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agency notify the county assessor when the agency has sufficient tax increment funds to fully pay the principal and interest on the maximum indebtedness. The county assessor then will notify the country treasurer, who will discontinue distributing tax increment funds to the URA for the downtown district. At that point, the only revenue coming to the URA for the downtown district will be from such actions as repayment of loans the URA made and the proceeds from the sale of property owned by the URA. Council could choose to terminate the downtown urban renewal district and plan at that point, or could continue it, using only non-tax increment dollars to fund the district’s activities. In addition to the 2009 legislative change noted above, there is another 2009 legislative change that directly affects Eugene and the current discussion about whether to increase the maximum indebtedness amount. HB 3056 provides that increases in maximum indebtedness generally may not exceed an aggregate of 20% of the original spending limit of the plan, including an indexing from July 1, 1998 to July 1, 2009. The index that may be used is the inflation rate included in the initial spending limit calculations. Under the provisions of this new statute, the $33 million original spending limit would increase to $56.4 million, using the original 5% inflation rate from July 1, 1998 to July 1, 2009, and the greatest spending limit figure allowed (without overlapping taxing district concurrence), including a 20% increase from that amount, would be $67.7 million. ~ 2 ~