Laserfiche WebLink
5 A:d.jz 0 (0441 <br />5 � <br />elections provided. in Section 336 76 f the Health & Safety Code, <br />and the District shall rescind any resolution adopted by it <br />pursuant to Section 33676 as a condition to the Agency's <br />obligation to make any payment to District under this Agreement. <br />Low and Mo derato Income H ousing F und . A s provided for <br />in Health and Safety Code Section 33334.2, the Agency annually <br />must deposit twenty percent of all Tax Increment from the <br />Amendment A rea into a L ow and M o d erate Income H ousing F und <br />("Housing Fund" unless certain findings are made. It is the <br />intention of the parties that the amount to be retained b the <br />Agency and any amounts due the Dis under this Agreement <br />shall be computed using the balance remaining after the twenty <br />percent 2 Housing Fund deposit, if any, is made. <br />Payment Procedure The Agency shall approve and pair to <br />the District those respective amounts pursuant to this Agreement <br />during each fiscal year within a reasonable period after the <br />Agency shall have received the Tax Increment from the Counter <br />Controller; provided, that payments in relation to allocations <br />received between July I and December 3 of any fiscal year' shall <br />b e made no later than the following January 31, and that payments <br />in relation to allocations received between January 1 and June 3 <br />of any fiscal year shall b made no later than the following July <br />31. No interest shall accrue in relation to any amounts payable <br />pursuant to this Agreement, <br />Limitations on Payment <br />r i w��r rr <br />a The Agency's obligation to make payments under <br />