33675
. (a) The portion of taxes required to be allocated pursuant
to subdivision (b) of Section 33670 shall be allocated and paid to
the agency by the county auditor or officer responsible for the
payment of taxes into the funds of the respective taxing entities
pursuant to the procedure contained in this section.
(b) Not later than October 1 of each year, for each redevelopment
project for which the redevelopment plan provides for the division of
taxes pursuant to Section 33670, the agency shall file, with the
county auditor or officer described in subdivision (a), a statement
of indebtedness and a reconciliation statement certified by the chief
financial officer of the agency.
(c) (1) For each redevelopment project for which a statement of
indebtedness is required to be filed, the statement of indebtedness
shall contain all of the following:
(A) For each loan, advance, or indebtedness incurred or entered
into, all of the following information:
(i) The date the loan, advance, or indebtedness was incurred or
entered into.
(ii) The principal amount, term, purpose, interest rate, and total
interest of each loan, advance, or indebtedness.
(iii) The principal amount and interest due in the fiscal year in
which the statement of indebtedness is filed for each loan, advance,
or indebtedness.
(iv) The total amount of principal and interest remaining to be
paid for each loan, advance, or indebtedness.
(B) The sum of the amounts determined under clause (iii) of
subparagraph (A).
(C) The sum of the amounts determined under clause (iv) of
subparagraph (A).
(D) The available revenues as of the end of the previous year, as
determined pursuant to paragraph (10) of subdivision (d).
(2) The agency may estimate the amount of principal or interest,
the interest rate, or term of any loan, advance, or indebtedness if
the nature of the loan, advance, or indebtedness is such that the
amount of principal or interest, the interest rate or term cannot be
precisely determined. The agency may list on a statement of
indebtedness any loan, advance, or indebtedness incurred or entered
into on or before the date the statement is filed.
(d) For each redevelopment project for which a reconciliation
statement is required to be filed, the reconciliation statement shall
contain all of the following:
(1) A list of all loans, advances, and indebtedness listed on the
previous year's statement of indebtedness.
(2) (A) A list of all loans, advances, and indebtedness, not
listed on the previous year's statement of indebtedness, but incurred
or entered into in the previous year and paid in whole or in part
from revenue received by the agency pursuant to Section 33670. This
listing may aggregate loans, advances, and indebtedness incurred or
entered into in the previous year for a particular purpose (such as
relocation expenses, administrative expenses, consultant expenses, or
property management expenses) into a single item in the listing.
(B) For purposes of this section, any payment made pursuant to
Section 33684 shall be considered as payment against existing
passthrough payment indebtedness as listed on the agency's statement
of indebtedness. If the most recent statement of indebtedness
documents failed to include all or a part of the agency's obligation
to the passthrough payments, those obligations shall be added to the
next statement of indebtedness to be filed and shall include both
current payments plus all future passthrough obligations.
(3) For each loan, advance, or indebtedness described in paragraph
(1) or (2), all of the following information:
(A) The total amount of principal and interest remaining to be
paid as of the later of the beginning of the previous year or the
date the loan, advance, or indebtedness was incurred or entered into.
(B) Any increases or additions to the loan, advance, or
indebtedness occurring during the previous year.
(C) The amount paid on the loan, advance, or indebtedness in the
previous year from revenue received by the agency pursuant to Section
33670.
(D) The amount paid on the loan, advance, or indebtedness in the
previous year from revenue other than revenue received by the agency
pursuant to Section 33670.
(E) The total amount of principal and interest remaining to be
paid as of the end of the previous fiscal year.
(4) The available revenues of the agency as of the beginning of
the previous fiscal year.
(5) The amount of revenue received by the agency in the previous
fiscal year pursuant to Section 33670.
(6) The amount of available revenue received by the agency in the
previous fiscal year other than pursuant to Section 33670.
(7) The sum of the amounts specified in subparagraph (D) of
paragraph (3), to the extent that the amounts are not included as
available revenues pursuant to paragraph (6).
(8) The sum of the amounts specified in paragraphs (4), (5), (6),
and (7).
(9) The sum of the amounts specified in subparagraphs (C) and (D)
of paragraph (3).
(10) The amount determined by subtracting the amount determined
under paragraph (9) from the amount determined under paragraph (8).
The amount determined pursuant to this paragraph shall be the
available revenues as of the end of the previous fiscal year.
(e) For the purposes of this section, available revenues shall
include all cash or cash equivalents held by the agency that were
received by the agency pursuant to Section 33670 and all cash or cash
equivalents held by the agency that are irrevocably pledged or
restricted to payment of a loan, advance, or indebtedness that the
agency has listed on a statement of indebtedness. In no event shall
available revenues include funds in the agency's Low and Moderate
Income Housing Fund established pursuant to Section 33334.3. For the
purposes of determining available revenues as of the end of the
1992-93 fiscal year, an agency shall conduct an examination or audit
of its books and records for the 1990-91, 1991-92, and 1992-93 fiscal
years to determine the available revenues as of the end of the
1992-93 fiscal year.
(f) For the purposes of this section, the amount an agency will
deposit in its Low and Moderate Income Housing Fund established
pursuant to Section 33334.3 shall constitute an indebtedness of the
agency. For the purposes of this section, no loan, advance, or
indebtedness that an agency intends to pay from its Low and Moderate
Income Housing Fund established pursuant to Section 33334.3 shall be
listed on a statement of indebtedness or reconciliation statement as
a loan, advance, or indebtedness of the agency. For the purposes of
this section, any statutorily authorized deficit in or borrowing from
an agency's Low and Moderate Income Housing Fund established
pursuant to Section 33334.3 shall constitute an indebtedness of the
agency.
(g) The county auditor or officer shall, at the same time or times
as the payment of taxes into the funds of the respective taxing
entities of the county, allocate and pay the portion of taxes
provided by subdivision (b) of Section 33670 to each agency. The
amount allocated and paid shall not exceed the amount determined
pursuant to subparagraph (C) of paragraph (1) of subdivision (c)
minus the amount determined pursuant to subparagraph (D) of paragraph
(1) of subdivision (c).
(h) (1) The statement of indebtedness constitutes prima facie
evidence of the loans, advances, or indebtedness of the agency.
(2) (A) If the county auditor or other officer disputes the amount
of loans, advances, or indebtedness as shown on the statement of
indebtedness, the county auditor or other officer shall, within 30
days after receipt of the statement, give written notice to the
agency thereof.
(B) The agency shall, within 30 days after receipt of notice
pursuant to subparagraph (A), submit any further information it deems
appropriate to substantiate the amount of any loans, advances, or
indebtedness which has been disputed. If the county auditor or other
officer still disputes the amount of loans, advances, or
indebtedness, final written notice of that dispute shall be given to
the agency, and the amount disputed may be withheld from allocation
and payment to the agency as otherwise required by subdivision (g).
In that event, the auditor or other officer shall bring an action in
the superior court in declaratory relief to determine the matter not
later than 90 days after the date of the final notice.
(3) In any court action brought pursuant to this section, the
issue shall involve only the amount of loans, advances, or
indebtedness, and not the validity of any contract or debt instrument
or any expenditures pursuant thereto. Payments to a trustee under a
bond resolution or indenture of any kind or payments to a public
agency in connection with payments by that public agency pursuant to
a lease or bond issue shall not be disputed in any action under this
section. The matter shall be set for trial at the earliest possible
date and shall take precedence over all other cases except older
matters of the same character. Unless an action is brought within the
time provided for herein, the auditor or other officer shall
allocate and pay the amount shown on the statement of indebtedness as
provided in subdivision (g).
(i) Nothing in this section shall be construed to permit a
challenge to or attack on matters precluded from challenge or attack
by reason of Sections 33500 and 33501. However, nothing in this
section shall be construed to deny a remedy against the agency
otherwise provided by law.
(j) The Controller shall prescribe a uniform form of statement of
indebtedness and reconciliation statement. These forms shall be
consistent with this section. In preparing these forms, the
Controller shall obtain the input of county auditors, redevelopment
agencies, and organizations of county auditors and redevelopment
agencies.
(k) For the purposes of this section, a fiscal year shall be a
year that begins on July 1 and ends the following June 30.