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HEALTH AND SAFETY CODE
SECTION 33680-33683

33680. (a) The Legislature finds and declares that the effectuation
of the primary purposes of the Community Redevelopment Law,
including job creation, attracting new private commercial
investments, the physical and social improvement of residential
neighborhoods, and the provision and maintenance of low- and
moderate-income housing, is dependent upon the existence of an
adequate and financially solvent school system which is capable of
providing for the safety and education of students who live within
both redevelopment project areas and housing assisted by
redevelopment agencies. The attraction of new businesses to
redevelopment project areas depends upon the existence of an
adequately trained work force, which can only be accomplished if
education at the primary and secondary schools is adequate and
general education and job training at community colleges is
available. The ability of communities to build residential
development and attract residents in redevelopment project areas
depends upon the existence of adequately maintained and operating
schools serving the redevelopment project area. The development and
maintenance of low- and moderate-income housing both within
redevelopment project areas and throughout the community can only be
successful if adequate schools exist to serve the residents of this
housing.
(b) Redevelopment agencies have financially assisted schools which
benefit and serve the project area by paying part or all of land and
the construction of school facilities and other improvements
pursuant to the authority in Section 33445. Redevelopment agencies
have financially assisted schools to alleviate the financial burden
or detriment caused by the establishment of redevelopment project
areas pursuant to the authority in Sections 33401 and 33445.5. Funds
also have been allocated to schools and community colleges pursuant
to the authority in Section 33676.
(c) The Legislature further finds and declares that, because of
the reduced funds available to the state to assist schools and
community colleges which benefit and serve redevelopment project
areas during the 1992-93, 1993-94, and 1994-95 fiscal years, it is
necessary for redevelopment agencies to make additional payments to
assist the programs and operations of these schools and colleges in
order to ensure that the objectives stated in this section can be
met. The Legislature further finds and declares that the payments to
schools and community college districts pursuant to Section 33681
are of benefit to redevelopment project areas.


33681. (a) (1) During the 1992-93 fiscal year, a redevelopment
agency shall remit, prior to May 10, 1993, an amount equal to the
amount determined for that agency pursuant to subparagraph (D) of
paragraph (2) to the county auditor for deposit in the Educational
Revenue Augmentation Fund created pursuant to Section 97.03 of the
Revenue and Taxation Code.
(2) For the 1992-93 fiscal year, on or before October 1, 1992, the
Director of Finance shall do each of the following:
(A) Determine the total amount of property taxes apportioned to
each agency pursuant to Section 33670, including any amounts
apportioned to affected taxing agencies pursuant to Section 33401 or
33676, in the 1990-91 fiscal year.
(B) Determine the total amount of property taxes apportioned to
all agencies pursuant to Section 33670, including any amounts
apportioned to affected taxing agencies pursuant to Section 33401 or
33676, in the 1990-91 fiscal year.
(C) Determine a percentage factor by dividing two hundred five
million dollars ($205,000,000) by the amount determined pursuant to
subparagraph (B).
(D) Determine an amount for each agency by multiplying the amount
determined pursuant to subparagraph (A) by the percentage factor
determined pursuant to subparagraph (C).
(E) Notify each agency and each legislative body of the amount
determined pursuant to subparagraph (D).
(F) Notify each county auditor of the amounts determined pursuant
to subparagraph (D) for each agency in his or her county.
(b) (1) Notwithstanding Sections 33334.2, 33334.3, and 33334.6,
and any other provision of law, in order to make the full allocation
required by this section, an agency may borrow up to 50 percent of
the amount required to be allocated to the Low- and Moderate-Income
Housing Fund pursuant to Sections 33334.2, 33334.3, and 33334.6
during the 1992-93 fiscal year, unless executed contracts exist that
would be impaired if the agency reduced the amount allocated to the
Low- and Moderate-Income Housing Fund pursuant to the authority of
this section.
(2) As a condition for borrowing pursuant to this subdivision, an
agency shall make a finding that there are insufficient other moneys
to meet the requirements of subdivision (a). Funds borrowed pursuant
to this subdivision shall be repaid in full on or before June 30,
2003, unless the agency is, on or before June 30, 2003, required by
law to make a further payment to an Educational Revenue Augmentation
Fund in the 2002-03 fiscal year, in which case the date for repayment
of the loan borrowed pursuant to this subdivision shall be delayed
by one year for each fiscal year, commencing with the 2002-03 fiscal
year, that the agency is required to make this further payment.
(c) In order to make the allocation required by this section, an
agency may use any funds that are legally available and not legally
obligated for other uses, including, but not limited to, reserve
funds, proceeds of land sales, proceeds of bonds or other
indebtedness, lease revenues, interest, and other earned income. No
moneys held in a low- and moderate-income fund as of July 1, 1992,
may be used for this purpose.
(d) The legislative body shall, by March 1, 1993, report to the
county auditor as to how the agency intends to fund the allocation
required by this section.
(e) The allocation obligations imposed by this section, including
amounts owed, if any, created under this section, are hereby declared
to be an indebtedness of the redevelopment project to which they
relate, payable from taxes allocated to the agency pursuant to
Section 33670, and shall constitute an indebtedness of the agency
with respect to the redevelopment project until paid in full.
(f) It is the intent of the Legislature, in enacting this section,
that these allocations directly or indirectly assist in the
financing or refinancing, in whole or in part, of the community's
redevelopment projects pursuant to Section 16 of Article XVI of the
California Constitution.
(g) It is the intent of the Legislature in enacting this section
that this section supersede and be operative in place of Section
33681 of the Health and Safety Code as added by Senate Bill 617 of
the 1991-92 Regular Session.
(h) This section shall be operative only until July 1, 2003. This
section shall remain in effect only until January 1, 2004, and as of
that date is repealed.

33681.3. (a) For any agency that, pursuant to Section 33401 or
33676, paid or allocated to the county in the 1990-91 fiscal year 33
percent or more of the total amount of property taxes apportioned to
the agency pursuant to Section 33670, the Director of Finance shall,
within 10 days of the effective date of the act that adds this
section, recalculate the amount required to be remitted by the agency
to the county auditor, pursuant to subdivision (a) of Section 33681,
for deposit in the Educational Revenue Augmentation Fund created
pursuant to Section 97.03 of the Revenue and Taxation Code.
(b) The Director of Finance shall do all of the following:
(1) Determine the total amount of property taxes paid or allocated
to the requesting agency pursuant to Section 33670, including any
amounts paid or allocated to affected taxing agencies pursuant to
Section 33401 and 33676.
(2) Determine the total amount of property taxes that remain with
the agency after the agency has appropriated property taxes to the
county pursuant to Section 33401 or 33676.
(3) Determine the percentage factor of property taxes that remain
with the agency after the agency has appropriated property taxes to
the county pursuant to Section 33401 or 33676.
(4) Determine a new amount for the agency by multiplying the
amount determined pursuant to subdivision (a) of Section 33681 by the
percentage factor determined pursuant to paragraph (3) if that
percentage is less than 67.
(5) Determine an amount for the county by subtracting the amount
determined pursuant to paragraph (4) from the amount determined
pursuant to subdivision (a) of Section 33681.
(6) Notify each agency, each legislative body, and each affected
county of the respective amounts determined pursuant to paragraphs
(4) and (5).
(7) Notify each county auditor of the amounts determined pursuant
to paragraphs (4) and (5) for each agency and the county in his or
her county.
(c) For the 1992-93 fiscal year, a county shall allocate, within
30 days of the effective date of the act that adds this section, to
the county auditor for deposit in the Educational Revenue
Augmentation Fund created pursuant to Section 97.03 of the Revenue
and Taxation Code, an amount equal to the amount determined pursuant
to paragraph (5) of subdivision (b). This allocation shall be in
addition to any other allocation required by statute, including but
not limited to allocations required pursuant to Section 97.03 of the
Revenue and Taxation Code.
(d) (1) For the purpose of making the determinations required by
subdivision (b), the Director of Finance shall use the amounts
reported in the Controller's Annual Report on Financial Transactions
Concerning Community Redevelopment Agencies for the 1990-91 fiscal
year. In the event that revised reports have been accepted by the
Controller, the Director of Finance shall use appropriate data that
has been certified by the Controller.
(2) For the purposes of making the determination that an agency
qualifies pursuant to subdivision (a) and of making the
determinations required by subdivision (b), the Director of Finance
shall use the total property tax amounts for the agencies involved,
rather than the amounts of individual project area agreements.
(e) The Director of Finance shall transfer from the Educational
Revenue Augmentation Fund to an agency any amount that he or she
determines to be owed from the fund to that agency pursuant to the
requirements of subdivision (b).
(f) This section shall be operative only until July 1, 2003. This
section shall remain in effect only until January 1, 2004, and as of
that date is repealed.

33681.5. (a) (1) During each of the 1993-94 and 1994-95 fiscal
years, a redevelopment agency shall remit prior to May 10 an amount
equal to the amount determined for that agency pursuant to
subparagraph (D) of paragraph (2) to the county auditor for deposit
in the Educational Revenue Augmentation Fund created pursuant to
Section 97.03 of the Revenue and Taxation Code.
(2) For each of the 1993-94 and 1994-95 fiscal years, on or before
October 1, the Director of Finance shall do each of the following:
(A) Determine the net tax increment apportioned to each agency
pursuant to Section 33670, excluding any amounts apportioned to
affected taxing agencies pursuant to Section 33401 or 33676, in the
1990-91 fiscal year.
(B) Determine the net tax increment apportioned to all agencies
pursuant to Section 33670, excluding any amounts apportioned to
affected taxing agencies pursuant to Section 33401 or 33676, in the
1990-91 fiscal year.
(C) Determine a percentage factor by dividing sixty-five million
dollars ($65,000,000) by the amount determined pursuant to
subparagraph (B).
(D) Determine an amount for each agency by multiplying the amount
determined pursuant to subparagraph (A) by the percentage factor
determined pursuant to subparagraph (C).
(E) Notify each agency and each legislative body of the amount
determined pursuant to subparagraph (D).
(F) Notify each county auditor of the amounts determined pursuant
to subparagraph (D) for each agency in his or her county.
(b) (1) Notwithstanding Sections 33334.2, 33334.3, and 33334.6,
and any other provision of law, in order to make the full allocation
required by this section, an agency may borrow up to 50 percent of
the amount required to be allocated to the Low- and Moderate-Income
Housing Fund pursuant to Sections 33334.2, 33334.3, and 33334.6
during the 1993-94 and 1994-95 fiscal years, unless executed
contracts exist that would be impaired if the agency reduced the
amount allocated to the Low- and Moderate-Income Housing Fund
pursuant to the authority of this section.
(2) As a condition of borrowing pursuant to this subdivision, an
agency shall make a finding that there are insufficient other moneys
to meet the requirements of subdivision (a). Funds borrowed pursuant
to this subdivision shall be repaid in full on or before June 30,
2004, unless the agency is, on or before June 30, 2003, required by
law to make a further payment to an Educational Revenue Augmentation
Fund in the 2002-03 fiscal year, in which case the date for repayment
of the loan borrowed pursuant to this subdivision shall be delayed
by one year for each fiscal year, commencing with the 2002-03 fiscal
year, that the agency is required to make this further payment.
(c) In order to make the allocation required by this section, an
agency may use any funds that are legally available and not legally
obligated for other uses, including, but not limited to, reserve
funds, proceeds of land sales, proceeds of bonds or other
indebtedness, lease revenues, interest, and other earned income. No
moneys held in a low- and moderate-income fund as of July 1 of that
fiscal year may be used for this purpose.
(d) The legislative body shall by March 1 report to the county
auditor as to how the agency intends to fund the allocation required
by this section.
(e) The allocation obligations imposed by this section, including
amounts owed, if any, created under this section, are hereby declared
to be an indebtedness of the redevelopment project to which they
relate, payable from taxes allocated to the agency pursuant to
Section 33670, and shall constitute an indebtedness of the agency
with respect to the redevelopment project until paid in full.
(f) It is the intent of the Legislature, in enacting this section,
that these allocations directly or indirectly assist in the
financing or refinancing, in whole or in part, of the community's
redevelopment projects pursuant to Section 16 of Article XVI of the
California Constitution.
(g) For the purpose of making the determinations required by
subdivision (a), the Director of Finance shall use those amounts
reported as the "net tax increment to agency" for all agencies and
for each agency in Table 6 of the 1990-91 fiscal year Controller's
Annual Report on Financial Transactions Concerning Community
Redevelopment Agencies of California.
(h) In the event that revised reports have been accepted by the
Controller on or before January 1, 1994, the Director of Finance
shall use appropriate data that has been certified by the Controller
for the purpose of making the determinations required by subdivision
(a). If this subdivision requires the Director of Finance to revise
the determinations for the 1993-94 and 1994-95 fiscal years, the
director shall not make those changes for the 1993-94 fiscal year,
but instead shall apply the revised determinations for both fiscal
years to the 1994-95 fiscal year.
(i) This section shall be operative only until July 1, 2004. This
section shall remain in effect only until January 1, 2005, and as of
that date is repealed.

33681.6. Notwithstanding any other provision of this article to the
contrary, the amount determined pursuant to subparagraphs (A) and
(B) of paragraph (2) of subdivision (a) of Section 33681.5 shall not
include any tax increment apportioned to the downtown project area of
a charter city meeting all of the criteria specified in Section
33608.

33681.7. (a) (1) During the 2002-03 fiscal year, a redevelopment
agency shall, prior to May 10, remit an amount equal to the amount
determined for that agency pursuant to subparagraph (I) of paragraph
(2) to the county auditor for deposit in the county's Educational
Revenue Augmentation Fund created pursuant to Article 3 (commencing
with Section 97) of Chapter 6 of Part 0.5 of Division 1 of the
Revenue and Taxation Code.
(2) For the 2002-03 fiscal year, on or before October 1, the
Director of Finance shall do all of the following:
(A) Determine the net tax increment apportioned to each agency
pursuant to Section 33670, excluding any amounts apportioned to
affected taxing agencies pursuant to Section 33401 or 33676, in the
2000-01 fiscal year.
(B) Determine the net tax increment apportioned to all agencies
pursuant to Section 33670, excluding any amounts apportioned to
affected taxing agencies pursuant to Section 33401 or 33676, in the
2000-01 fiscal year.
(C) Determine a percentage factor by dividing thirty-seven million
five hundred thousand dollars ($37,500,000) by the amount determined
pursuant to subparagraph (B).
(D) Determine an amount for each agency by multiplying the amount
determined pursuant to subparagraph (A) by the percentage factor
determined pursuant to subparagraph (C).
(E) Determine the total amount of property tax revenue apportioned
to each agency pursuant to Section 33670, including any amounts
apportioned to affected taxing agencies pursuant to Section 33401 or
33676, in the 2000-01 fiscal year.
(F) Determine the total amount of property tax revenue apportioned
to all agencies pursuant to Section 33670, including any amounts
apportioned to affected taxing agencies pursuant to Section 33401 or
33676, in the 2000-01 fiscal year.
(G) Determine a percentage factor by dividing thirty-seven million
five hundred thousand dollars ($37,500,000) by the amount determined
pursuant to subparagraph (F).
(H) Determine an amount for each agency by multiplying the amount
determined pursuant to subparagraph (E) by the percentage factor
determined pursuant to subparagraph (G).
(I) Add the amount determined pursuant to subparagraph (D) to the
amount determined pursuant to subparagraph (H).
(J) Notify each agency and each legislative body of the amount
determined pursuant to subparagraph (I).
(K) Notify each county auditor of the amounts determined pursuant
to subparagraph (I) for each agency in his or her county.
(b) (1) Notwithstanding Sections 33334.2, 33334.3, and 33334.6,
and any other provision of law, in order to make the full allocation
required by this section, an agency may borrow up to 50 percent of
the amount required to be allocated to the Low and Moderate Income
Housing Fund pursuant to Sections 33334.2, 33334.3, and 33334.6
during the 2002-03 fiscal year, unless executed contracts exist that
would be impaired if the agency reduced the amount allocated to the
Low and Moderate Income Housing Fund pursuant to the authority of
this subdivision.
(2) As a condition of borrowing pursuant to this subdivision, an
agency shall make a finding that there are insufficient other moneys
to meet the requirements of subdivision (a). Funds borrowed pursuant
to this subdivision shall be repaid in full within 10 years
following the date on which moneys were borrowed.
(c) In order to make the allocation required by this section, an
agency may use any funds that are legally available and not legally
obligated for other uses, including, but not limited to, reserve
funds, proceeds of land sales, proceeds of bonds or other
indebtedness, lease revenues, interest, and other earned income. No
moneys held in a low- and moderate-income fund as of July 1 of that
fiscal year may be used for this purpose.
(d) The legislative body shall by March 1 report to the county
auditor as to how the agency intends to fund the allocation required
by this section.
(e) The allocation obligations imposed by this section, including
amounts owed, if any, created under this section, are hereby declared
to be an indebtedness of the redevelopment project to which they
relate, payable from taxes allocated to the agency pursuant to
Section 33670, and shall constitute an indebtedness of the agency
with respect to the redevelopment project until paid in full.
(f) It is the intent of the Legislature, in enacting this section,
that these allocations directly or indirectly assist in the
financing or refinancing, in whole or in part, of the community's
redevelopment projects pursuant to Section 16 of Article XVI of the
California Constitution.
(g) In making the determinations required by subdivision (a), the
Director of Finance shall use those amounts reported as the "Tax
Increment Retained by Agency" for all agencies and for each agency in
Table 7 of the 2000-01 fiscal year Controller's State of California
Community Redevelopment Agencies Annual Report.
(h) If revised reports have been accepted by the Controller on or
before January 1, 2003, the Director of Finance shall use appropriate
data that has been certified by the Controller for the purpose of
making the determinations required by subdivision (a).

33681.8. (a) (1) For the purposes of this section, "existing
indebtedness" means one or more of the following obligations incurred
by a redevelopment agency prior to the effective date of this
section, the payment of which is to be made in whole or in part,
directly or indirectly, out of taxes allocated to the agency pursuant
to Section 33670, and that is required by law or provision of the
existing indebtedness to be made during the fiscal year of the
relevant allocation required by Section 33681.7:
(A) Bonds, notes, interim certificates, debentures, or other
obligations issued by the agency, whether funded, refunded, assumed,
or otherwise, pursuant to Article 5 (commencing with Section 33640).

(B) Loans or moneys advanced to the agency, including, but not
limited to, loans from federal, state, or local agencies, or a
private entity.
(C) A contractual obligation that, if breached, could subject the
agency to damages or other liabilities or remedies.
(D) An obligation incurred pursuant to Section 33445.
(E) Indebtedness incurred pursuant to Section 33334.2.
(F) An amount, to be expended for the operation and administration
of the agency, that may not exceed 90 percent of the amount spent
for those purposes in the 2000-01 fiscal year.
(G) Obligations imposed by law with respect to activities that
occurred prior to the effective date of the act that adds this
section.
(2) Existing indebtedness incurred prior to the effective date of
this section may be refinanced, refunded, or restructured after that
date, and shall remain existing indebtedness for the purposes of this
section, if the annual debt service during that fiscal year does not
increase over the prior fiscal year and the refinancing does not
reduce the ability of the agency to make the payment required by
subdivision (a) of Section 33681.7.
(3) For the purposes of this section, indebtedness shall be deemed
to be incurred prior to the effective date of this section if the
agency has entered into a binding contract subject to normal
marketing conditions, to deliver the indebtedness, or if the
redevelopment agency has received bids for the sale of the
indebtedness prior to that date and the indebtedness is issued for
value and evidence thereof is delivered to the initial purchaser no
later than 30 days after the date of the contract or sale.
(b) During the 2002-03 fiscal year, an agency that has adopted a
resolution pursuant to subdivision (c) may, pursuant to subdivision
(a) of Section 33681.7, allocate to the auditor less than the amount
required by subdivision (a) of Section 33681.7, if the agency finds
that either of the following has occurred:
(1) That the difference between the amount allocated to the agency
and the amount required by subdivision (a) of Section 33681.7 is
necessary to make payments on existing indebtedness that are due or
required to be committed, set aside, or reserved by the agency during
the applicable fiscal year and that are used by the agency for that
purpose, and the agency has no other funds that can be used to pay
this existing indebtedness, and no other feasible method to reduce or
avoid this indebtedness.
(2) The agency has no other funds to make the allocation required
by subdivision (a) of Section 33681.7.
(c) (1) Any agency that, pursuant to subdivision (b), allocates to
the auditor less than the amount required by subdivision (a) of
Section 33681.7 shall adopt, prior to December 31, 2002, after a
noticed public hearing, a resolution that lists all of the following:

(A) Each existing indebtedness incurred prior to the effective
date of this section.
(B) Each indebtedness on which a payment is required to be made
during the 2002-03 fiscal year.
(C) The amount of each payment, the time when it is required to be
paid, and the total of the payments required to be made during the
2002-03 fiscal year. For indebtedness that bears interest at a
variable rate, or for short-term indebtedness that is maturing during
the fiscal year and that is expected to be refinanced, the amount of
payments during the fiscal year shall be estimated by the agency.
(2) The information contained in the resolution required by this
subdivision shall be reviewed for accuracy by the chief fiscal
officer of the agency.
(3) The legislative body shall additionally adopt the resolution
required by this section.
(d) (1) Any agency that, pursuant to subdivision (b), determines
that it will be unable in the 2002-03 fiscal year, to allocate the
full amount required by subdivision (a) of Section 33681.7 shall,
subject to paragraph (3), enter into an agreement with the
legislative body by February 15, 2003, to fund the payment of the
difference between the full amount required to be paid pursuant to
subdivision (a) of Section 33681.7 and the amount available for
allocation by the agency.
(2) The obligations imposed by paragraph (1) are hereby declared
to be indebtedness incurred by the redevelopment agency to finance a
portion of a redevelopment project within the meaning of Section 16
of Article XVI of the California Constitution. This indebtedness
shall be payable from tax revenues allocated to the agency pursuant
to Section 33670, and any other funds received by the agency. The
obligations imposed by paragraph (1) shall remain an indebtedness of
the agency to the legislative body until paid in full, or until the
agency and the legislative body otherwise agree.
(3) The agreement described in paragraph (1) shall be subject to
these terms and conditions specified in a written agreement between
the legislative body and the agency.
(e) If the agency fails, under either Section 33681.7 or
subdivision (d), to transmit the full amount of funds required by
Section 33681.7, is precluded by court order from transmitting that
amount, or is otherwise unable to meet its full obligation pursuant
to Section 33681.7, the county auditor, by no later than May 15,
2003, shall transfer any amount necessary to meet the obligation
determined for that agency in subparagraph (D) of paragraph (2) of
subdivision (a) of Section 33681.7 from the legislative body's
property tax allocation pursuant to Chapter 6 (commencing with
Section 95) of Part 0.5 of Division 1 of the Revenue and Taxation
Code.

33682. (a) (1) For the purposes of this section, "existing
indebtedness" means one or more of the following obligations incurred
by a redevelopment agency prior to the effective date of the statute
that adds this chapter, the payment of which is to be made in whole
or in part, directly or indirectly, out of taxes allocated to the
agency pursuant to Section 33670, and which is required by law or
provision of the existing indebtedness to be made during the 1992-93
fiscal year:
(A) Bonds, notes, interim certificates, debentures, or other
obligations issued by an agency (whether funded, refunded, assumed,
or otherwise) pursuant to Article 5 (commencing with Section 33640).

(B) Loans or moneys advanced to the agency, including, but not
limited to, loans from federal, state, or local agencies, or a
private entity.
(C) A contractual obligation which, if breached, could subject the
agency to damages or other liabilities or remedies.
(D) An obligation incurred pursuant to Section 33445.
(E) Indebtedness incurred pursuant to Section 33334.2.
(F) An amount, to be expended for the operation and administration
of the agency, which may not exceed 90 percent of the amount spent
for those purposes in the 1991-92 fiscal year.
(G) Obligations imposed by law with respect to activities which
occurred prior to the effective date of the act that adds this
chapter.
(2) Existing indebtedness incurred prior to the effective date of
the statute that adds this article may be refinanced, funded, or
restructured after that date, and shall remain existing indebtedness
for the purposes of this section, if the annual debt service during
the 1992-93 fiscal year does not increase and the refinancing does
not reduce the ability of the agency to make the payment required by
subdivision (a) of Section 33681.
(3) For the purposes of this section, indebtedness shall be deemed
to be incurred prior to the effective date of this chapter if the
agency has entered into a binding contract subject to normal
marketing conditions, to deliver the indebtedness, or if the
redevelopment agency has received bids for the sale of the
indebtedness prior to that date and the indebtedness is issued for
value and evidence thereof is delivered to the initial purchaser no
later than 30 days after the date of the contract or sale.
(b) (1) During the 1992-93 fiscal year, an agency that has adopted
a resolution pursuant to subdivision (c) may allocate to the school
and community college districts less than the amount required by
subdivision (a) of Section 33681, if the agency finds that either of
the following has occurred:
(A) That the difference between the amount allocated and the
amount required by subdivision (a) of Section 33681 is necessary to
make payments on existing indebtedness that are due or required to be
committed, set aside, or reserved by the agency during the 1992-93
fiscal year and that are used by the agency for that purpose, and the
agency has no other funds that can be used to pay this existing
indebtedness.
(B) The agency has no other funds to make the allocation required
by subdivision (a) of Section 33681.
(2) If the agency allocates to the school and community college
districts less than the total amount required by subdivision (a) of
Section 33681, it shall reduce the payments to each district on a pro
rata basis.
(c) (1) Any agency which, pursuant to subdivision (b), allocates
to the school or community college districts less than the amount
required by subdivision (a) of Section 33681 shall adopt, prior to
November 1, 1992, for the 1992-93 fiscal year, after a noticed public
hearing, a resolution which lists all of the following:
(A) Each existing indebtedness incurred prior to the effective
date of the act that adds this article.
(B) Each indebtedness on which a payment is required to be made
during the 1992-93 fiscal year.
(C) The amount of each payment, the time when it is required to be
paid, and the total of the payments required to be made during the
1992-93 fiscal year. For indebtedness that bears interest at a
variable rate, or for short-term indebtedness that is maturing during
the fiscal year and expected to be refinanced, the amount of
payments during the fiscal year shall be estimated by the agency.
(2) The information contained in the resolution required by this
subdivision shall be certified by the chief fiscal officer of the
agency.
(d) Any agency that pays to the school or community college
districts less than the amount required by subdivision (a) of Section
33681 during the 1992-93 fiscal year shall pay the difference
between the full amount required to be paid by this section and the
amount already paid to the school or community college districts
prior to June 30, 1997.

33682. (a) (1) For the purposes of this section, "existing
indebtedness" means one or more of the following obligations incurred
by a redevelopment agency prior to the effective date of the statute
that adds this chapter, the payment of which is to be made in whole
or in part, directly or indirectly, out of taxes allocated to the
agency pursuant to Section 33670, and which is required by law or
provision of the existing indebtedness to be made during the 1992-93
fiscal year:
(A) Bonds, notes, interim certificates, debentures, or other
obligations issued by an agency (whether funded, refunded, assumed,
or otherwise) pursuant to Article 5 (commencing with Section 33640).

(B) Loans or moneys advanced to the agency, including, but not
limited to, loans from federal, state, or local agencies, or a
private entity.
(C) A contractual obligation which, if breached, could subject the
agency to damages or other liabilities or remedies.
(D) An obligation incurred pursuant to Section 33445.
(E) Indebtedness incurred pursuant to Section 33334.2.
(F) An amount, to be expended for the operation and administration
of the agency, which may not exceed 90 percent of the amount spent
for those purposes in the 1991-92 fiscal year.
(G) Obligations imposed by law with respect to activities which
occurred prior to the effective date of the act that adds this
chapter.
(2) Existing indebtedness incurred prior to the effective date of
the statute that adds this article may be refinanced, refunded, or
restructured after that date, and shall remain existing indebtedness
for the purposes of this section, if the annual debt service during
the 1992-93 fiscal year does not increase and the refinancing does
not reduce the ability of the agency to make the payment required by
subdivision (a) of Section 33681.
(3) For the purposes of this section, indebtedness shall be deemed
to be incurred prior to the effective date of this chapter if the
agency has entered into a binding contract subject to normal
marketing conditions, to deliver the indebtedness, or if the
redevelopment agency has received bids for the sale of the
indebtedness prior to that date and the indebtedness is issued for
value and evidence thereof is delivered to the initial purchaser no
later than 30 days after the date of the contract or sale.
(b) During the 1992-93 fiscal year, an agency that has adopted a
resolution pursuant to subdivision (c) may, pursuant to subdivision
(a) of Section 33681, allocate to the auditor less than the amount
required by subdivision (a) of Section 33681, if the agency finds
that either of the following has occurred:
(1) That the difference between the amount allocated and the
amount required by subdivision (a) of Section 33681 is necessary to
make payments on existing indebtedness that are due or required to be
committed, set aside, or reserved by the agency during the 1992-93
fiscal year and that are used by the agency for that purpose, and the
agency has no other funds that can be used to pay this existing
indebtedness, and no other feasible method to reduce or avoid this
indebtedness.
(2) The agency has no other funds to make the allocation required
by subdivision (a) of Section 33681.
(c) (1) Any agency that, pursuant to subdivision (b), allocates to
the auditor less than the amount required by subdivision (a) of
Section 33681 shall adopt, prior to December 31, 1992, for the
1992-93 fiscal year, after a noticed public hearing, a resolution
which lists all of the following:
(A) Each existing indebtedness incurred prior to the effective
date of the act that adds this article.
(B) Each indebtedness on which a payment is required to be made
during the 1992-93 fiscal year.
(C) The amount of each payment, the time when it is required to be
paid, and the total of the payments required to be made during the
1992-93 fiscal year. For indebtedness that bears interest at a
variable rate, or for short-term indebtedness that is maturing during
the fiscal year and expected to be refinanced, the amount of
payments during the fiscal year shall be estimated by the agency.
(2) The information contained in the resolution required by this
subdivision shall be certified by the chief fiscal officer of the
agency.
(3) The legislative body shall additionally adopt the resolution
required by this section.
(d) (1) Any agency that, pursuant to subdivision (b), determines
that it will be unable to allocate the full amount required by
subdivision (a) of Section 33681 shall, subject to paragraph (3),
enter into an agreement with the legislative body by February 15,
1993, to fund the payment of the difference between the full amount
required to be paid pursuant to subdivision (a) of Section 33681 and
the amount available for allocation by the agency.
(2) The obligations imposed by paragraph (1) are hereby declared
to be indebtedness incurred by the redevelopment agency to finance a
portion of a redevelopment project within the meaning of Section 16
of Article XVI the California Constitution. This indebtedness shall
be payable from tax revenues allocated to the agency pursuant to
Section 33670, and any other funds received by the agency. The
obligations imposed by paragraph (1) shall remain an indebtedness of
the agency to the legislative body until paid in full, or until the
agency and the legislative body otherwise agree.
(3) The agreement described in paragraph (1) shall be subject to
these terms and conditions specified in a written agreement between
the legislative body and the agency.
(e) If the agency fails, under either Section 33681 or subdivision
(d), to transmit the full amount of funds required by Section 33681,
is precluded by court order from transmitting that amount, or is
otherwise unable to meet its full obligation pursuant to Section
33681, the county auditor, by no later than May 15, 1993, shall
transfer any amount necessary to meet the obligation determined for
that agency in subparagraph (D) of paragraph (2) of subdivision (a)
of Section 33681 from the legislative body's property tax allocation
pursuant to Chapter 6 (commencing with Section 95) of Part 0.5 of
Division 1 of the Revenue and Taxation Code.
(f) It is the intent of the Legislature in enacting this section
that this section supersede and be operative in place of Section
33682 of the Health and Safety Code as added by Senate Bill 617 of
the 1991-92 Regular Session.

33682.1. For purposes of Section 33682, "existing indebtedness"
also means an obligation incurred pursuant to a reimbursement
agreement made for the purpose of funding an unfunded liability of a
fire and police retirement system of a charter city meeting all of
the criteria specified in Section 33608. This section shall not be
applied retroactively.

33682.5. (a) (1) For the purposes of this section, "existing
indebtedness" means one or more of the following obligations incurred
by a redevelopment agency prior to the effective date of the statute
that adds this chapter, the payment of which is to be made in whole
or in part, directly or indirectly, out of taxes allocated to the
agency pursuant to Section 33670, and which is required by law or
provision of the existing indebtedness to be made during the fiscal
year of the relevant allocation required by Section 33681.5:
(A) Bonds, notes, interim certificates, debentures, or other
obligations issued by an agency (whether funded, refunded, assumed,
or otherwise) pursuant to Article 5 (commencing with Section 33640).

(B) Loans or moneys advanced to the agency, including, but not
limited to, loans from federal, state, or local agencies, or a
private entity.
(C) A contractual obligation that, if breached, could subject the
agency to damages or other liabilities or remedies.
(D) An obligation incurred pursuant to Section 33445.
(E) Indebtedness incurred pursuant to Section 33334.2.
(F) An amount, to be expended for the operation and administration
of the agency, that may not exceed 90 percent of the amount spent
for those purposes in the 1991-92 fiscal year.
(G) Obligations imposed by law with respect to activities which
occurred prior to the effective date of the act that adds this
chapter.
(2) Existing indebtedness incurred prior to the effective date of
the statute that adds this article may be refinanced, refunded, or
restructured after that date, and shall remain existing indebtedness
for the purposes of this section, if the annual debt service during
that fiscal year does not increase over the prior fiscal year and the
refinancing does not reduce the ability of the agency to make the
payment required by subdivision (a) of Section 33681.5.
(3) For the purposes of this section, indebtedness shall be deemed
to be incurred prior to the effective date of this chapter if the
agency has entered into a binding contract subject to normal
marketing conditions, to deliver the indebtedness, or if the
redevelopment agency has received bids for the sale of the
indebtedness prior to that date and the indebtedness is issued for
value and evidence thereof is delivered to the initial purchaser no
later than 30 days after the date of the contract or sale.
(b) During the 1993-94 or 1994-95 fiscal year, an agency that has
adopted a resolution pursuant to subdivision (c) may, pursuant to
subdivision (a) of Section 33681.5, allocate to the auditor less than
the amount required by subdivision (a) of Section 33681.5, if the
agency finds that either of the following has occurred:
(1) That the difference between the amount allocated and the
amount required by subdivision (a) of Section 33681.5 is necessary to
make payments on existing indebtedness that are due or required to
be committed, set aside, or reserved by the agency during the
applicable fiscal year and that are used by the agency for that
purpose, and the agency has no other funds that can be used to pay
this existing indebtedness, and no other feasible method to reduce or
avoid this indebtedness.
(2) The agency has no other funds to make the allocation required
by subdivision (a) of Section 33681.5.
(c) (1) Any agency that, pursuant to subdivision (b), allocates to
the auditor less than the amount required by subdivision (a) of
Section 33681.5 shall adopt, prior to December 31 of the relevant
fiscal year, after a noticed public hearing, a resolution which lists
all of the following:
(A) Each existing indebtedness incurred prior to the effective
date of the act that adds this article.
(B) Each indebtedness on which a payment is required to be made
during the relevant fiscal year.
(C) The amount of each payment, the time when it is required to be
paid, and the total of the payments required to be made during the
relevant fiscal year. For indebtedness that bears interest at a
variable rate, or for short-term indebtedness that is maturing during
the fiscal year and expected to be refinanced, the amount of
payments during the fiscal year shall be estimated by the agency.
(2) The information contained in the resolution required by this
subdivision shall be reviewed for accuracy by the chief fiscal
officer of the agency.
(3) The legislative body shall additionally adopt the resolution
required by this section.
(d) (1) Any agency that, pursuant to subdivision (b), determines
that it will be unable in either the 1993-94 or 1994-95 fiscal year
to allocate the full amount required by subdivision (a) of Section
33681.5 shall, subject to paragraph (3), enter into an agreement with
the legislative body by February 15 of the relevant fiscal year to
fund the payment of the difference between the full amount required
to be paid pursuant to subdivision (a) of Section 33681.5 and the
amount available for allocation by the agency.
(2) The obligations imposed by paragraph (1) are hereby declared
to be indebtedness incurred by the redevelopment agency to finance a
portion of a redevelopment project within the meaning of Section 16
of Article XVI the California Constitution. This indebtedness shall
be payable from tax revenues allocated to the agency pursuant to
Section 33670, and any other funds received by the agency. The
obligations imposed by paragraph (1) shall remain an indebtedness of
the agency to the legislative body until paid in full, or until the
agency and the legislative body otherwise agree.
(3) The agreement described in paragraph (1) shall be subject to
these terms and conditions specified in a written agreement between
the legislative body and the agency.
(e) If the agency fails, under either Section 33681.5 or
subdivision (d), to transmit the full amount of funds required by
Section 33681.5, is precluded by court order from transmitting that
amount, or is otherwise unable to meet its full obligation pursuant
to Section 33681.5, the county auditor, by no later than May 15 of
the fiscal year, shall transfer any amount necessary to meet the
obligation determined for that agency in subparagraph (D) of
paragraph (2) of subdivision (a) of Section 33681.5 from the
legislative body's property tax allocation pursuant to Chapter 6
(commencing with Section 95) of Part 0.5 of Division 1 of the Revenue
and Taxation Code.


33683. For the purpose of calculating the amount which has been
divided and allocated to the redevelopment agency to determine
whether the limitation adopted pursuant to Section 33333.2 or 33333.4
or pursuant to agreement or court order has been reached, any
payments made pursuant to subdivision (a) of Sections 33681 and
33681.5 or subdivision (d) of Sections 33682 and 33682.5 with
property tax revenues shall be deducted from the amount of property
tax dollars deemed to have been received by the agency.


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