Ord 1992 - Amending Ordinance 1881 establishing and amending certain limitations with respect to the Redevelopment Plan for the Central Los Gatos Redevelopment AgencyORDINANCE 1992
ORDINANCE OF THE TOWN OF LOS GATOS AMENDING
ORDINANCE 1881 ESTABLISHING AND AMENDING CERTAIN
LIMITATIONS WITH RESPECT TO THE REDEVELOPMENT PLAN
FOR THE CENTRAL LOS GATOS REDEVELOPMENT PROJECT
THE TOWN COUNCIL OF THE TOWN OF LOS GATOS DOES ORDAIN AS
FOLLOWS:
SECTION I
The time limit on the establishing of loans, advances and indebtedness, as set forth in the
last paragraph of Section 502 of the Redevelopment Plan, is amended to read as follows:
The Agency shall not establish or incur loans, advances or indebtedness to
finance in whole or in part the Project after December 25, 2011.
SECTION II
A new paragraph is hereby added at the end of Section 502 of the Redevelopment Plan to
read as follows:
The Agency shall not pay indebtedness or receive property taxes pursuant to
Health and Safety Code Section 33670 after December 25, 2041, except as
otherwise specifically permitted under Health and Safety Code Section
33333.6.
SECTION III
This ordinance was introduced at a regular meeting of the Town Council of the Town
of Los Gatos on November 21, 1994 and adopted by the following vote as an ordinance of
the Town of Los Gatos at a regular meeting of the Town Council of the Town of Los Gatos
on December 5, 1994. This ordinance takes effect 30 days after it is adopted.
COUNCIL MEMBERS:
AYES: Randy Attaway, Joanne Benjamin, Steven Blanton, Linda Lubeck,
Mayor Patrick O'Laughlin
NAYS: None
ABSENT: None
ABSTAIN: None
SIGNED: (94 V---
MAYOR OF * THE TO N OF LOS GATOS
LOS GATOS, CALIFORNIA
ATTEST:
CLERK OF THE TOWN OF OS GATOS
LOS GATOS, CALIFORNIA