CC - 2007-13 - Election to Receive Payment Pursuant to Health and Safety CodeRESOLUTION NO. 2007-13
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ROSEMEAD, CALIFORNIA,, MAKING AN ELECTION TO
RECEIVE PAYMENTS PURUSANT TO HEALTH AND SAFETY
CODE SECTION 33607.5 (B) FOR REDEVELOPMENT PROJECT
AREA NO. 1
WHEREAS, the Community Development Commission of the City of
Rosemead ("Agency") has prepared an amendment to the redevelopment plan
(the "Redevelopment Plan") for Redevelopment Project No. 1 eliminating the time
limit to incur new debt; and
WHEREAS, Section 33333.6 (e)(2) of the Health and Safety Code
provides that if an Agency amends the redevelopment plan to eliminate the time
limit to incur new debt, and no pass through agreement exits, the amounts
required pursuant to subdivisions (b), (c) (d) and (e) of Section 33607.5 must be
paid to each affected taxing entity, including the City, if the City elects to receive
such tax increments; and
WHEREAS, the City of Rosemead is an affected taxing entity under
Section 33607.5;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
ROSEMEAD RESOLVES AS FOLLOWS:
Section 1. Pursuant to Health and Safety Code Sections 33333.6 (e)(2)
and 33607.5, the City Council hereby elects to receive its share of the twenty-five
percent (25%) tax increment pass-through payment authorized by Health and
Safety Code Section 33607.5(b) commencing with the first fiscal year the Agency
is required to make such payments to the affected taxing entities and continuing
each year thereafter.
Section 2. That the City Clerk shall certify to the passage and adoption of
this resolution and enter it into the book of original resolutions.
PASSED, APPROVED AND ADOPTED ON April 24, 2007.
ATTEST:.
-City Clerk
• 0
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS.
CITY OF ROSEMEAD )
I, Nina Castruita, City Clerk of the City of Rosemead, do hereby certify that the
foregoing Resolution No. 2007-13 being:
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ROSEMEAD, CALIFORNIA, MAKING AN ELECTION TO RECEIVE
PAYMENTS PURSUANT TO HEALTH AND SAFETY CODE
SECTION 33607.5 (B) FOR REDEVELOPMENT PROJECT AREA NO.
1
was duly and regularly approved and adopted by the Rosemead City Council on the 24th
of April, 2007, by the following vote to wit:
Yes: Clark, Low, Nunez, Taylor, Tran
No: None
Absent: None
Abstain: None
- AgCL
:Nina Castruita
City Clerk