HomeMy WebLinkAboutReso 165-1982 RESOLUTION NO. 165-82
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION AGREEING TO ACCEPT A NEGOTIATED EXCHANGE
OF PROPERTY'TAX REVENUES BETWEEN THE CITY OF SOUTH SAN
FRANCISCO AND THE COUNTY OF SAN MATEO RESULTING FROM
THE ANNEXATION'OF LANDS OF DeNARDI
WHEREAS, Section 99 of the Revenue and Taxation Code requires that the
County of San Mateo and the City of South San Francisco agree to an-exchange of
property tax revenues as a result of the proposed annexation of Lands of DeNardi
to the City of South San Francisco; and
WHEREAS, the subject determination has been made prior to and as a condi-
tion precedent to the Executive Officer of the Local Agency Formation Commission
issuing the Certificate of Filing on said proposal; and
WHEREAS, the City of South San Francisco in making this determination has
reviewed the proposed exchange of property tax revenues and the amount of said
exchange;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South
San Francisco that'
1. The amount of property tax revenue produced by an incremental factor
of .0398 will be transferred from COunty Library to the City of South San Francisco
in tax rate area 81-003.
2. The amount of property tax revenue produced by an incremental factor
of .0741 will be transferred from the County Fire Protection District to the City
of South San Francisco in tax rate area 81-003.
3. The amount of property tax revenue produced by an incremental factor
of .0498 will be transferred from the General County to the City of South San
in tax rate area 81-003.
4. In accordance with Section 3a of Article XIIIB of the State Constitution,
the appropriation limit of the City of South San Francisco shall be increased
by the amounts indicated in Paragraphs 1, 2 and 3 above, and the appropriation
limits of the transferor entities described therein shall be decreased by the
same amount.
5. The annual tax increment shall be allocated in the same manner in
future years.
6. The exchange of said revenues is approved conditioned upon the com-
pletion of the proposed annexatiOn of Lands of DeNardi to the City of South San
Francisco and is effective immediately upon completion of that annexation.
I hereby certify that the foregoing Resolution was regularly introduced
and adopted by the City Council of the City of South San .Francisco at a
meeti~ng held on the 15thday of December , 1982 , by the following vote-
AYES: Councilmembers Ronald G. Acosta, M, rk N. Aa~i~.gn, Fm, nu~lP N. r),mnnte,
Gus Nicolopulos; and Roberta Cerri T~gli,
NOES: None
ABSENT: None
ATTEST'