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JAH:dft 11/~/94R (006/12) <br /> _ 11;_3/94R <br /> 11/29/94R <br /> <br /> WHEREAS, this Council desires by this ordinance to amend the <br />Redevelopment Plan for Redevelopment Project No. 2, as heretofore <br />amended (the "Redevelopment Plan"), as required by AB 1290; <br /> <br /> NOW, THEREFORE, THE COUNCIL OF REDWOOD CITY DOES ORDAIN AS <br />FOLLOWS: <br /> <br /> 1. TIME LIMITS ON ESTABLISHING INDEBTEDNESS. In compliance <br />with subsection (a) of Section 33333.6 of the Health and Safety <br />Code, the time limits on the establishing of loans, advances, and <br />indebtedness adopted pursuant to the Redevelopment Plan shall be <br />(1) January 1, 2004, for the territory covered by the <br />Redevelopment Plan as adopted in 1982 (the "Original Project <br />Area"), (2) June 20, 2005, for the territory added to the Project <br />Area in 1985 (the "First Amendment Area"), and (3) January 18, <br />2010, for the territory added to the Project Area in 1990 (the <br />"Second Amendment Area"). <br /> <br /> Provided, however, that the foregoing time limitations shall <br />not prevent this Agency from incurring debt to be paid from its <br />Low and Moderate Income Housing Fund or establishing more debt in <br />order to fulfill this Agency's housing obligations under Section <br />33413 of the Health and Safety Code; nor shall such time <br />limitations prevent this Agency from refinancing, refunding, or <br />restructuring any indebtedness after the time limit pertaining to <br />such indebtedness, if the indebtedness is not increased and the <br />time during which the indebtedness is to be repaid does not <br />exceed the date on which the indebtedness would have been paid. <br /> <br /> 2. TIME LIMITS ON EFFECTIVENESS OF PLAN. In compliance <br />with subsection (b) of Section 33333.6 of the Health and Safety <br /> <br /> 2 <br /> <br /> <br />