Ordinance No. 752 - Redevelopment Plan for Project Area No. 11
ORDINANCE NO. 752
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AN URGENCY ORDINANCE OF THE CITY COUNCIL OF THE CITY
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OF ROSEMEAD AMENDING PART 6 OF THE REDEVELOPMENT.
PLAN FOR PROJECT AREA NUMBER 1 IN ACCORDANCE WITH
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SECTION 33333.6(e) OF THE COMMUNITY REDEVELOPMENT LAW
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THE CITY COUNCIL OF THE CITY OF ROSEMEAD DOES ORDAIN AS
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FOLLOWS:
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Section 1. The City Council finds, determines and declares:
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This Ordinance is enacted pursuant to the authority of Health and Safety Code
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section 33333.6(e) for the purpose of amending the Redevelopment Plan for Project Area
1, as enacted by Ordinance No. 340 on June 27, 1972, and amended by Ordinance No.
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592 on December 9, 1986, to bring it into conformity with the requirements' of Assem4I
Bill 1290 (1993 Stats., Chapter 942). I l
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Section 2. The Redevelopment Plan, as amended to date, is hereby amended by
adding the provisions at the end of Part 6 to read as follows:
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"FINANCING LIMITATIONS AND DURATION OF REDEVELOPMENT
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PLAN'S EFFECTIVENESS:
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Notwithstanding any provisions of this Plan to the contrary,
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consistent with section 33333.6 of the California Community
Redevelopment Law, the following limitations are imposed on this Plan:
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No loans, advances, or indebtedness to finance, in whole or
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in part, this project and to be repaid from the allocation of
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taxes shall be established or incurred by the Agency after
January 1, 2004, provided, however, that this restriction shall
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not prevent the Agency from incurring debt to be paid from
the Low and Moderate Income Housing fund or to fulfill the
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Agency's housing obligations under section 33413 of the
Community Redevelopment Law.
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This Plan, including the land use and development control
provisions, shall be effective until June 27, 2012. After June
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27, 2012, the Agency shall have no authority to act pursuant
to this Plan except to pay previously incurred indebtedness
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and to enforce existing covenants, contracts or other
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obligations, provided, however, that this prohibition shall not
limit actions designed to eliminate housing program project
Ordinance No.
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deficits or to implement a replacement housing program, as
more particularly authorized by section 33333.6(g) of the
Community Redevelopment Law.
The Agency shall not pay indebtedness or receive property
taxes pursuant to section 33670 after June 27, 2022, the date
that is ten years from the termination bf the effectiveness of
this Plan, provided, however, that this prohibition shall not
limit allocation of taxes for the purpose of eliminating
housing program project deficits or implementing a
replacement housing program, as more particularly
authorized by section 33333.6(g) of the Community
Redevelopment Law, nor shall it limit allocation of taxes to
pay indebtedness incurred prior to January 1, 1994,
including the indebtedness Incurred by Redevelopment
Project Area No. 1 Tax Allocation Bonds, Series 1993A and
Redevelopment Project Area No. 1 Taxable Tax Allocation
Refunding Bonds, Series 1993B."
Section 3. The last sentence of the paragraph added by Section 2 of,Ordinanc'
No. 592, reading "The Agency shall not establish or incur loans, advances or
indebtedness to be repaid from the allocation of taxes from and after 50 years from the
effective date of the ordinance adding this paragraph," is hereby deleted from the Plan.
Section 4. This ordinance is enacted as an urgency ordinance pursuant to ,
Government Code section 36937 and shall take effect immediately. The Council declares
that an urgency ordinance is required because state law requires amendment of
redevelopment plans to effect the changes contained in this ordinance by no later than
December 31, 1994, and the authorization for making such amendments expires on that
date. Because the December 13, 1994 meeting is expected to be the final meeting of the
City Council in this year this ordinance must be adopted as an urgency measure.
Section 5. The City Clerk shall certify to the adoption of this Ordinance and
cause the same to he processed in accordance with state law.
GU December
PASSED, APPROVED and ADOPTED thi y of 1994.
ATTEST: No. 752 was duly and regularly adopted by the
Rosemead City Council ad-an Adjourned Meeting
held.on the 20th day of December, 1994, by th
following vote:
Yes:- Clark, Taylor, Bruesch, Vasquez, Imperi
City Clerk No: N e; Abs nt: None; Abstain: None
City Clerk
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I hereby certify that the foregoing Ordinance
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