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4 - SA - AGMT - TAXING ENTITIES
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4 - SA - AGMT - TAXING ENTITIES
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2/12/2015 5:42:00 PM
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City Clerk
Doc Type
Agenda Packet
Item #
4
Date
2/17/2015
Destruction Year
2020
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CA Codes (hsc:33600- 33608) <br />project area in the 30th fiscal year in which the agency receives tax <br />increments. <br />(e) (1) Prior to incurring any loans, bonds, or other <br />indebtedness, except loans or advances from the community, the agency <br />may subordinate to the loans, bonds, or other indebtedness the <br />amount required to be paid to an affected taxing entity by this <br />section, provided that the affected taxing entity has approved these <br />subordinations pursuant to this subdivision. <br />(2) At the time the agency requests an affected taxing entity to <br />subordinate the amount to be paid to it, the agency shall provide the <br />affected taxing entity with substantial evidence that sufficient <br />funds will be available to pay both the debt service and the payments <br />required by this section, when due. <br />(3) Within 45 days after receipt of the agency's request, the <br />affected taxing entity shall approve or disapprove the request for <br />subordination. An affected taxing entity may disapprove a request for <br />subordination only if it finds, based upon substantial evidence, <br />that the agency will not be able to pay the debt payments and the <br />amount required to be paid to the affected taxing entity. If the <br />affected taxing entity does not act within 45 days after receipt of <br />the agency's request, the request to subordinate shall be deemed <br />approved and shall be final and conclusive. <br />(f) (1) The Legislature finds and declares both of the following: <br />(A) The payments made pursuant to this section are necessary in <br />order to alleviate the financial burden and detriment that affected <br />taxing entities may incur as a result of the adoption of a <br />redevelopment plan, and payments made pursuant to this section will <br />benefit redevelopment project areas. <br />(B) The payments made pursuant to this section are the exclusive <br />payments that are required to be made by a redevelopment agency to <br />affected taxing entities during the term of a redevelopment plan. <br />(2) Notwithstanding any other provision of law, a redevelopment <br />agency shall not be required, either directly or indirectly, as a <br />measure to mitigate a significant environmental effect or as part of <br />any settlement agreement or judgment brought in any action to contest <br />the validity of a redevelopment plan pursuant to Section 33501, to <br />make any other payments to affected taxing entities, or to pay for <br />public facilities that will be owned or leased to an affected taxing <br />entity. <br />(g) As used in this section, a "local education agency" is a <br />school district, a community college district, or a county office of <br />education. <br />33607.7. (a) This section shall apply to aredevelopment plan. <br />amendment for any redevelopment plans adopted prior to January 1, <br />1994, that increases the limitation on the number of dollars to be <br />allocated to the redevelopment agency or that increases, or <br />eliminates pursuant to paragraph (1) of subdivision (e) of Section' <br />33333.6; the time limit on the establishing of loans, advances, and <br />indebtedness: established pursuant to paragraphs (1) and (2) of <br />subdivision (a) of Section 33333.6, as those paragraphs read on <br />December 31, 2001, or that lengthens the period during which the <br />redevelopment plan is effective if the redevelopment plan being <br />amended contains the provisions required by subdivision (b) of <br />Section 33670. However, this section shall not apply to those <br />redevelopment plans that add new territory. <br />(b) If a redevelopment agency adopts an amendment that is governed <br />by the provisions of this section, it shall pay to each affected <br />Page 5 of 8 <br />EXHIBIT A <br />4 -21 <br />http: / /www.leginfo.ca. gov /cgi- bin/displaycode? section —hsc &group= 33001 - 34000 &file= 336... 7/8/2014 <br />
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