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<br /> <br /> <br /> <br /> <br /> <br /> Section 7: The Kingsland Walk Special Allocation Fund is hereby established. The <br /> Kingsland Walk Special Allocation shall have a "RPA-1 Account," a "RPA-2 Account" and such other <br /> accounts and subaccounts as may be necessary or desirable for the administration of the Redevelopment <br /> Plan. All moneys deposited in the Kingsland Walk Special Allocation Fund shall be applied in such <br /> manner consistent with the Redevelopment Plan as determined by thecity Council. <br /> Section 8: The City Clerk is hereby directed to submit a certified copy of this Ordinance to <br /> the County Assessor, who is directed to determine the total equalized assessed value of all taxable real <br /> property within the Redevelopment Area as of the date of this Ordinance, by adding together the most <br /> recently ascertained equalized assessed value of each taxable lot, block, tract or parcel of real property <br /> within the Redevelopment Area, and shall certify such amount as the total initial equalized assessed value <br /> of the taxable real property within the Redevelopment Area. The City Clerk is further directed to submit a <br /> certified copy of this Ordinance to the County Collector, and the CityFinance Director is directed to certify <br /> to the County Collector the amount of taxes derived from economic activities within the Redevelopment <br /> Area in the calendar year prior to the adoption of this Ordinance, as prescribed itSection 6 hereof. <br /> Section 9: The sections of this Ordinance shall be severable. If any section of this Ordinance <br /> is found by a court of competent jurisdiction to be invalid, the remaining sections shall remain valid, unless <br /> the court finds that: (i) the valid sections are so essential to and inseparably connected with and dependent <br /> upon the void section that it cannot be presumed that the City Council has or would have enacted the valid <br /> sections without the void ones; and (ii) the valid sections, standing alone, are incomplete and are incapable <br /> of being executed in accordance with the legislative intent. <br /> <br /> Section 10: This Ordinance shall be in full force and effect from and after the date of its <br /> passage by the City Council and approval by the Mayor. <br /> PASSED this 7 h day of December, 2009. <br /> <br /> <br /> <br /> <br /> ayor <br /> <br /> ATTEST: <br /> <br /> <br /> lerk <br /> <br /> <br /> CERTIFIED TO BE CORRECT AS TO FORM: <br /> <br /> <br /> a*&J- <br /> City Att tly <br /> <br /> <br /> <br /> <br /> <br /> <br /> -4- <br />