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8 LES 8/23/04 ORDINANCE NO. NS-2662 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SANTA ANA APPROVING AND ADOPTING THE FIFTH AMENDMENT TO THE REDEVELOPMENT PLAN FOR THE BRISTOL CORRIDOR REDEVELOPMENT PROJECT THE CITY COUNCIL OF THE CITY OF SANTA ANA DOES ORDAIN AS FOLLOVVS: Section 1. The City Council of the City of Santa Ana ("City Council") hereby, finds, determines and declares as follows: A. 8 8 The Santa Ana Community Redevelopment Agency ("Agency") is a community redevelopment agency organized and existing under the California Community Redevelopment Law, Health and Safety Code Section 33000, et. seq., ("CRL") and has been authorized to transact business and exercise the powers of a redevelopment agency pursuant to action of the City Council. B. On December 4, 1989, by Ordinance No. NS-2039, the City Council approved and adopted the Redevelopment Plan for the Bristol Corridor Redevelopment Project ("Project Area") and subsequently amended the Redevelopment Plan ("Existing Plan") four (4) times to exempt certain properties from eminent domain, extend plan effectiveness, and establish financial and time limits in compliance with Assembly Bill 1290, Assembly Bill 1342, Senate Bill 1054, and other provisions of the CRL. C. The ordinances adopting the Existing Plan, as amended (collectively, the "Original Ordinances"), including the findings and determinations made by the City Council therein are made part hereof by this reference. D. The Agency is vested with the responsibility to carry out the Existing Plan. E. As a part of this amendment proceeding, the Agency desires to amend the Existing Plan ("Amendment") to merge the Project Area with the Central City, Inter-City Commuter Station, North Harbor, South Harbor, and South Main Redevelopment Projects ("Merged Project Area") to allow the combining of tax increment revenues from each and all of these constituent project areas so that taxes attributable to each constituent project area which are allocated to the Agency pursuant to CRL Section 33670(b) are allocated to the entire Merged Project Area for the purpose of paying principal of, and interest on, indebtedness incurred by the Agency to finance or refinance, in whole or in part, the Merged Project Area; except that any such taxes attributable to any constituent project Ordinance No. NS-2662 Page 1 of 9