RES 00116 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, CALIFORNIA RESOI.UTION NO. 00-116 RESOLUTION CONCERNING THE EXCHANGE OF PROPERTY TAX REVENUE FOR THE SAN FRANCISCO BERNAL AVENUE PROPERTY WtIEREAS, Scction 99 of the Revenue and Taxation Code (AB 8) provides, among other things, that no local agency jurisdictional change can be completed without the agencies affected by such change first having agreed upon an exchange of property tax revenue between and among the affected agencies; and WHEREAS, the City of Pleasanton staff has recommended to the Pleasanton City Council, and the County of Alameda staff' has rccormnended to the Board of Supervisors, a mcdiod for equitably distributing the property taxes fbr the San Francisco Bemal Avenue property, namely that the City receive the same share of the 1% property tax rate from the Boreal Avenue property that it receives on a weighted average citywide; and WHEREAS, the proposed distribution is described more litlly in the attached Property 'Fax Sharing Agreement between the City and the County. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: Section 2: Section 3: The Mayor of the City of Pleasanton is hereby authorized to sign the attachcd Property Tax Sharing Agrecmcnt. The annexation by the City of Pleasanton of the San Francisco Bemal Avenue property located in unincorporated Almueda County will be efl~ctivc as to each property annexed within the annexation area for the fiscal year following the filing with the State Board of Equalization of the Certificate of Completion for such property, provided the filing occurs prior to December 31 of the preceding year. The Auditor-Controller of the County of Almneda shall be directed to cause an exchange of property tax revenues pursuant to the provisions of the attached Property Tax Sharing Agreement between the County of Almneda and the City of Pleasanton.