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CDA Resolution 89-9RESOLUTION NO. 89 - 9
A RESOLUTION OF THE COMMUNITY DEVELOPMENT AGENCY OF
THE CITY OF GILROY AUTHORIZING EXECUTION OF A
FISCAL AGREEMENT BETWEEN THE CITY OF GILROY, THE
COMMUNITY DEVELOPMENT AGENCY OF THE CITY OF GILROY,
AND THE GILROY UNIFIED SCHOOL DISTRICT
WHEREAS, the Community Development Agency of the City of
Gilroy (the "Agency"), the City of Gilroy (the "City") and
the Gilroy Unified School District (the "District") desire
to enter into a Fiscal Agreement (the "Agreement") the terms
of which are set forth in the Agreement attached hereto as
Exhibit A and by this reference incorporated herein; and
WHEREAS, the Agency has prepared the City of Gilroy
Community Redevelopment Plan (the "Plan") and has submitted
the Plan to the City for consideration and potential adoption
in accordance with the procedures and requirements of the
California Community Redevelopment Law (the "CRL") (Health and
Safety Code Section 33000 et. seq.); and
WHEREAS, the Plan calls for redevelopment of a designated
project area (the "Project Area") within the City pursuant to
the CRL; and
WHEREAS, the parties have determined that the adoption by
the City and implementation by the Agency of the Plan would,
but for the agreements set forth in the Agreement, cause a
financial burden or detriment to the District in that
redevelopment of the Project Area will increase demand for
services provided by the District to Project Area residents.
NOW, THEREFORE, BE IT RESOLVED that the Agency hereby
finds and determines, based on evidence provided at this
meeting, that the adoption of the Plan by the City and
implementation by th~ Agency would, but for the agreements set
forth in the Agreement, cause a financial burden or detriment
to the District in that redevelopment of the Project Area will
RESOLUTION NO. 89 -.9
-1-
increase demand for services provided by the District to
Project Area residents.
BE IT FURTHER RESOLVED that the Agency hereby approves
the Agreement described above and authorizes and directs the
Vice Chairperson to execute, on behalf of the Agency, the
Agreement in substantially the form set forth in the attached
Exhibit A, with such changes therein as the Vice Chairperson
may approve, such approval to be conclusively evidenced by the
execution and delivery of the Agreement by the Vice
Chairperson.
Passed and adopted this 13th day of June, 1989, by the
following vote:
AYES:
NOES:
AGENCYMEMBERS: HALE, KLOECKER, }~SSALLEM, PALMERLEE
and VALDEZ.
AGENCYMEMBERS: None
ABSENT: AGENCYMEMBERS: GAGE and HUGHAN.
APPROVED:
L~rry M%{s~a~llem, Vice Chairperson
/Susanne Steinmetz, Agency S~retary
06/09/89
#030EE/B49702
RESOLUTION NO. 8~ - 9
-2-
EXHIBIT "A"
FISCAL AGREEMENT
REGARDING GILROY COMMUNITY
REDEVELOPMENT PROJECT
THIS AGREEMENT (the "Agreement") is made and entered into
thisl3th day of June , 1989, by and among the
COMMUNITY DEVELOPMENT AGENCY OF THE CITY OF GILROY (the
"Agency"), the CITY OF GILROY (the "City"), and the GILROY
UNIFIED SCHOOL DISTRICT (the "District"), on the basis of the
following facts, understandings and intentions of the parties:
RECITALS
A. The Agency is in the process of preparing a proposed
redevelopment plan (the "Redevelopment Plan") for adoption by
the City Council of the City for the Gilroy Community
Redevelopment Project (the "Project") pursuant to the
California Community Redevelopment Law (Health and Safety
Code, Section 33000, et seq.).
B. The proposed Redevelopment Plan contains provisions
for the distribution and allocation of property tax revenues
derived from property located within the area covered by the
Redevelopment Plan (the "Project Area") and allocated to the
Agency pursuant to California Health and Safety Code Section
33670(b) (the "Tax Increment Revenue", as more fully defined
in Section 1 below).
-1-
C.
Secti~
of the Community ReWelopment Law
provides that a redevelopment agency may pay to any taxing
agency any amounts of money which, in the Agency's
determination, are necessary and appropriate to alleviate any
financial burden or detriment caused to such taxing agency by
a redevelopment project.
D. The Agency has determined that, based on certain
reports and evidence submitted by the District, and in a
spirit of mutual cooperation, certain actions as set forth
below are necessary to alleviate the burden and detriment or
potential burden and detriment identified by the District.
E. Pursuant to Health and Safety Code Section
33676(a)(1), the District, by appropriate resolution, has
heretofore made the election to receive future property tax
revenues generated in the Project Area attributable to
increases in the rate of tax imposed for the benefit of the
District after the tax year in which the ordinance adopting
the Redevelopment Plan becomes effective. This Agreement is
not intended in any way to affect the election made by the
District pursuant to Health and Safety Code Section
33676(a)(1).
F. As permitted by Health and Safety Code Section 33676,
this Agreement is entered into by the District in lieu of the
election described in Health and Safety Code Section
33676(a)(2), as more fully set forth in Section 10 below.
-2-
THEREFOR Agency, the City and District agree as
follows: AGREEMENTS
Section 1. General Definitions
In addition to the terms defined elsewhere in this
Agreement, the terms set forth in this Section shall have the
following meanings:
(a) "Base Year Value" means the assessed valuation of the
property within the Project Area as shown on the Fiscal Year
1988-89 assessment roll (Fiscal Year 1988-89 being the "base
year" for the Redevelopment Plan pursuant to Health and Safety
Code Section 33670). As of the date of this Agreement, the
amount of the Base Year Value is $504,807,177.
(b) "District Fund" means the fund designated and
maintained by the District into which all amounts to be paid
by the Agency pursuant to Section 2 below shall be deposited
for use as provided in Section 3 below.
(c) "District Share" means the percentage of the One
Percent TIR Amount that the District would have received if
there were no provision in the Redevelopment Plan for the
allocation of Tax Increment Revenue to the Agency. As of the
date of this Agreement, the District Share is forty-seven and
fifty-three one hundreths percent (47.53%).
(d) "Fiscal Year" means the period commencing on July 1
and ending on the following June 30.
(e) "Normal Growth Revenue" means, for a given Fiscal
Year, the portion of the One Percent TIR Amount that would
be generated if the Base Year Value increased at the rate of
-3-
two and sixt~ one hundreths percent ) per annum
from the Base Year through and including that Fiscal Year. By
way of illustration, Column (4) of Exhibit A (which Exhibit is
incorporated in this Agreement by this reference) sets forth
the Normal Growth Revenue for each Fiscal Year assuming no
change from the Base Year Value in effect as of the date of
execution of this Agreement as set forth in Section l(a) above.
(f) "One Percent TIR. Amount" means, for a given Fiscal
Year, that portion of Tax Increment Revenue allocated to and
actually received by the Agency attributable to the one
percent (1%) County-wide tax rate levied pursuant to
California Constitution Article XIII A, Section l(a).
(g) "Tax Increment Revenue" means those taxes allocated
to and received by the Agency pursuant to Health and Safety
Code Section 33670(b), from increases in the valuation of real
property within the Project Area above the valuation shown on
the assessed valuation roll last equalized prior to the date
of adoption of the ordinance adopting the Redevelopment Plan.
Section 2. Payment of a Portion of Tax Increment Revenue
(a) Beginning in Fiscal Year 1990-91 and continuing
through the term of this Agreement, the Agency shall pay to
the District a portion of the Tax Increment Revenue received
by the Agency for each Fiscal Year in an amount equal to the
product of:
(1) the District Share; times
(2) the lesser of
-4-
A) the One Percent TIR int for the
Fiscal Year, or
(B) the Normal Growth Revenue for the Fiscal
Year.
By way of illustration, Column (5) of the attached
Exhibit A sets forth the amounts payable to the District for
each Fiscal Year under this Section 2(a) assuming no change in
Base Year Value and District Share from those in effect as of
the date of execution of this Agreement (as set forth in
Section l(a) and (c)), and further assuming that the amount
described in subdivision 2(a)(2)(B) above is less than the
amount described in subdivision 2(a)(2)(A) above in'each
Fiscal Year. The parties acknowledge and agree that, in the
event the amount described in subdivision 2(a)(2)(A) turns out
to be less than the amount described in subdivision 2(a)(2)(B)
for a given Fiscal Year, the amount payable to the District
pursuant to this Section 2(a) for that Fiscal Year will be
less than the amount shown in Column (5) of the attached
Exhibit A.
(b) It is anticipated that the Agency will receive its
annual allocation of Tax Increment Revenue in two or three
partial installments during the course of each Fiscal Year
(each such partial installment is hereinafter referred to as a
"Partial TIR Installment"). Within thirty (30) days of
receipt of each such Partial TIR Installment, the Agency
shall pay to the District a partial payment of the amount
payable to the District for the Fiscal Year pursuant to
-5-
subjection (a) (a "Partial District 'ment"). The
amount of each Partial District Payment shall be in the same
proportion to the total amount payable to the District for the
Fiscal Year as the proportion the applicable Agency TIR
Installment is to the total amount of Tax Increment Revenue
payable to the Agency for the Fiscal Year. Each Partial
District Payment shall be accompanied by a statement setting
forth in reasonable detail the basis on which the
determination of the amount of the payment has been made.
Section 3. Use of District Funds
The monies deposited in the District Fund shall be used
to finance projects for the benefit of the District for the
following purposes:
(a) Rehabilitation, construction or reconstruction of:
(1) Permanent or temporary classrooms;
(2) Gyms, pools, athletic or recreational
facilities;
(3) Library, auditorium and school site
administration facilities;
(4) District administrative offices, maintenance
and warehouse facilities;
(5) On-site and off-site public improvements
such as but not limited to, sidewalks,
crosswalks, lights, curbs, gutters and
streets;
(6) Landscaping, irrigation and lighting;
(7) Other ancillary facilities, equipment and
-6-
furnishings appurtenant school or
District facility to make such facilities
operable; and
(8) Buses and transportation costs necessary to
transport students to schools of the
District.
(b) Acquisition of property for public school
facilities, District administrative and other support services.
(c) Design, planning, administrative and engineering
costs equal to not more than twenty percent (20%) of the
acquisition, rehabilitation, construction or reconstruction
cost of the projects undertaken by the District.
Monies otherwise required by this Agreement to be paid
into the District Fund shall be paid, instead, in whole or in
part, to a designee of the District (the "Designee") upon
prior written direction of the District. Such funds paid to a
Designee shall be used to pay, on behalf of the District, the
principal of and interest on loans, construction projects,
money advanced to or indebtedness incurred by such Designee to
finance or refinance in whole or in part the projects set
forth in this Section 3.
Section 4. Limitations on Payment
Notwithstanding any other provision of this Agreement, no
payments shall be made to the District by the Agency:
(a) which would exceed the amount, annually, that the
District would have otherwise received from property taxes
-7-
from the Proj Area had the Redevelo lan not been
adopted; or
(b) the receipt of which Would cause the District to
violate its expenditure limitations under Article XIII-B of
California Constitution as certified by the District to the
State of California pursuant to State law, regulations and
State Department of Education Administrative procedure; or
(c) which would be contrary to the provisions of Section
33401 of the Community Redevelopment Law or violate any other
provision of the Community Redevelopment Law or the laws of
the State of California.
Any excess amounts under subsection (a), (b) or (c) above
shall be retained by the Agency for distribution, in the
Agency's sole discretion, to other taxing entities or for the
purposes of paying indebtedness incurred by the Agency in
carrying out the Project.
Section 5. Reduction in Payments
Notwithstanding any other provision of this Agreement, if
the amount the District would receive from the State of
California would be reduced pursuant to Education Code Section
42238 or other similar or successor provision of law by reason
of a payment made by the Agency to the District pursuant to
Section 2, then the Agency may reduce its payments under this
Agreement to the District by the amount that the amount the
District would receive from the State of California would be
reduced pursuant to Education Code Section 42238 or other
-8-
similar or successor provision of law by of a payment
made by the Agency to the District pursuant to this Agreement.
The parties understand and agree that the District will
only derive benefit from the payments the Agency will make
pursuant to this Agreement to the extent that such payments do
not cause a reduction in payments to the District from the
State pursuant to the Education Code and, for that reason, the
parties have agreed to the provisions of this Section 5.
Section 6. Subordination
The Agency may request the District to subordinate its
right to twenty-four and fifty-three one hundreths percent
(24.53%) of the revenue payable to the District pursuant to
Section 2 above (hereinafter referred to as the "Subordinated
Revenue") to allow the Agency to pledge all or any portion of
the Subordinated Revenue in order to secure repayment of
Agency long-term indebtedness incurred for the Project. For
the purpose of this Agreement "long-term" shall mean in excess
of two(2) years, and "indebtedness" shall not include any
indebtedness of the Agency to the City of Gilroy or other
governmental agency controlled by the Agency or the City of
Gilroy.
The District agrees that its approval of such requests
will not be unreasonably withheld provided that the Agency
first demonstrates to its satisfaction the Agency's
anticipated ability to repay such indebtedness incurred for
the Project without demand being made on the payments due it
under the terms of this Agreement. Such demonstration by the
-9-
Agency
shall that the Subordinated R~ue will be used ~
in the cash-flow of the financing only for additional security
(debt service coverage) and that the Tax Increment Revenue
payable to the Agency will be adequate, over the term of the
indebtedness, to pay one hundred percent (100K) of actual debt
service thereon, to pay the Agency's obligations under this
Agreement, and to pay any other obligations of the Agency
whether statutory or contractual which are or would be
superior to the Agency's obligations under this Agreement.
Any such demonstration shall include, without limitation,
revenue forecasts and debt service schedules.
If, as a result of the subordination provided for in this
Section 6, the payments to the District are reduced below the
amount otherwise payable to it pursuant to this Agreement,
then such reductions shall be treated as an advance by the
District which shall be repaid by the Agency. The unpaid
principal balance thereof shall bear interest at the rate paid
by the State of California Local Agency Investment Fund or its
successor entity. The advances and accrued interest shall be
repaid as promptly as possible, and in any event the Agency
shall use all Tax Increment Revenue available to it, after
payment of principal and interest on the indebtedness to which
the subordination applies and payment of any other obligations
which are superior to the Agency's obligations under this
Agreement (including statutory obligations, such as the
AGency's housing set-aside obligation under Health and Safety
-10-
Code Section
interest.
Section 7.
4.2), to repay such ad~
and accrued
Increase in Shares
The parties recognize that the District Share could be
increased by amendment to existing State law, thus increasing
the amount of revenue payable to the District under this
Agreement. Therefore-, it is agreed that, in the event the
Agency desires to incur long-term indebtedness to be secured
by Tax Increment Revenue, the Agency may project its Tax
Increment Revenue and incur such long-term indebtedness based
upon the District Share and the resulting amount of revenue
payable to the District under this Agreement assuming the
continuing effectiveness of State law in existence at the time
such long-term indebtedness is incurred.
In the event State law is amended after the Agency has
incurred such long-term indebtedness to increase the District
Share and the resulting amount of revenue payable to the
District under this Agreement, then such additional amounts of
revenue shall be payable to the District in accordance with
this Agreement, unless the Agency needs such additional
amounts to avoid a default or condition of default on such
long-term indebtedness. The Agency's obligation to pay such
additional amounts to the District shall be subordinate to the
Agency's obligation to pay debt service on its long-term
indebtedness.
If, in any Fiscal Year, the subordination provided for in
this Section 7 results in a reduction in the amount otherwise
-11-
payable to the ~strict pursuant to this A~ement, then such
reduction shall be treated as an advance by the District which
shall be repaid by Agency. The unpaid principal balance
thereof shall bear interest at the rate paid by the State of
California Local Agency Investment Fund or its successor
entity. The advances and accrued interest shall be repaid as
promptly as possible,-and in any event the Agency shall use
all Tax Increment Revenue.available to it, after payment of
principal and interest on the indebtedness to which the
subordination applies and payment of any other obligations
which are superior to the Agency's obligations under this
Agreement (including statutory obligations, such as the
Agency's housing set-aside obligation under Health and Safety
Code Section 33334.2), to repay such advances and accrued
interest.
Section 8. Indebtedness of Agency
The payments to be made pursuant to this Agreement shall
constitute an indebtedness of the Agency incurred in carrying
out the Project and a pledging of Tax Increment Revenue from
the Project to repay such indebtedness under the provisions of
Article XVI, Section 16 of the California Constitution and
under the California Community Redevelopment Law (with
reference to California Health and Safety Code Section 33675).
Section 9. Indebtedness and Lease Obliqations of District
Notwithstanding any other provisions of this Agreement,
the Agency agrees to transfer to the District in each year of
this Agreement the amount of Tax Increment Revenue it receives
-12-
in such year result of taxes or tax imposed
by the District (as opposed to taxes collected by the County
of Santa Clara for the benefit of and apportioned to the
District and other taxing agencies pursuant to California
Constitution Article XIII A, Section l(a)) on property in
the Project Area (a) for the purpose of paying principal,
interest and prepayment premiums, if any, on bonds issued by
the District prior to the date of execution of this Agreement,
or (b) for the purpose of paying lease payments owed by the
District and payable from such taxes or overrides imposed by
the District which are evidenced and represented by
certificates of participation executed and delivered on behalf
of the District prior to the date of execution of this
Agreement, or (c) which are used to secure bonds issued on
behalf of the District prior to the date of execution of this
Agreement by the Gilroy Unified School District School
Building Corporation or any similar non-profit, public benefit
corporation. The obligation of the Agency to make such
payments shall be in addition to any other obligations of the
Agency contained herein.
Section 10. Waiver of Section 33676(a)(2) Election
The parties agree that this Agreement supersedes any
election heretofore or hereafter made or purported to be made
by the District pursuant to Health and Safety Code Section
33676(a)(2); that any such election or purported election
shall be null and void and of no further force or effect; and
that the District shall receive no payment of Tax Increment
-13-
Revenue other than as expressly provided in this Agreement or
as authorized by the District's separate election to receive
the amount specified in Health and Safety Code Section
33676(a)(1), which separate election shall not be modified by
the terms of this Agreement.
The District shall take such actions as are reasonably
necessary to accomplish the waiver of its election under
Health and Safety Code Section 33676(a)(2) and to notify the
Auditor of the County of Santa Clara or such other
responsible County officials as may be appropriate that the
District has entered into this Agrement in lieu of its
election to receive the amounts permitted by Health and Safety
Code Section 33676(a)(2).
In the event the County of Santa Clara by error or
otherwise makes a payment to the District of funds the
District has waived under Section 33676(a)(2), the District
shall receive and hold the funds in trust for the Agency. The
District shall pay the funds to the Agency and notify the
County of Santa Clara in writing that the funds have been
paid to the Agency pursuant to this Section 10. Upon receipt
of the funds, the Agency shall immediately notify the County
of Santa Clara in writing of its receipt of the funds from
the District pursuant to this Section 10.
Section 11. Rezoninq Excess School Property
Upon receipt of an application from the District for
rezoning meeting the then applicable requirements of the City
of Gilroy Zoning Ordinance, the City shall conduct necessary
-14-
and usual ings relative to rezol ~trict propertie~
which may from time to time become available for commercial,
residential or industrial development.
Section 12. Development of Excess School Property
Upon request of the District, the Agency shall consider
in good faith methods for disposition and development of
identified excess District property within the Project Area
(including methods for allocation of proceeds of any such
disposition and development) in a manner mutually advantageous
to the District and the Agency. Any mutually acceptable
method for such disposition and development shall be evidenced
by an amendment of this Agreement or by separate agreement of
the District and the Agency.
Section 13. District and Agency Cooperation in Development
of Project Area
In accordance with their policies, rules, and
regulations, the District and the Agency will expend the
revenues payable as provided in this Agreement for the
effective implementation of the projects, programs and
services set forth in Section 3 above of mutual benefit to the
District, the Agency, and the City consistent with the goals
and objectives of the Redevelopment Plan.
Section 14. No Contest of Redevelopment Plan
(a) The District acknowledges and agrees that the
payments to be provided and the other fiscal mitigation
measures to be undertaken by the Agency and the City pursuant
to this Agreement will effectively eliminate any financial
-15-
burden or to the District that otherwise be
caused by the adoption and implementation of the Redevelopment
Plan. In consideration of the undertakings of the Agency and
the City described in this Agreement, the District shall
forego any right or remedy it may have in law or equity to
contest the preparation, adoption or validity of the
Redevelopment Plan (including without limitation any right or
remedy pursuant to the California Environmental Quality Act),
and the redevelopment program to be undertaken pursuant to the
Redevelopment Plan. The District further declares its support
for the efforts of the Agency and the City in connection with
preparation, adoption and implementation of the Redevelopment
Plan.
(b) The Agency and the City recognize the District's
agreement not to contest the Redevelopment Plan, as described
in subsection (a) above, as good and legal consideration.
Section 15. Term of Agreement
This Agreement shall be effective as of the date that the
ordinance enacted by the City Council of the City adopting the
Redevelopment Plan for the Project becomes effective and shall
terminate upon the earlier of (a) the payment in full of all
Agency debts incurred pursuant to the Redevelopment Plan, or
(b) the filing of an action in a court of competent
jurisdiction or an administrative action by any person or
entity challenging the adoption of the Redevelopment Plan or
any of the proceedings in connection therewith. In the event
such a lawsuit is filed or such an administrative action
-16-
commences or , the Agency shall n~ required to pay
the District any amounts due under this Agreement until
resolution of such lawsuit or administrative action; provided,
however, that in the event such lawsuit or administrative
action is finally determined to uphold the validity of the
Redevelopment Plan, the Agency shall pay to the District any
amounts due to the District pursuant to this Agreement
(including interest accrued thereon, if any) which become due
during the pendency of such lawsuit or administrative action.
Such payment shall be due to the District as soon as possible
after such determination. Following termination, neither of
the parties shall have any rights or obligations under this
Agreement.
Section 16. Obligation to Defend Agreement
In the event litigation is initiated attacking the
validity of this Agreement, each party shall in good faith
defend and seek to uphold the Agreement. The District further
agrees to indemnify and hold the Agency harmless in the event
that any person or entity not a party to this Agreement (a
"third party") seeks to recover from the Agency funds that
such third party claims were unlawfully paid to the District
pursuant to this Agreement.
Section 17. State Law
This Agreement, and the rights and obligations of the
parties hereto, shall be constructed and enforced in
accordance with the laws of the State of California.
Section 18. Attorneys' Fees
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In any n which the Agency, or ity, the District
brings to enforce its rights hereunder, the unsuccessful party
shall pay all costs incurred by the prevailing party,
including reasonable attorneys' fees.
Section 19. Successors and Assiqns
This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective heirs,
successors and assigns.
Section 20. Entire Agreement
This Agreement constitutes the entire agreement of the
parties with respect to the subjects covered herein.
-18-
IN WITNESS WHEREOF, the parties have executed this
Agreement as of the date first above written.
Attest:
Susanne Steinmetz,
Agency Secretary
COMMUNITY DEVELOPMENT AGENCY
OF~THE CITY OF GILROY
La~ry F~us's a 11 em,
Agency Vice Chair
Attest:
Susanne Steinmetz,
City Clerk
By:
CITY OF GILROY
Larry M~$'S~i lem,
Mayor Pro Tempore
Attest:
GILROY UNIFIED SCHOOL
DISTRICT
By:
06/07/89
~B027/B49702
-19-
TA
NORMAL GROkTH REVENUE
¢1)
FISCAL
YEAR
ENDING
(2)
ASSESSESED
VALUE
BASED ON
2.67X
GROWTH RATE
(3)
INCREMENTAL
ASSESSED VALUE
(4)
NOR~L4, L
GROWTH
REVENUE
(5)
DISTRIUT
SHARE
AT 47.53%
1988-89
1989-90
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-2000
2000-01
2001-02
2002-03
2003-04
· 2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
2013-14
2014-15
2015-16
2016-17
2017-18
2018-19
2019-20
2020-21
2021-22
2022-23
2023-24
2024-25
2025-26
2026-27
2027-28
2028-29
2029-30
61 LROYPT
504,807,177
518,285,529
532,123,752
546,331,456
560,918,506
575,895,030
591,271,428
607,058,375
623,266,833
639,908,058
656,993,603
674,535,332
692,545,426
711,036,389
730,021,060
749,512,622
769,524,609
790,070,916
811,165,810
832,823,937
855,060,336
877,890,447
901,330,122
925,395,636
950,103,700
975,471,469
1,001,516,557
1,028,257,049
1,055,711,512
1,083,899,010
1,112,839,113
1,142,551,917
1,173,058,054
1,204,378,704
1,236,535,615
1,269,551,116
1,303,448,131
1,338,250,196
1,373,981,476
1,410,666,781
1,448,331,584
1,487,002,038
0
13,478,352
27,316,575
41,524,279
56,111,329
71,087,853
86,464,251
102,251,198
118,459,656
135,100,881
152,186,426
169,728,155
187,738,249
206,229,212
225,213,883
244,705,445
264,717,432
285,263,739
306,358,633
328,016,760
350,253,159
373,083,270
396,522,945
420,588,459
445,296,523
470,664,292
496,709,380
523,449,872
550,904,335
579,091,833
608,031,936
637,?44,740
668,250,877
699,571,527
731,728,438
764,743,939
798,640,954
833,443,019
869,174,299
905,859,604
943,524,407
082,194,861
0
0
273,166
415,243
561,113
710,879
864,643
1,022,512
1,184,597
1,351,009
1,521,864
1,697,282
1,877,382
2,062,292
2,252,139
2,447,054
2,647,174
2,852,637
3,063,586
3,280,168
3,502,532
3,?30,833
3,965,229
4,205,885
4,452,965
4,?0Q,643
4,967,094
5,234,499
6,509,043
6,790,918
6,080,319
6,377,447
6,682,509
6,995,715
7,317,284
?,647,439
?,986,410
8,334,430
8,691,743
9,058,596
9,435,244
9,821,949
0
0
129,836
197,365
266,697
337,881
410,965
486,000
563,039
642,134
723,342
806,718
892,320
980,207
1,070,442
1,163,085
1,258,202
1,355,859
1,456,123
1,559,064
1,664,753
1,773,265
1,884,674
1,999,057
2,116,494
2,237,067
2,360,860
2,487,957
2,618,448
2,752,423
2,889,976
3,031,201
3,176,196
3,325,063
3,477,905
3,634,828
3,795,940
3,961,355
4,131,185
4,305,551
4,484,572
4,668,372
TOTAL 81,076,420
I hereby certify that the foregoing is a full, true and correct
copy of a resolution duly passed and adopted by the Community Development
Agency of the City of Gilroy, California, at a meeting thereof, held on the
13th day of June, 1989.
(Seal)