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CITY COUNCIL OF THE CITY OF PLEASANTON <br />ALAMEDA COUNTY, CALIFORNIA <br />RESOLUTION NO. 01-095 <br /> <br />RESOLUTION CONCERNING THE EXCHANGE OF <br />PROPERTY TAX REVENUE FOR ANNEXATION NO. 149 <br />(STAPLES RANCH PHASE II) <br /> <br />WHEREAS, <br /> <br />Section 99 of the Revenue and Taxation Code (AB 8) provides, among other <br />things, that no local agency jurisdictional change can be completed without the <br />agencies affected by such change first having agreed upon an exchange of property <br />tax revenue between and among the affected agencies; and <br /> <br />WHEREAS, <br /> <br />the City of Pleasanton staff has recommended to the Pleasanton City Council, and <br />the County of Alameda staff has recommended to the Board of Supervisors, a <br />method for equitably distributing the property taxes for the Staples Ranch <br />property, namely that the City receive the same share of the 1% property tax rate <br />from the Staples Ranch property that it receives on a weighted average citywide. <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES <br />AS FOLLOWS: <br /> <br />Section 1: <br />Section 2: <br /> <br />The Mayor of the City of Pleasanton is hereby authorized to sign the attached <br />Property Tax Sharing Agreement. <br /> <br />The annexation by the City of Pleasanton of the Staples Ranch property located in <br />unincorporated Alameda County will be effective as to each property annexed <br />within the annexation area for the fiscal year following the filing with the State <br />Board of Equalization of the Certificate of Completion for such property, provided <br />the filing occurs prior to December 31 of the preceding year. <br /> <br />Section 3: <br /> <br />The Auditor-Controller of the County of Alameda shall be directed to cause an <br />exchange of property tax revenues pursuant to the provisions of the attached <br />Property Tax Sharing Agreement between the County of Alameda and the City of <br />Pleasanton. <br /> <br />Section 4: This resolution shall become effective immediately upon its passage and adoption. <br /> <br /> <br />