Laserfiche WebLink
Plan. The principal and interest on such advances, funds <br />and indebtedness may be paid from tax increments or any <br />other funds available to the Agency. Advances and loans for <br />survey and planning and for the operating capital for nomi- <br />nal administration of this Project may be provided by the <br />City until adequate tax increment or other funds are avail- <br />able, or sufficiently assured, to repay the advances and <br />loans and to permit borrowing adequate working capital from <br />sources other than the City. The City, as it is able, may <br />also supply additional assistance through City loans and <br />grants for various public facilities. <br /> <br /> The City or any other public agency may expend <br />money to assist the Agency in carrying out this Project. <br />As available, gas tax funds from the state and county may <br />be used for street improvements and public transit <br />facilities. <br /> <br /> B. [S502] Tax Increment Funds <br /> <br /> All taxes levied upon taxable property within the <br />Project Area each year, by or for the benefit of the State <br />of California, the County of Alameda, the City of <br />Pleasanton, any district or any other public corporation <br />(hereinafter sometimes called "taxing agencies") after the <br />effective date of the ordinance approving this Plan, shall <br />be divided as follows: <br /> <br /> 1. That portion of the taxes which would be <br /> produced by the rate upon which the tax is <br /> levied each year by or for each of said <br /> taxing agencies upon the total sum of the <br /> assessed value of the taxable property in <br /> the Project as shown upon the assessment <br /> roll used in connection with the taxation of <br /> such property by such taxing agency, last <br /> equalized prior to the effective date of <br /> such ordinance, shall be allocated to and <br /> when collected shall be paid into the funds <br /> of the respective taxing agencies as taxes <br /> by or for said taxing agencies on all other <br /> property are paid (for the purpose of allo- <br /> cating taxes levied by or for any taxing <br /> agency or agencies which did not include the <br /> territory of the Project on the effective <br /> date of such ordinance but to which such <br /> territory is annexed or otherwise included <br /> after such effective date, the assessment <br /> roll of the County of Alameda last equalized <br /> on the effective date of said ordinance <br /> shall be used in determining the assessed <br /> valuation of the taxable property in the <br /> Project on said effective date). <br /> <br /> -20- <br /> <br /> <br />