Maintenance of Tax Revenues. The Agency shall comply with all requirements of the Redevelopment Law to insure the allocation and payment to it of the Tax Revenues, including without limitation the timely filing of any necessary statements of indebtedness with appropriate officials of the County and (in the case of supplemental revenues and other amounts payable by the State) appropriate officials of the State. The Agency shall not amend the Redevelopment Plan or enter into any agreement with any other governmental or private entity, which would have the effect of reducing the amount of Tax Revenues otherwise available to the Agency for payment of the Loan, unless the Agency shall first obtain the Report of an Independent Redevelopment Consultant stating that the Tax Revenues for the then current Fiscal Year (calculated on the assumption that such reduction of Tax Revenues was in effect throughout such Fiscal Year), shall be at least equal to one hundred percent (100%) of Maximum Annual Debt Service and all Parity Debt.
Maintenance of Tax Revenues. The Agency shall comply with all requirements of the Redevelopment Law to insure the allocation and payment to it of the Tax Revenues, including without limitation the timely filing of any necessary statements of indebtedness with appropriate officials of the County and (in the case of supplemental revenues and other amounts payable by the State) appropriate officials of the State. The Agency will not enter into any agreement with the City or any other governmental unit which would have the effect of reducing the amount of Tax Revenues available to the Agency for payment of the Loan. The Agency represents, covenants and agrees that it has not and will not incur any loans, obligations or indebtedness payable from Tax Revenues such that the total aggregate debt service on said loans, obligations or indebtedness incurred from and after the date of adoption of the Redevelopment Plan, when added to any Parity Debt, the Loan, the Senior Debt and the Prior Loan, will exceed the maximum amount of Tax Revenues to be divided and allocated to the Agency pursuant to the Redevelopment Plan. Subject to the preceding sentences, nothing in this Loan Agreement is intended or shall be construed in any way to prohibit or impose any limitations on the entering into by the Agency of any such agreement, amendment or supplement which by its term is subordinate to the payment of the Loan and any Parity Debt.
Maintenance of Tax Revenues. The City will use its best efforts to comply with all provisions of law and any regulations issued thereunder relating to the Tax Revenues, including, but not limited to, the Measure R Ordinance, the Measure M Ordinance, and the Proposition C Ordinance, and will take any and all reasonable actions required in order to maintain the City’s ability to receive the Tax Revenues and apply the same as provided herein. The City covenants and agrees to take all actions and make all submittals and filings required to obtain all required approvals from the Los Angeles County Metropolitan Transportation Authority necessary to ensure timely distribution of the Tax Revenues to the City or relating to the use of the Tax Revenues to pay 2021 Installment Sale Payments, Administration Fees, and otherwise as described under this Agreement.
Maintenance of Tax Revenues. The Agency shall comply with all requirements of the Redevelopment Law to insure the allocation and payment to it of the Tax Revenues, including without limitation the timely filing of any necessary statements of indebtedness with appropriate officials of the County and (in the case of supplemental revenues and other amounts payable by the State) appropriate officials of the State. The Agency shall not amend the Redevelopment Plan, or enter into any agreement with the County or any other governmental or private entity, which would have the effect of reducing the amount of Tax Revenues otherwise available to the Agency for payment of the Loan.
