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ARA1977-006RESOLUTION NO. ARA77- 6 A RESOLUTIOI`T OF THE ANAHEIM REDEVELOPMENT AGENCY DETERMINING THE AMOUNT OF MONEY APPROPRIATE TO ALLEVIATE THE FINANCIAL BURDEN AND DETRIMENT CAUSED THE PLACENTIA UNIFIED SCHOOL DISTRICT BY REDEVELOPMENT PROJECT ALPHA; DETERMINING THAT CERTAIN FACILITIES OF THE SCHOOL DISTRICT ARE OF BENEFIT TO THE PROJECT AREA AND THE IMMEDIATE NEIGHBORHOOD IN WHICH THE PROJECT IS LOCATED; APPROVING THE AGREEMENT BETWEEN THE PLACENTIA UNIFIED SCHOOL DISTRICT AND THE ANAHEIM REDEVEL- OPMENT AGENCY; AND AUTHORIZING THE CHAIRMAN AND SECRETARY TO EXECUTE SAID AGREEMENT. WHEREAS, the Anaheim Redevelopment Agency is carrying out the Anaheim Redevelopment Project Alpha (herein- after the "Project ") pursuant to the Redevelopment Plan for the Project approved and adopted by the City Council by Ordinance No. 3190 on July 19, 1973, as amended by Ordinance No. 3567 on July 20, 1976, and as further amended by Ordinance No. 3631 on November 30, 1976; and WHEREAS, a substantial portion of the land area and assessed valuation of the Project area is located within the boundaries of the Placentia Unified School District (herein- after the "School District "); and WHEREAS, said Redevelopment Plan includes a provi- sion authorizing the allocation to the Agency of property taxes levied by all taxing agencies on the increase in the assessed valuation of property within the Project area between the assessed valuation of said property on the 1972/73 assessment roll and the assessed valuation thereon shown on each assessment roll subsequent thereto; and WHEREAS, by reason of such tax allocation provision, when the School District is levying the maximum statutory rate for certain override taxes, but cannot apply such rate against the incremental assessed valuation within the Project, the School District will be unable to support its desired level of expenditures for the program and will to that extent incur a burden and detriment with respect to its educational services; and WHEREAS, the Redevelopment Plan provides for consid- erable development of industry and commerce in the Project area which development will depend in part upon the availability of a labor supply attracted by quality educational and related services in the vicinity; and -1- WHEREAS, the School District, through its facilities located within the Project area and its facilities with service areas including the Project area, provides educational and recreational opportunities for residents of the Project area and the immediate neighborhood in which the Project is located and for people employed at establishments within the Project area; and WHEREAS, the School District proposes to construct and install certain additional educational and support facilities as listed and described in Exhibit " A " and located as shown in Exhibit "B" (both of which Exhibits are attached hereto and incorporated herein), which facilities by ensuring the continued availability of quality educational opportunities in and around the Project area will be important factor to attract addition- al private investment into the Project area and thus assist in the implementation of the Redevelopment Plan; and WHEREAS, the City Council of the City of Anaheim has by resolution determined that the buildings, facilities, structures and other improvements listed in said Exhibit " A " are of benefit to the Project area and the immediate neighborhood in which the Project is located and has determined that no other reasonable means of financing said buildings, facilities, structures, and other improvements are available to the City; and WHEREAS, the City Council has further consented to the Agency paying all or part of the value of the land for and the cost of the installation and construction of the buildings, facilities, structures, and other improvements listed in said Exhibit "A," and to the Anaheim Redevelopment Agency entering into that certain "Agreement Between the Placentia Unified School District and the Anaheim Redevelopment Agency," attached hereto as Exhibit "C." NOW, THEREFORE, the Anaheim Redevelopment Agency does hereby resolve as follows: 1. The Redevelopment Agency hereby determines that it is appropriate to pay to the School District each fiscal year, to alleviate any financial burden or detriment caused to the School District in such year, the amount of revenue allocated and paid to the Agency in such year as a result of the application of the Community Services, Regional Occupational Program Capital Outlay, Meals for Needy Pupils, and Earthquake Safety override tax rates which are actually _levied at their maximum permitted level for the year (but not exceeding such maximum rates as were in effect on the date of this Resolution), to the incremental assessed valuation of the Project within the School District. -2- 2. The Redevelopment Agency hereby determines that the buildings, facilities, structures and other improvements listed in said Exhibit " A " are of benefit to the Project area and the immediate neighborhood in which the Project is located. 3. The "Agreement Between the Placentia Unified School District and the Anaheim Redevelopment Agency" attached hereto as Exhibit "C," is hereby approved and the Chairman and Secretary are hereby authorized to execute said Agreement on behalf of the Agency. THE FOREGOING RESOLUTION is approved and signed by me this 27th day of January , 1977• CHAIRMAN ANAHE'M REDEVELOPMENT AGENCY ATTEST: SECRETARY ANAHEIM REDEVELOPMENT AGENCY MES:jh -3- STATE OF CALIFORNIA ) COUNTY OF ORANGE ) CITY OF ANAHEIM ) I, LINDA D. ROBERTS, Secretary of the Anaheim Redevelopment Agency, do hereby certify that the foregoing Resolution No.,ARA77 -6 was passed and adopted at an adjourned regular meeting of the Anaheim Redevelopment Agency held on the 27th day of January, 1977, by the following vote of the members thereof: AYES: AGENCY MEMBERS: Kaywood, Seymour, Kott and Thom NOES: AGENCY MEMBERS: Roth ABSENT: AGENCY MEMBERS: None AND I FURTHER CERTIFY that the Chairman of the Anaheim Redevelopment Agency approved and signed said Resolution on the 27th day of January, 1977. . IN WITNESS WHEREOF, I have hereunto set my hand and seal this 27th day of �* January,1977. SECRETARY OF THE ANAH IM REDEVELOPMENT AGENCY (SEAL) •2:1ooV a ouPuiA 2g00V_•AgG •umuoo •AaQ•mmoo_ao4oaazQ • oaxg 1 of 7 ARA7 7- 6 EXHIBIT "A" SCHOOL DISTRICT FACILITIES Facility 1. 2. Facility Description Estimated Cost Instructional Materials Center Acquisition of land (approx. 4 acres) and construction of building (approx. 14,800 square feet) at District Education Center, for storage and display of instructional materials and conference space. $942,000. Benefit to the Project Area and the Immediate Neighborhood This facility will include space for preparation, storage and display of instructional materials for the District. Conference rooms will be provided for inservice instruc- tion and training, curriculum development and related support activities for schools in the District including those serving students from the Project area and the immediate neighborhood. Data Processing Center Construction of build- $925,000. ing (approx. 5,000 square feet) on site of District Education Center and installa- tion of computer and related fixtures. Benefit To the Project Area and the Immediate Neighborhood This facility will be used for the storage, processing, and retrieval of district records by computer. The computer will be connected by communications lines to terminals located at Esperanza High School and eventually other schools serving the Project area and the immediate neighborhood. The computer will also be available for classroom instruction, including adult programming school. Facility No. 4. 2of7 ARA- 7 7- 6 Facility Description Estimated Cost Warehouse Construction of build- ing (approx. 20,000 square feet) on site of District Education Center and installa- tion of storage and freight handling fixtures. $450,000. Benefit to the Project Area and the Immediate Neighborhood This facility will be used for storage of District supplies, textbooks, etc. and will contain space for equipment re- pair activities. The warehouse will be in close proximity to industries located within the Project area which provide supplies, equipment and services to the School District. Bus and Vehicle Maintenance Facility Acquisition of land $355,000. (approx. 4 acres) and construction of ex- pansion(approx. 3,000 square feet) to existing building at District Education Center, includ- ing installation of necessary site improve- ments and fixtures, for repair of vehicles and equipment. Benefit to the Project Area and the Immediate Neiqhborhood This facility will be used for the repair and maintenance of numerous busses, trucks, tractors, automobiles, and other engine- driven District equipment. Such equipment is used at the schools serving the Project area and the immediate neighborhood for transportation of pupils, the public by charter, and hauling of various materials and supplies. The facility will be in close proximity to industries located within the Project area which provide gasoline and oil products and other supplies and services to the School District. -2- 3of7 ARA7 7- 6 Facility N_. 0 Facilit Maintenance Building $425,000. Benefit to the Project Area and the Immediate Neiqhborhood This facility will house the District's maintenance and groundskeeping activities. The facility serves the schools which will be attended by pupils from the Project area and the immediate neighborhood. By contributing to the main - tenance of the school plant, the facility thereby contributes to the quality of the District's educational program as well as the programs (e.g. recreational) made available on school grounds for the public generally. Vocational High School Construction of build- ing (approx. 36,000 square feet) on site of existing Continua- tion High School and installation of nec- essary instructional .fixtures. $2,380,000. Benefit to the Pro ject area and the Immediate Neiqhborhood This facility will contain specialized equipment for high school and adult vocational education. It is expected that adults receiving vocational training will be employed in the Project area and students upon graduation will seek employment in the Project area. High school vocational students may be a source of trainees and part -time employees for firms locating in the Project area. Descrit)tion Acquisition and improvement of land (approx. 3 acres) and building (approx. 15,000 square feet) adjacent to District Education Center, in- cluding installation of necessary site improvements, for equipment storage and maintenance. Estimated Cost -3- 4 of 7 ARA77- 6 r utility No. 7. Facility Student Mothers Facility Description Estimated Cost EM Acquisition of land (approx. 1 acre) and construction of building (approx. 3,000 square feet) at District Education Center, including nec- essary site improve- ments and fixtures, for instruction of student mothers and child care. Benefit to the Project Area and the Immediate Nei $225,000. orhood This facility is for the education of students who are either expecting a child or have'a child. It will include space for counseling and instruction in child care, nutrition and home management as well as space for a nursery and playground. The facility will serve students district wide including those from the Project area and the immediate neighborhood. Communications Center Construction of build- ing (approx. 3,000 square feet) on site of Instructional Materials Center and installation of nec- essary communication fixtures. $775,000. Benefit to the Project Area and t he Immediate Neighborhood This facility will be connected with the Instructional Materials Center. It will be used for closed circuit television instruction, with communication lines installed for transmittal directly to the schools, including those serving students from the Project area and the immediate neighborhood. -4- 5of7 ARA7 7- 6 F i1ity Facility Description Estimated Cost 9. District Office Construction of ex- pansion (approx. 12,000 square feet) to existing office building at District Educational Center, including installa- tion of necessary office fixtures. $470,000. Benefit to-.the Project Area and the Immediate Neighborhood This facility would add to the District central office built in 1967, when student enrollment was 8,900,sufficient space to house special education personnel, child welfare and attendance staff and other personnel required as a result of the increase in enrollment to 19,200 students currently, and the expected future increase in enrollment to 25,000 to 30,000 students. The facility will provide support to schools serving the Project area and its immediate neighborhood. 10. Valencia High School Rehibilitation and $4,950,000. construction of nec- essary improvements to buildings and site of existing school facility. Benefit to the Project Area and the Immediate Neighborhood This facility serves the western part of the Project area, including approximately 140 new dwelling units now under construction, as well as serving many students from the immediate neighborhood of the Project. As the oldest high school in the District much of the school is substandard and requires renovation. The school's auditorum, stadium and other facilities are also made available to the public generally (including employees and others from the Project area) for meetings, plays, concerts, lectures, recreation, etc. Adult school classes held at the facility are open to employees and residents from the Project area. -5- 6 of 7 AR.A7 7- 6 ility 11. Facility Esperanza High School Descriptio Estimated Cost 12. Benefit to the Project area and the Immediate Neighborhood Construction of build- ings and necessary improvements for in- struction of trainable mentally retarded, for recreation facilities including ball courts and fields and parking facilities, and for expansion of shops, restrooms and other similar facilities. $1,140,000. This facility serves the eastern portion of the Project area and the immediate neighborhood thereof for both school purposes and as a community center for meetings, recreation and other activities. The facility will be expanded to provide space for instruction of the trainable mentally retarded, additional recreation facilities and parking and other support activities. Kraemer Junior High School Rehabilitation and construction of nec- essary improvements to buildings and site of existing school facility. $1,710,000. Benefit t o the Project Area and the Immediate Neighborhood This facility serves the western part of the Project area including approximately 140 new dwelling units now under construction, as well as serving many students from the immediate neighborhood of the Project. As the oldest and smallest junior high school in the District it requires renovation to meet the increased student and public demand brought about partly by redevelopment in the Project area. The school*is made available as a "civic center" for the community, including employees and residents from the Pro- ject area and its immediate neighborhood, who may use it for meetings, recreation, etc. m. 7of7 ARA7 7- 6 Uity 13. Facility Portable Classrooms $720,000. Benefit to the Project Area and the Immediate Neighborhood These facilities will be located at the schools of all grade levels serving the Project area and its immediate neighbor- hood. They will provide space for several years to accomodate the increased student enrollment brought about partly by redevelopment of the Project area, while permanent facilities are planned and constructed to serve the same areas. Description Installation of por- table classrooms and related site improve- ments and fixtures to be used for a minimum of three years after installation at the following school sites: a. Valencia High School b. Esperanza High School C. Kraemer Junior High School d. Orchard Elementary School e. Glenview Elementary School f. Rio Vista Elementary School Estimated Cost -7- Iof1 EXHIBIT "B" ARA77-6' LOCATION MAP OF SCHOOL DISTRICT FACILITIES -t _ - i .w �i • a --i I I 1, >1 H 6 + ri r-i >, U —1 O O Y4 H I O r I I r i U) O O rd r♦ si U -p O O m x U U t~ W m U rtS ri U rd I~ O U) U) a) % H 41 rld w Fa4 a) .0 O. �4 FC Q rd �, r-i U U U] x O - w O Q) is +1 l ri a) .(~ (n w p U) ri a) r♦ F:4 a r-i •ri � t7) 1- i N U �" 34 U • �"� QI " w x O H r I U r-I rl Q) �i • r4 b O w x W O rd 14 U) ri • U x O 4 i - H ri (d h w a x o-p (D rd o -p o x x � U•A w a r� $:i �� a ri I~ U a) > w rd x (d (d h U rd a) �4 •r-I -li r-1 E-4 +� a) o (n I~ U 4-) (d N m s~ �4 r (d > > o U z O U U S4 �j ro a) U O 4j •r-I U •r I~ S I r i a) a) a) .(� I~ O W H Z 04 �4 O I~ D 4J ­1 S~ -H U rd () r-i A r 104 (d U a) O C: 1 7 x I to a) c: ro I~ 4-) m }.I I~ 7•4 F� O (d (d to S4 S4 r4 • U O H >i .a.) ri rd a-J a) rd rd ro + a) Q) a) O + > W x O 0 Z W a H }, m rd +) s~ lI (f) s~ rd U cn r1 R, (d �4 a 3 0 a) (d a) �' O 4J O •ri rd In �4 U O . r-i H S•i Q U 4- > w U Q 'J w x w a • r-I U rd rX4 ri N M <Y 111 l0 [� 00 c l O r N M - i ri r r -t _ - i .w �i • a --i I I 1, 1of13 ARA77- 6 EXHIBIT "C" AGRE BET T PLACENTIA UN IFIED SCHOOL DISTRICT AN D THE A NAHEIM REDEV AGENCY THIS AGREEMENT is made and entered into this 27 th day of January , 1977, by and between the PLACENTIA UNIFIED SCHOOL DISTRICT (hereinafter the "School District "), and the ANAHEIM REDEVELOPMENT AGENCY (hereinafter the "Agency "). IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS: R E C I T A L S: A. The Agency is carrying out the Anaheim Redevelopment Project Alpha (hereinafter the "Project ") pursuant to the Redevel- opment Plan for the Project approved and adopted by the City Council of the City by Ordinance No. 3190 on July 19, 1973, as amended by Ordinance No. 3567 on July 20, 1976, and as further amended by Ordinance No. 3631 on November 30, 1976. B. The said Redevelopment Plan includes a provision author- izing the allocation to the Agency of property taxes levied by all taxing agencies on the increase in the assessed valuation of pro- perty within the Project area between the assessed valuation of said property on the 1972/1973 assessment roll and the assessed valuation thereon shown on each assessment roll subsequent thereto. C. A substantial portion of the land area and assessed valua- tion of the Project area is located within the boundaries of the School District. 2of13 ARA7 7- 6 D. The Project has affected and will continue to affect the School District in that the redevelopment of the Project area has resulted and will continue to result in increased student enrollment within the School District by reason of the residential growth which has occurred and will continue to occur inside and outside the Project area because of the .industrial and commercial development within the Project area. E. By reason of the tax allocation provision of the Redeve- lopment Plan, the Project may have certain adverse impacts on. the financing of the School District in that the School District may be deprived of some tax revenues otherwise available to it on cer- tain of its override taxes. F. The Agency is authorized by Section 33401 of the Health and Safety Code to pay the School District any amounts of money which, in the Agency's determination, are appropriate to alleviate any fi -na -cial burden or detriment caused the School District by the G. �n addition, the Agency is authorized by Section 33445 of the Heal= and Safety Code, with the consent of the City Council of the �__r, to pay all or part of the value of the land for and the cost of = e installation and construction of any building, facility, • structur_, or other improvement, (hereinafter sometimes referred to as School District "facilities ") owned or to be owned by the School District, whether within or without the Project area, upon a deter- mination by the City Council that such buildings,facilities, IWM 3 o f :3 ARA77- 6 structures or other improvements are of benefit to the Project area or the immediate neighborhood in which the Project is located and that no other reasonable means of financing such buildings, facilities, structures, or other improvements, are available to the community (the "community" as defined in the Community Redevelop- ment Law means the City of Anaheim). H. The purpose of this Agreement is to provide for appro- priate payments to be made by the Agency to the School District in order: (1) to alleviate the finacial burden or detriment caused to the School District by the allocation of funds to the Agency from certain School District tax levies; and (2) to assist the School District by paying for all or part of the cost of certain School District facilities which are of benefit to the Project area or the immediate neighborhood in which the Project is located and for which no other reasonable means of financing is available to the community. NOW, THEREFORE, the Agency hereby agrees to make the following payments to the School District upon the terms and conditions here- inafter set forth: A. [s 1001 PERMISSIVE OVERRIDE TAXES WITH MAXIMUM RATE LIMIT In accord with provisions of the California Education Code the School District may levy certain permissive override taxes to raise funds for specific educational programs over and above its general purpose budget. Where there is a statutory limit on the tax rate which may be levied by the School District for such programs, the -3- 4 of 13 ARA77- 6 total amount of revenue which the School District may raise, and thus the level of support for the particular educational program, is limited by the maximum rate and the assessed valuation available to the School District. When the School District is levying the maximum rate for such an override tax, but cannot apply such rate against the incremental assessed valuation within the Project, the School District may be unable to support its desired level of expenditures for the program. The Agency and School District desire to alleviate such financial burden and detriment to the School Dis- trict by providing for the payments to be made by the Agency pur- suant to these Sections 100 -103. 1. [S 101] The Agency hereby agrees to pay to the School District each year, commencing with fiscal year 1977/78, the amount of reve as a result of the override tax rates Project within the shall only be made levied at or above nue allocated and paid to the Agency each year application of the following School District to the incremental assessed valuation of the School District, provided that such payments for those listed taxes which are actually said listed rates for the year: Tax Rate Basis for Payment When Override Tax Actually Levied Community Services .10 Regional Occupational Program --- Capital Outlay .05 Meals for Needy Pupils Earthquake Safety �1 NWO -4- 5 of 13 ARA7 7- 6 The override tax rates listed above are the statutory maximum tax rates permitted for the respective programs as of the date of this Agreement. In the event that future changes in state law reduce the maximum permitted override tax rate for any of the pro- grams for which payments are provided under this Section 101, the Agency shall only be required to make payments based on the actual levy of such lower statutory maximum tax rate. In the event that future changes in state law authorize addi- tional permissive override taxes with maximum rate limits or increases in the statutory maximum rate limits of the taxes listed in this Sec- tion 101, the payment provided for herein may be adjusted by mutual agreement of the Agency and School District to include the revenues raised as a result of such changes. 2. [S 1021 The School District will transmit to the Agency on or before September 15 of each fiscal year, its statement of the amount of revenue which it estimates will be raised during the then current fiscal year pursuant to Section 101 above. The Agency agrees to make payments on January 31 and June 30 of each fiscal year of the amount of taxes which have been collected and paid to the Agency by such dates as a result of the levy of the rates specified in Section 101. Any portion of said taxes which the Agency has not received by May 31 in any year shall be paid to the School District at such time as they are allocated and paid to the Agency. Said payments shall include subvention of funds collect- ed and paid to the Agency from other government agencies replacing amounts which otherwise would have been raised by the levy and col- lection of the applicable permissive override tax rate. Any -5- 6of13 ARA77- 6 difference between the estimated and actual amount of revenue raised and paid to the Agency, including prior year taxes collected and so identified by the Tax Collector, in accordance with Section 101 in any fiscal year shall be adjusted in the final payment of such fiscal year. 3. [S 1031 The payments made pursuant to Section 101 shall be expended by the School District only for each purpose and each amount permitted with respect to the program for which the applicable override tax is levied. The School District agrees to provide to the Agency not later than September 15 of each year an accounting of expenditures made and liabilities incurred during the preceding fiscal year with respect to funds paid to the School District pursuant to Section 101 and to certify that the funds pro- vided by the Agency hereunder have been expended in compliance with the requirements of this Agreement. B. B 2001 PAYMENT FOR SCHOOL DISTRICT FACILITIES The continued availability of quality educational opportunities in and around the Project area is an important factor (1) to serve students living in the Project area or the immediate neighborhood in which the Project is located, and (2) to attract additional pri- vate investment into the Project area for development and thus assist in the implementation of the Redevelopment Plan. Moreover, the continued implementation of the Redevelopment Plan will con- tribute to the expected increase in the School District's student population inside and in the immediate neighborhood of the Project area by attracting new residents to the area to work in the industrial 'f• 7 of 13 ARA7 7- 6 and commercial establishments which will be developed in the Project area. Such increase in student population will in turn contribute to the School District's need for new and improved educational and support facilities of various types. The City and ?agency have round by resolutions that the facil- ities li'sted and described in Exhibit "A" and located generally as shown in Exhibit "B" (both of which Exhibits are attached hereto and incorporated herein by this reference) will benefit the Project area and the immediate neighborhood in which the Project is located and that no other reasonable means of financing such facilities is available to the community, the City of Anaheim. The Agency and the School District desire to have the Agency provide financial as- sistance to the School District for the purchase of land and the construction and installation of School District facilities, as listed in Exhibit "A" in the manner set forth in Sections 200 -206. 1. [§ 2011 The Agency hereby agrees to pay to the School District the following amounts to be expended by the School Dis- trict to pay for all or part of the value of the land for and the cost of the installation and construction of the School District buildings, facilities, structures, and other improvements listed in Exhibit "A ", or such other School District facilities as the City and Agency may hereafter approve with appropriate findings by resolution pursuant to the Community Redevelopment Law: a. [§ 2021 Within 90 days of the date of this Agree- ment the Agency shall pay to the School District the amount of One Million Eighteen Thousand Five Hundred and No /Hundredths D61- lars ($1,018,500.00). -7- 8 of 13 ARA7 7- 6 b. [§ 203] For fiscal year 1977 -78 through 1991 -92, both inclusive, the Agency shall pay to the School District each year Four Hundred Seventy Three Thousand Four Hundred Forty -Eight and No /Hundredths Dollars ($473,448.00), plus or minus an amount determined by multiplying $473,448.00 by the total percentage change in the incremental assessed valuation of the Project within the School District as between fiscal year 1976 -77 and the fiscal year of each such payment; provided, however, that the Agency's obligation to make payments to the School District under and by reason of this Section 203 shall be limited in any fiscal year to the amount of funds allocated and paid to the Agency in such fiscal year from the levy of all School District tax rates on the incremental assessed valuation of the Project within the School District for such fiscal year, exclusive of the payments made under Sections 100 -103 of this Agreement. The incremental assessed valuation of the Project within the School District for fiscal year 1976 -77, the base for purposes of computing the total percentage change upward or downward in the incremental assessed valuation as herein provided, is hereby de- termined to be $49,545,712.00. The following table is presented as an example only of the computation of the amount to be paid in a year in accordance with this Section 203: Year of Payment Base Year Incremental Assessed Valuation Payment Year__Incremental Assessed Valuation (Hypothetical) 1977 -78 1978 -79 1979 -80 1980 -81 $49,545,712.00 $49,545,712.00 $49,545,712.00 $49,545,712.00 $53,000,000.00 $45,000,000.00 $55,000,000.00 $59,000,000.00 9 of 13 ARA7 7- 6 (Table Continued) 2. [§ 2041 Within ninety (90) days after the date of this Agreement, the School District shall establish a special fund entitled "Placentia Unified School District Facilities Fund" (the "Fund ") and shall credit to said Fund the payment received from the Agency pur- suant to Section 202. Commencing with fiscal year 1977/1978 and annually thereafter, the School District shall also credit to said Fund the payments received from the Agency pursuant to Section 203. The Agency shall pay to the School District on January 31 the lesser of (1) one -half of the amount due the School District pursuant to Section 203, or (ii) an amount equal to the Agency's tax increment allocations for the then current fiscal year through December 31. The Agency shall pay to the School District by June 30 the lesser of (i) the remainder of the amount due the School District for the then current fiscal year pursuant to Section 203 after deducting the amount previously paid by January 31, or (ii) an amount equal to the Agency's tax in- crement allocations through May 31 when added to the amount pre- viously paid to the School District by the Agency on January 31. Any amount remaining as due to the School District after payments on January 31 and June 30 shall be paid within thirty (30) days following the receipt of tax increment allocations to the Agency sufficient to pay the remaining amount due. If the Agency elects to pay the amount due the School District pursuant to Section 203 Percentage Change Total Year of in Incremental Base Add or Payment Payment Assessed Valuation Paymen Subtract for Year 1977 -78 + 6.97% $473,448.00 +$32,999.32 $506,447.32 1978 -79 - 9.17% $473,448.00 - $43,415.18 $430,032.82 1979 -80 +11.01% $473,448.00 +$52,126.62 $525,574.62 1980 -81 +19.08% $473,448.00 +$90,333.88 $563,781.88 2. [§ 2041 Within ninety (90) days after the date of this Agreement, the School District shall establish a special fund entitled "Placentia Unified School District Facilities Fund" (the "Fund ") and shall credit to said Fund the payment received from the Agency pur- suant to Section 202. Commencing with fiscal year 1977/1978 and annually thereafter, the School District shall also credit to said Fund the payments received from the Agency pursuant to Section 203. The Agency shall pay to the School District on January 31 the lesser of (1) one -half of the amount due the School District pursuant to Section 203, or (ii) an amount equal to the Agency's tax increment allocations for the then current fiscal year through December 31. The Agency shall pay to the School District by June 30 the lesser of (i) the remainder of the amount due the School District for the then current fiscal year pursuant to Section 203 after deducting the amount previously paid by January 31, or (ii) an amount equal to the Agency's tax in- crement allocations through May 31 when added to the amount pre- viously paid to the School District by the Agency on January 31. Any amount remaining as due to the School District after payments on January 31 and June 30 shall be paid within thirty (30) days following the receipt of tax increment allocations to the Agency sufficient to pay the remaining amount due. If the Agency elects to pay the amount due the School District pursuant to Section 203 10 of 13 ARA7 7- 6 from bond sales proceeds, the amount due to the School Dis�-rict shall',be paid in equal installments on January 31 and June 30 of each fiscal year. a. (� 205) All income, whether by interest or otherwise, earned by the School District's Fund shall be the property of the School District and shall be used for the same purposes as the principal pursuant to the Agreement. b. [§ 20 The School District shall not make any ex- penditure from the - _F - _ - .nd, nor incur any liability to be paid from said F und, except t pay all or part of the value of the land for and /or ` cost of -a installation and construction of the School District buildir_ys, facilities, structures, and other improvements listed in Exhibit or such other School District facilities as the C_ =v an *d %,ge c. -,a_y hereafter approve with appropriate findings by resslu_ion purl'­­ to the Cor�Tnunity Redevelopment Law. T" Di strict agrees to g provide to the Agency not later than S=_ .,ber lb of each year an accounting of expenditures made and li = _ities incurred during the preceding fiscal year with respec_ __ f =_- p _d to the School District pursuant to this Agree: -__. Said accounting shall specify the amounts spent or encumb = d for the r structures and other scribe generally the thereof, and contain the Agency hereunder espective School District buildings, facilities, improvements designated in Exhibit "A ", de- status of planning, design and construction a certification that the funds provided by have been expended or encumbered in compliance with the requirements of this Agreement. -10-- 11 of 13 ARA7 7- 6 C. 3001 ADDITIONAL TERMS AND PROVISIONS The payments to the School District of the amounts set forth in Sections 101 and 201 are supported by, limited by, and /or sub- ject to the following additional terms and provisions: 1. [§ 3011 The obligations of the Agency under this Agreement are indebtednesses of the Agency for the purposes of carrying out the Redevelopment Plan for the Project area, which indebtednesses are payable out of and only out of taxes levied by local taxing agencies in the Project area and paid to the Agency under Section 33670 of the Health and Safety Code, or out of bond issues or other borrowings repayable from such taxes. 2. [§ 3021 In the event the Agency desires to issue bonds, notes, or other instruments of indebtedness of the Agency to carry out the Project, then the indebtedness of the Agency under this Agreement shall be deemed not to be a first pledge of tax in- crement allocations received by the Agency pursuant to Health and Safety Code Section 33670; and the indebtednesses of the Agency under this Agreement shall be subordinate to any pledge of tax in- crements to bond holders or the holders of other instruments of indebtedness; provided, however, that the Agency agrees that if tax increments are not available for the payments agreed to here- under because such increments are pledged to the payment of such bonds, notes, or other instruments of indebtedness, then such pay- ments shall be made from the proceeds of bonds, notes, or other instruments of indebtedness issued by the Agency. -11- 3. (§ 3031 School Disrict hold the Agency and the City of Anaheim expenses, damages and liability for any r 12 of 13 ARA7 7- 6 agrees to indemnify and harmless from all claims, injury or damage to p sons or property arising from the construction or operation of any building, facility, structure, or other improvement designated for Agency financial assistance under this Agreement and made against Agency and /or the City of Anaheim as a result of the payment of funds or other performance under this Agreement. If the School District, any agent or contractor of the School District carries liability insurance with respect to the School District facilities which are the subject of this Agreement, School District agrees to name or cause to be named the Agency and the City as additional insureds to the extent of the Agency and City's performance hereunder. 4. f§ 304; This Agreement constitutes the entire understand- ing and Agreements .een the parties and supercedes all previous negotia`ie-_s between them. It is the intent of the Agency and School z`rict that the payments herein provided constitute a full, complete =. =air and equitable adjustment for all financial and other impact= : -__ch have or may result during the term of Agreement from the Pr`_z or any amendment thereto which does not add to the area within S.--_ool District, and for which Agency may make payments to School - under the California Community Redevelopment Law, Health a ^.d Safety Code Section 33000 et seq. - 12 - 13 of 13 ARA77- 6 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed on the date first hereinabove written. PLACENTIA UNIFIED SCHOOL DISTRICT Dated: Dated: January 27, 19 Dated: By ANAHEIM REDEVELOPMENT AGENCY By CHAIRMAN By SECRETARY 13 -