Laserfiche WebLink
JAH:djm /08/89 (040/#41) <br />this Agreement shall be limited to and be paid from 'fax 1ncrement <br />received by the Agency from the Amendment Area. The Agency shall <br />be deemed to have fully discharged its obligations under this <br />Agreement upon paying or causing the payment of those amounts <br />payable to District under Section 4 of this Agreement. This <br />Agreement fully addresses any adverse fiscal impact of the <br />Project upon the District, and the District may not hereafter <br />elect to receive pursuant to Health and Safety Code Section <br />33676, or otherwise claim, any additional Tax Increment From the <br />Total Project Area. <br />(b) In addition, the Agency's obligations to make <br />payments to the District pursuant to this Agreement in any single <br />year shall not exceed that amount of 'fax Increment which would <br />have been received by the District if all the Tax Increment from <br />the Amendment Area had been allocated to all the affected taxing <br />agencies without regard to the division of taxes required by <br />Health and Safety Code Section 33670. <br />8* Indebtedness. The Agency's obligation to make, payment <br />pursuant to this Agreement is deemed to constitute are <br />"indebtedness" within the meaning of ealth and Safety Code <br />Sections 33670 and 33675. <br />S ubordination. The indebtedness of the Agency under <br />this Agreement shall not be a first pledge of the Tax Increme t <br />and shall be subordinate to Agency bonds, notes, certificates of <br />participation, and any other legally enforceable contract or <br />agreement requiring Agency expenditure of Tax Increment for any <br />0 <br />