California Statutes
§ 33471.5. — 33471.5. (Amended by Stats. 1983, Ch. 1227, Sec. 1.)
California·Code HSC Health and Safety Code - HSC·Div. 24. DIVISION 24. COMMUNITY DEVELOPMENT AND HOUSING·Part 1. PART 1. COMMUNITY REDEVELOPMENT LAW·Ch. 4. CHAPTER 4. Redevelopment Procedures and Activities·Art. 14. ARTICLE 14. Merger of Redevelopment Project Areas in the City of San Bernardino
After the refunding has occurred as provided in Section 33471, not less than 20 percent of all taxes which are allocated to the redevelopment agency pursuant to subdivision (b) of Section 33670 for redevelopment projects merged pursuant to this article shall be used by the agency for the purposes set forth in Section 33334.2, provided that such taxes shall first be used for the payment of principal, interest, and premium, if any, under the bond resolution or resolutions providing for the issuance of the refunding bonds and providing necessary reserves for such refunding bonds, but only to the extent that such refunding is necessary to refinance existing bonded obligations.
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California § 33471.5. (33471.5. (Amended by Stats. 1983, Ch. 1227, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1983, Ch. 1227, Sec. 1. Effective September 30, 1983.