SCH Number 2010112040
- Town of Truckee Redevelopment Agency Redevelopment Plan Amendment
- The Redevelopment Agency is proposing to amend the existing Redevelopment Plan to establish a maximum dollar limit on the principal amount of bonds that can be outstanding at one time. The Plan currently authorizes the Agency to issue bonds, but places no limit on the principal amount of bonded indebtedness to be repaid with tax increment that can be outstanding at one time. Section 33334.1 of the California Redevelopment Law requires that a Redevelopment Plan include such a limitation. The Plan was inadvertently adopted without such a limit, so the Agency is proposing to add a bond limit of $75 million to the Plan.
2 documents in project