HomeMy WebLinkAboutReso 5-1984 RESOLUTION NO. 5-84
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION AGREEING TO ACCEPT A NEGOTIATED EX-
CHANGE OF PROPERTY ,TAX REVENUES BETWEEN THE CITY
OF SOUTH SAN FRANCISCO AND THE COUNTY OF SAN MATEO
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 revenue as a result of the proposed annexation of Lands of
Poletti to the City of South San Francisco; and
WHEREAS, the subject determination has been made prior' to and as a con-
dition precedent to the Executive Officer of the Local Agency Formation Com-
mission 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; and
WHEREAS, it has been agreed that the amount of property tax revenue pro-
duced by an incremental factor of .0398 for the affected properties will be trans-
ferred between the County Library and the City of South San Francisco in tax rate
area 81-003; and
WHEREAS, it has been agreed that the amount of property tax revenue pro-
duced by an incremental factor of .0741 for the affected properties will be trans-
ferred between the County Fire ~revention District and the City of South San
Francisco in the tax rate area 81-003; and
WHEREAS, it has been agreed that the amount of property tax ~revenue produced
by an incremental factor of .0498 for the affected properties will be transferred
between the General County and the City of South San Francisco in tax rate area
81-003;
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 .the 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
Francisco in tax rate area 81-003.
4. The annual tax increment shall be allocated in the same manner in
future years.
5. In accordance with Section 3a of Arti.cle XIIIB of the State Constitu-
tion, the appropriation limit of the City of South San Francisco shall be increased
by the amounts listed above and the appropriation limits of the transferor entities
described above shall be decreased by the same amount.
6. The exchange of said revenues is approved conditioned upon the com-
pletion of the proposed annexation of Lands of Poletti to the City of South San
Francisco.and is effective immediately upon completions.of the annexation.
I hereby certify that the foregoing Resolution was regularly introduced
and adopted by the City Council of the City of South San Francsco at a regular
meeting held on the llth day of J,n~Jary , 1984, by the folloWing vote:
AYES' Councilmembers Mark N. A~i~.on, Fmanu~l~. N. F)~monte, ~L~S Nicolopulos~
NOES:
ABSENT:
and R°berta Cerri T~oli,
Councilman Richard A. H,ffP, y
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