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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />ORDINANCE NO. 0-24-94 <br />AN ORDINANCE OF THE MAYOR AND CITY COUNCIL OF <br />THE CITY OF COLTON, CALIFORNIA ESTABLISHING AND <br />AMENDING CERTAIN LIMITATIONS WITH RESPECT TO THE <br />REDEVELOPMENT PLAN FOR THE COOLEY RANCH <br />REDEVELOPMENT PROJECT <br />WHEREAS, the Redevelopment Agency for the City of Colton (the <br />"Agency"), has formulated, prepared and approved the Redevelopment <br />Plan for the Cooley Redevelopment Project (the "Redevelopment <br />Plan"); and <br />WHEREAS, the Mayor and City Council of the City of Colton (the <br />"City Council"), approved and adopted the Redevelopment Plan <br />pursuant to a duly enacted Ordinance; and <br />WHEREAS, the Redevelopment Plan has been subsequently amended <br />on three (3) occasions by the City Council and the Agency (the <br />"Redevelopment Plan As Amended"). <br />WHEREAS, Section 33333.6 of the California Community <br />Redevelopment Law has established certain limitations on the <br />incurring and repaying of indebtedness and the duration of <br />redevelopment plans, which limitations apply to every redevelopment <br />plan adopted on or before December 31, 1993; and <br />WHEREAS, Section 33333.6 further provides that unless a <br />redevelopment plan adopted prior to January 1, 1994, already <br />contains limitations which comply with that Section, the <br />legislative body shall adopt an ordinance on or before December 31, <br />1994, to amend the redevelopment plan either 1) to amend an <br />existing time limit that exceeds the applicable time limit <br />established by that Section, or 2) to establish time limits that do <br />not exceed the provisions of that Section. <br />-I- <br />