RES 01088 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, ALAMEDA RESOLUTION NO. 01-088 RESOLUTION CONCERNING THE EXCHANGE OF PROPERTY TAX REVENUE FOR ANNEXATION/DETACHMENT NO. 148 (VINEYARD AVENUE REALIGNMENT) WHEREAS, Section 99 of the Revenue and Taxation Code (AB 9) 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 recommended to the Board of Supervisors, a method for equitably distributing the property taxes for the Vineyard Avenue property, namely that the City receive the same share of the 1% property tax rate from the Vineyard Avenue property that it receives on a weighted average citywide. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: Section 2: The Mayor of the City of Pleasanton is hereby authorized to sign the attached Property Tax Sharing Agreement. The annexation and detachment by the City of Pleasanton of the Vineyard Avenue property will be effective as to each property annexed and detached 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. Section 3: The Auditor-Controller of the County of Alameda 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 Alameda and the City of Pleasanton. Section 4: This resolution shall become effective immediately upon its passage and adoption.