Ordinance - 1736ORDINANCE NO. 1736
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF WEST
COVINA ESTABLISHING CERTAIN LIMITATIONS FOR THE RE-
DEVELOPMENT PLAN FOR THE WEST COVINA CENTRAL BUSINESS
DISTRICT REDEVELOPMENT PROJECT, AS REQUIRED BY
CALIFORNIA HEALTH AND SAFETY CODE SECTION 33333.4
• WHEREAS, the City Council of the City of West Covina adopted Ordinance
No. 1180 on December 20, 1971 adopting and approving a Redevelopment Plan
(hereinafter referred to as the "Redevelopment Plan") for the Central
Business District Redevelopment Project (hereinafter referred to as the
"Redevelopment Project") and such Plan was amended on May 23, 1977 by
Ordinance No. 1342, on July 7, 1980 by Ordinance No. 1481, on December 10,
1984 by Ordinance No. 1657; and
WHEREAS, the Redevelopment Plan contains the tax allocation provisions
set forth in California Health and Safety Code Section 33670; and
WHEREAS, California Health and Safety Code Section 33333.4 requires
that the City Council adopt this Ordinance on or before December 31, 1986
establishing certain limitations for the Redevelopment Project;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF WEST COVINA DOES
ORDAIN AS FOLLOWS:
Section 1. In accordance with the requirements of California Health
and Safety Code Section 33333.4, the City Council hereby establishes the
following limitations for the Redevelopment Project, subject to all of the
provisions of this Ordinance:
A. The number of dollars of taxes which may be divided and allocated
to West Covina Redevelopment Agency, City of West Covina,
California (hereinafter referred to as the "Agency") pursuant to
the Redevelopment Plan shall not exceed: (1) for fiscal years
1985-86 and before the amounts actually so divided and allocated
to the Agency; and (2) for fiscal years 1986-87 and thereafter
the amount of Two Hundred Eighty-one Million Eight Hundred Forty-
seven Thousand Nine Hundred Sixty-one Dollars ($281,847,961),
except by amendment of the Redevelopment Plan in the manner
required by law.
B. No loan, advance or indebtedness to be repaid from the alloca-
tions of taxes referred to in Section 1.A. hereinabove shall be
established or incurred by the Agency to finance in whole or in
part the Redevelopment Project after December 20, 2006. Such
loan, advance or indebtedness may be repaid over a period of time
longer than such time limit. Such time limit may be extended
only by amendment of the Redevelopment Plan in the manner
required by law.
C. No eminent domain proceeding to acquire property within the
Redevelopment Project area shall be commenced after twelve (12)
years following the date of adoption of this Ordinance. Such
time limitation may be extended only by amendment'of the Re-
development Plan in the manner required by law.
Section 2. The limitations established in Section 1 of this Ordinance
shall apply to the Redevelopment Plan as if the Redevelopment Plan had been
amended to include those limitations, and may only be amended by amendment
of the Redevelopment Plan in the manner required by law.
Section 3. The limitations established in Section 1 of this Ordinance
shall not be construed to allow the impairment of any obligation on in-
debtedness incurred by the City of West Covina or the Agency pursuant to
Ordinance No. 1736 -2-
Section 4. The City Clerk shall certify to the adoption of this Ordi-
nance andshall cause the same to be published as required by law.
APPROVED AND ADOPTED this loth day of November 1986.
May r
ATTEST:
City Cler
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS:
CITY OF WEST COVINA )
I, Helene M. Mooney, City Clerk of the City of West Covina, do hereby
certify that the foregoing Ordinance No. 1736 was regularly introduced egu
and placed upon its first reading at a rlar meeting of the City Council
on the 27th day of October , 1986. That, thereafter, said Ordi-
nance was u y adoptedat a -regu-Ta—meeting of the City Council on the loth
day of November , 1986, by the following vote:
AYES: Tennant, Bacon, Manners, Chappell, Shearer
NOES: None
ABSENT:
ABSTAIN:
City Clerk
APPROVED AS TO FORM:
City Attorney
C E R T I F I C A T I O N
I, JANET BERRY, Deputy City Clerk of the City of West Covina, State
of California, do hereby certify that a true and accurate copy of
Ordinance No. 1 7.3 6 was published, pursuant to law, in the San
• Gabriel Valle Tribune, a newspaper of general circulation published
Ga Y
and circulated in the City of West Covina.
Janet Berry, City Clerk
IMICor
City of West Covina, Ca nia
DATED:
T