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property in said Lincoln and Kennedy Park Residential Housing Development Program Area <br /> Allocation Area shall be allocated and distributed as follows: <br /> Except as otherwise provided in said Sections 39 and 56, the proceeds of taxes <br /> attributable to the lesser of the assessed value of the property for the assessment date with <br /> respect to which the allocation and distribution is made for the Lincoln and Kennedy Park <br /> Residential Housing Development Program Area Allocation Area, or the base assessed <br /> value, shall be allocated to and when collected paid into the funds of the respective taxing <br /> units. Except as otherwise provided in said Sections 39 and 56, property tax proceeds in <br /> excess of those described in the previous sentence shall be allocated to the District and <br /> when collected paid into the allocation fund for said Lincoln and Kennedy Park Residential <br /> Housing Development Program Area Allocation Area that may be used by the District to <br /> do one (1) or more of the things specified in Section 56(c) of the Act, as the same may be <br /> amended from time to time. Said allocation funds may not be used for operating expenses <br /> of the Commission. This allocation provision shall expire with respect to the Lincoln and <br /> Kennedy Park Residential Housing Development Program Area Allocation Area on the <br /> later of twenty(20)years from the date of issuance of debt secured by the allocated property <br /> taxes from the Lincoln and Kennedy Park Residential Housing Development Program Area <br /> Allocation Area, or at such time as no bonds payable from allocated property taxes are <br /> outstanding. Except as otherwise provided in the Act, before June 15 of each year, the <br /> Commission shall take the actions set forth in Section 56(d)of the Act with respect to the <br /> Lincoln and Kennedy Park Residential Housing Development Program Area Allocation <br /> Area. <br /> 8. The Commission hereby finds that the further amendments of the Declaratory <br /> Resolution and the Plan, as amended and restated herein, including to designate the Lincoln and <br /> Kennedy Park Residential Housing Development Program Area Allocation Area, conforms to the <br /> comprehensive plan for the City. <br /> 9. The map and plat of the Lincoln and Kennedy Park Residential Housing <br /> Development Program Area Allocation Area showing its boundaries, the location of the various <br /> parcels of property, streets and alleys, and other features affecting the acquisition, clearance, <br /> replatting, replanning, rezoning, redevelopment or economic development of the Lincoln and <br /> Kennedy Park Residential Housing Development Program Area Allocation Area, and the parts of <br /> the Lincoln and Kennedy Park Residential Housing Development Program Area Allocation Area <br /> that are to be devoted to public ways, levees, sewerage, parks, playgrounds and other public <br /> purposes under the Plan, are hereby approved and adopted as the map and plat for the Lincoln and <br /> Kennedy Park Residential Housing Development Program Area Allocation Area. <br /> 10. The Residential Amendments are reasonable and appropriate when considered in <br /> relation to the Declaratory Resolution and the Plan, as amended and restated herein, and the <br /> purposes of the Act. <br /> I I. The findings and determinations set forth in the Declaratory Resolution and the <br /> Plan, as amended and restated herein, are hereby reaffirmed. <br /> - 4- <br />