ORDINANCE NO. 750

AN ORDINANCE OF THE COUNTY OF RIVERSIDE AMENDING

EXISTING REDEVELOPMENT PLANS OF THE

REDEVELOPMENT AGENCY OF THE COUNTY OF RIVERSIDE

The Board of Supervisors of the County of Riverside, State of California, ordains as follows:

Section 1.

The purpose of this ordinance is to amend existing Redevelopment Plans of the Redevelopment Agency of the County of Riverside in order to comply with the changes in the California Community Redevelopment Law that became effective January 1, 1994 (1993 Stats. Ch. 942).

Section 2.

Redevelopment Plans 1, 2, 2-1987, 2-1989, 3, 3-1989, 4, 4-1987, 5, 5-1987, and Airports 1988, are hereby amended as set forth in Exhibits A, B, C, D, E, F, G, H, I, J and K, respectively, which such Exhibits are incorporated herein.

Section 3.

To the extent not otherwise expressly modified and amended by the Exhibits hereto, all other provisions, covenants, conditions, and restrictions of said redevelopment plans shall remain in full force and effect.

Section 4.

This ordinance shall take effect thirty (30) days after the date of adoption.

ADOPTED: 11-29-94 (Eff.: 12-29-94)

ORDINANCE NO. 750

EXHIBIT A

Redevelopment Plan 1 Amendment Pursuant to 1993 Stats. Ch. 942

Section 540 of Redevelopment Plan 1 is amended in its entirety as follows:

"E. (540) FINANCING LIMITATIONS.

Consistent with Sections 33333.6, 33333.2, and 33334.1 of Part 1 of Division 24 of the California Health and Safety Code (the California Community Redevelopment Law), the following financial limitations are imposed on this Plan:

Taxes, as defined in Section 33670 of the California Community Redevelopment Law, shall not be divided and shall not be allocated to the Agency in excess of One Hundred Fifty Million Dollars ($150,000,000) except by amendment to this Plan.

No loans, advances, or indebtedness to finance, in whole or in part, Redevelopment Project 1 and to be repaid from the allocation of those taxes described in the before-mentioned Section 33670 shall be established or incurred by the Agency beyond twenty (20) years from the date of adoption of this Plan by the Board of Supervisors, unless such time limitation is extended by amendment of this Plan. However, such loans, advances, or indebtedness shall be repaid within fifty (50) years from the date of adoption of this Plan.

From time to time as may be appropriate, the Agency may issue bonds and/or notes for any of its corporate purposes. The Agency may issue such types of bonds on which the principal and interest are payable in whole or in part from tax increments. The total outstanding principal of any bonds so issued and repayable from said tax increments shall not exceed Eighteen Million Seven Hundred Fifty Thousand Dollars ($18,750,000) at any one time, except by amendment to this Plan."

A new section 605 is hereby added to Redevelopment Plan 1 as follows:

"A. (605) TIME LIMIT ON REDEVELOPMENT PLAN ACTIVITIES.

All redevelopment plan activities shall have a forty (40) year limit from the adoption of the Plan. After the time limit, the agency shall not have authority to act except to pay previously incurred debt and to enforce existing covenants, contracts or other obligations of third parties. This limit does not apply to an agency's obligation to implement replacement housing or inclusionary housing requirements of Section 33413."

ORDINANCE 750

EXHIBIT B

Redevelopment Plan 2 Amendment Pursuant to 1993 Stats. Ch. 942

Section 540 of Redevelopment Plan 2 is amended in its entirety as follows:

"E. (540)FINANCING LIMITATIONS.

No loans, advances, or indebtedness to finance, in whole or in part, Redevelopment Project 2 and to be repaid from the allocation of those taxes described in the before-mentioned Section 33670 shall be established or incurred by the Agency beyond twenty (20) years from the date of adoption of this Plan by the Board of Supervisors, unless such time limitation is extended by amendment of this Plan. However, such loans, advances, or indebtedness shall be repaid within fifty (50) years from the date of adoption of this Plan.

From time to time as may be appropriate, the Agency may issue bonds and/or notes for any of its corporate purposes. The Agency may issue such types of bonds on which the principal and interest are payable in whole or in part from tax increments. The total outstanding principal of any bonds so issued and repayable from said tax increments shall not exceed Thirty-Four Million Three Hundred Seventy-Five Thousand Dollars ($34,375,000) at any on time, except by amendment to this Plan."

A new section 605 is hereby added to Redevelopment Plan 2 as follows:

"A. (605)TIME LIMIT ON REDEVELOPMENT PLAN ACTIVITIES.

ORDINANCE 750

EXHIBIT C

Redevelopment Plan 2-1987 Amendment Pursuant to 1993 Stats. Ch. 942

Section 540 of Redevelopment Plan 2-1987 is amended in its entirety as follows:

"E. (540) FINANCING LIMITATIONS.

Taxes, as defined in Section 33670 of the California Community Redevelopment Law, shall not be divided and shall not be allocated to the Agency in excess of Four Hundred Ninety-Five Million Dollars ($495,000,000) except by amendment to this Plan.

No loans, advances, or indebtedness to finance, in whole or in part, Redevelopment Project 2-1987 and to be repaid from the allocation of those taxes described in the before-mentioned Section 33670 shall be established or incurred by the Agency beyond twenty (20) years from the date of adoption of this Plan by the Board of Supervisors, unless such time limitation is extended by amendment of this Plan. However, such loans, advances, or indebtedness shall be repaid within fifty (50) years from the date of adoption of this Plan.

From time to time as may be appropriate, the Agency may issue bonds and/or notes for any of its corporate purposes. The Agency may issue such types of bonds on which the principal and interest are payable in whole or in part from tax increments. The total outstanding principal of any bonds so issued and repayable from said tax increments shall not exceed Sixty-Two Million Dollars ($62,000,000) at any one time, except by amendment to this Plan."

A new section 605 is hereby added to Redevelopment Plan 2-1987 as follows:

"A. (605) TIME LIMIT ON REDEVELOPMENT PLAN ACTIVITIES.

ORDINANCE 750

EXHIBIT D

Redevelopment Plan 2-1989 Amendment Pursuant to 1993 Stats. Ch. 942

Section 540 of Redevelopment Plan 2-1989 is amended in its entirety as follows:

"E. (540) FINANCING LIMITATIONS.

Taxes, as defined in Section 33670 of the California Community Redevelopment Law, shall not be divided and shall not be allocated to the Agency in excess of Five Hundred Thirty-Five Million Dollars ($535,000,000) except by amendment to this Plan.

No loans, advances, or indebtedness to finance, in whole or in part, Redevelopment Project 2-1989 and to be repaid from the allocation of those taxes described in the before-mentioned Section 33670 shall be established or incurred by the Agency beyond twenty (20) years from the date of adoption of this Plan by the Board of Supervisors, unless such time limitation is extended by amendment of this Plan. However, such loans, advances, or indebtedness shall be repaid within fifty (50) years from the date of adoption of this Plan.

From time to time as may be appropriate, the Agency may issue bonds and/or notes for any of its

corporate purposes. The Agency may issue such types of bonds on which the principal and interest are payable in whole or in part from tax increments. The total outstanding principal of any bonds so issued and repayable from said tax increments shall not exceed One Hundred Eighty Million Dollars ($180,000,000) at any one time, except by amendment to this Plan."

A new section 605 is hereby added to Redevelopment Plan 2-1989 as follows:

"A. (605) TIME LIMIT ON REDEVELOPMENT PLAN ACTIVITIES.

ORDINANCE 750

EXHIBIT E

Redevelopment Plan 3 Amendment Pursuant to 1993 Stats. Ch. 942

Section 540 of Redevelopment Plan 3 is amended in its entirety as follows:

"E. (540) FINANCING LIMITATIONS.

Taxes, as defined in Section 33670 of the California Community Redevelopment Law, shall not be divided and shall not be allocated to the Agency in excess of Five Hundred Million Dollars ($500,000,000) except by amendment to this Plan.

No loans, advances, or indebtedness to finance, in whole or in part, Redevelopment Project 3 and to be repaid from the allocation of those taxes described in the before-mentioned Section 33670 shall be established or incurred by the Agency beyond twenty (20) years from the date of adoption of this Plan by the Board of Supervisors, unless such time limitation is extended by amendment of this Plan. However, such loans, advances, or indebtedness shall be repaid within fifty (50) years from the date of adoption of this Plan.

From time to time as may be appropriate, the Agency may issue bonds and/or notes for any of its corporate purposes. The Agency may issue such types of bonds on which the principal and interest are payable in whole or in part from tax increments. The total outstanding principal of any bonds so issued and repayable from said tax increments shall not exceed $Sixty-Two Million Five Hundred Thousand Dollars ($62,500,000) at any one time, except by amendment to this Plan."

A new section 605 is hereby added to Redevelopment Plan 3 as follows:

"A. (605) TIME LIMIT ON REDEVELOPMENT PLAN ACTIVITIES.

ORDINANCE 750

EXHIBIT F

Redevelopment Plan 3-1989 Amendment Pursuant to 1993 Stats. Ch. 942

Section 540 of Redevelopment Plan 3-1989 is amended in its entirety as follows:

"E. (540) FINANCING LIMITATIONS.

Taxes, as defined in Section 33670 of the California Community Redevelopment Law, shall not be divided and shall not be allocated to the Agency in excess of One Hundred Thirty-Five Million Dollars($135,000,000) except by amendment to this Plan.

No loans, advances , or indebtedness to finance, in whole or in part, Redevelopment Project 3-1989 and to be repaid from the allocation of those taxes described in the before-mentioned Section 33670 shall be established or incurred by the Agency beyond twenty (20) years from the date of adoption of this Plan by the Board of Supervisors, unless such time limitation is extended by amendment of this Plan. However, such loans, advances, or indebtedness shall be repaid within fifty (50) years from the date of adoption of this Plan.

From time to time as may be appropriate, the Agency may issue bonds and/or notes for any of its corporate purposes. The Agency may issue such types of bonds on which the principal and interest are payable in whole or in part from tax increments. The total outstanding principal of any bonds so issued and repayable from said tax increments shall not exceed Forty-Five Million Dollars($45,000,000) at any one time, except by amendment to this Plan."

A new section 605 is hereby added to Redevelopment Plan 3-1989

"A. (605) TIME LIMIT ON REDEVELOPMENT PLAN ACTIVITIES.

ORDINANCE 750

EXHIBIT G

Redevelopment Plan 4 Amendment Pursuant to 1993 Stats. Ch. 942

Section 540 of Redevelopment Plan 4 is amended in its entirety as follows:

"E. (540) FINANCING LIMITATIONS.

are imposed on this Plan:

Taxes, as defined in Section 33670 of the California Community Redevelopment Law, shall not be divided and shall not be allocated to the Agency in excess of Nine Hundred Million Dollars ($900,000,000) except by amendment to this Plan.

No loans, advances, or indebtedness to finance, in whole or in part, Redevelopment Project 4 and to be repaid from the allocation of those taxes described in the before-mentioned Section 33670 shall be established or incurred by the Agency beyond twenty (20) years from the date of adoption of this Plan by the Board of Supervisors, unless such time limitation is extended by amendment of this Plan. However, such loans, advances, or indebtedness shall be repaid within fifty (50) years from the date of adoption of this Plan.

From time to time as may be appropriate, the Agency may issue bonds and/or notes for any of its corporate purposes. The Agency may issue such types of bonds on which the principal and interest are payable in whole or in part from tax increments. The total outstanding principal of any bonds so issued and repayable from said tax increments shall not exceed One Hundred Twelve Million Five Hundred Thousand Dollars ($112,500,000) at any one time, except by amendment to this Plan."

A new section 605 is hereby added to Redevelopment Plan 4 as follows:

"A. (605) TIME LIMIT ON REDEVELOPMENT PLAN ACTIVITIES.

ORDINANCE 750

EXHIBIT H

Redevelopment Plan 4-1987 Amendment Pursuant to 1993 Stats. Ch. 942

Section 540 of Redevelopment Plan 4-1987 is amended in its entirety as follows:

"E. (540) FINANCING LIMITATIONS.

Taxes, as defined in Section 33670 of the California Community Redevelopment Law, shall not be divided and shall not be allocated to the Agency in excess of One Hundred Forty Million Dollars ($140,000,000) except by amendment to this Plan.

No loans, advances, or indebtedness to finance, in whole or in part, Redevelopment Project 4-1987 and to be repaid from the allocation of those taxes described in the before-mentioned Section 33670 shall be established or incurred by the Agency beyond twenty (20) years from the date of adoption of this Plan by the Board of Supervisors, unless such time limitation is extended by amendment of this Plan. However, such loans, advances, or indebtedness shall be repaid within fifty (50) years from the date of adoption of this Plan.

From time to time as may be appropriate, the Agency may issue bonds and/or notes for any of its corporate purposes. The Agency may issue such types of bonds on which the principal and interest are payable in whole or in part from tax increments. The total outstanding principal of any bonds so issued and repayable from said tax increments shall not exceed Seventeen Million Five Hundred Thousand Dollars ($17,500,000) at any one time, except by amendment to this Plan."

A new section 605 is hereby added to Redevelopment Plan 4-1987 as follows:

"A. (605) TIME LIMIT ON REDEVELOPMENT PLAN ACTIVITIES.

ORDINANCE 750

EXHIBIT I

Redevelopment Plan 5 Amendment Pursuant to 1993 Stats. Ch. 942

Section 540 of Redevelopment Plan 5 is amended in its entirety as follows:

"E. (540) FINANCING LIMITATIONS.

Taxes, as defined in Section 33670 of the California Community Redevelopment Law, shall not be divided and shall not be allocated to the Agency in excess of Six Hundred Fifty Million Dollars ($650,000,000) except by amendment to this Plan.

No loans, advances, or indebtedness to finance, in whole or in part, Redevelopment Project 5 and

to be repaid from the allocation of those taxes described in the before-mentioned Section 33670 shall be established or incurred by the Agency beyond twenty (20) years from the date of adoption of this Plan by the Board of Supervisors, unless such time limitation is extended by amendment of this Plan. However, such loans, advances, or indebtedness shall be repaid within fifty (50) years from the date of adoption of this Plan.

From time to time as may be appropriate, the Agency may issue bonds and/or notes for any of its corporate purposes. The Agency may issue such types of bonds on which the principal and interest are payable in whole or in part from tax increments. The total outstanding principal of any bonds so issued and repayable from said tax increments shall not exceed Eighty-One Million Two Hundred Fifty Thousand Dollars ($81,250,000) at any one time, except by amendment to this Plan."

A new section 605 is hereby added to Redevelopment Plan 5 as follows:

"A. (605) TIME LIMIT ON REDEVELOPMENT PLAN ACTIVITIES.

ORDINANCE 750

EXHIBIT J

Redevelopment Plan 5-1987 Amendment Pursuant to 1993 Stats. Ch. 942

Section 540 of Redevelopment Plan 5-1987 is amended in its entirety as follows:

"E. (540) FINANCING LIMITATIONS.

Consistent with Sections 33333.6, 33334.1 of Part 1 of Division 24 of the California Health and Safety Code (the California Community Redevelopment Law), the following financial limitations are imposed on this Plan:

No loans, advances, or indebtedness to finance, in whole or in part, Redevelopment Project 5-1987 and to be repaid from the allocation of those taxes described in the before-mentioned Section 33670 shall be established or incurred by the Agency beyond twenty (20) years from the date of adoption of this Plan by the Board of Supervisors, unless such time limitation is extended by amendment of this Plan. However, such loans, advances , or indebtedness shall be repaid within fifty (50) years from the date of adoption of this Plan.

From time to time as may be appropriate, the Agency may issue bonds and/or notes for any of its corporate purposes. The Agency may issue such types of bonds on which the principal and interest are payable in whole or in part from tax increments. The total outstanding principal of any bonds so issued and repayable from said tax increments shall not exceed Fifteen Million Dollars ($15,000,000) at any one time, except by amendment to this Plan."

A new section 605 is hereby added to Redevelopment Plan 5-1987 as follows:

"A. (605) TIME LIMIT ON REDEVELOPMENT PLAN ACTIVITIES.

ORDINANCE 750

EXHIBIT K

Redevelopment Plan Airports-1988 Amendment Pursuant to 1993 Stats. Ch. 942

Section 540 of Redevelopment Plan Airports-1988 is amended in its entirety as follows:

"E. (540) FINANCING LIMITATIONS.

Taxes, as defined in Section 33670 of the California Community Redevelopment Law, shall not be divided and shall not be allocated to the Agency in excess of Three Hundred Sixty Million Dollars ($360,000,000) except by amendment to this Plan.

No loans, advances, or indebtedness to finance, in whole or in part, Redevelopment Project Airports-1988 and to be repaid from the allocation of those taxes described in the before-mentioned Section 33670 shall be established or incurred by the Agency beyond twenty (20) years from the date of adoption of this Plan by the Board of Supervisors, unless such time limitation is extended by amendment of this Plan. However, such loans, advances, or indebtedness shall be repaid within fifty (50) years from the date of adoption of this Plan.

From time to time as may be appropriate, the Agency may issue bonds and/or notes for any of its corporate purposes. The Agency may issue such types of bonds on which the principal and interest are payable in whole or in part from tax increments. The total outstanding principal of any bonds so issued and repayable from said tax increments shall not exceed Ninety-Five Million Dollars ($95,000,000) at any one time, except by amendment to this Plan."

A new section 605 is hereby added to Redevelopment Plan Airports-1988 as follows:

"A. (605) TIME LIMIT ON REDEVELOPMENT PLAN ACTIVITIES.