to <br />be honored. It is intended that the cessation of any redevelopment <br />agency shall not affect either the pledge, the legal existence of that <br />pledge, or the stream of revenues available to meet the requirements <br />of the pledge. <br />Section 34174(a) provides further support for the conclusion that the obligation to pay the <br />Fees is an enforceable obligation protected by the Dissolution Act: <br />[N]othing herein is intended to absolve the successor agency of <br />payment or other obligations due or imposed pursuant to the <br />enforceable obligations; and provided further, that nothing in the act <br />adding this part is intended to be construed as an action or <br />circumstance that may give rise to an event of default under any of <br />the documents governing the enforceable obligations. <br />The legislature was clearly mindful that the Dissolution Act would be unconstitutional if it <br />impaired existing contractual obligations of the Former Agency. 14 <br />14 See footnote [5], above. <br />SA Resolution No. 2012-007 <br />Page 19 of 24