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RESOLUTION NO. 12-572 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON, <br /> AGREEING TO THE EXCHANGE OF PROPERTY TAX REVENUE FOR <br /> REORGANIZATION/ANNEXATION NO. 153 (BALCH) <br /> WHEREAS, Section 99 of the Revenue and Taxation Code (AB 8) provides, among <br /> other things, that no local agency jurisdictional change can be completed without the agencies <br /> affected by such change first having agreed upon an exchange of property tax revenue between <br /> and among the affected agencies; and <br /> WHEREAS, the City of Pleasanton staff has recommended to the Pleasanton City <br /> Council; and the County of Alameda staff has recommended to the Board of Supervisors, a <br /> method for equitably distributing the property taxes for the Balch property, namely that the City <br /> receive the same share of 1% property tax rate from the Balch property that it receives on a <br /> weighted average citywide. <br /> NOW, THEREFORE BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF <br /> PLEASANTON DOES RESOLVE, DECLARE, DETERMINE AND ORDER THE FOLLOWING: <br /> SECTION 1. The Mayor of the City of Pleasanton is hereby authorized to sign the <br /> attached Property Tax Sharing Agreement. <br /> SECTION 2. The annexation by the City of Pleasanton of the Balch property located in <br /> unincorporated Alameda County will be effective as to each property annexed within the <br /> annexation area for the fiscal year following the filing with the State Board of Equalization of the <br /> Certificate of Completion for such property, provided the filing occurs prior to December 31 of <br /> the proceeding year. <br /> SECTION 3. The Auditor-Controller of the County of Alameda shall be directed to <br /> cause an exchange of property tax revenues pursuant to the provisions of the attached Property <br /> Tax Sharing Agreement between the County of Alameda and the City of Pleasanton. <br /> SECTION 4. This resolution shall become effective immediately upon its passage and <br /> adoption. <br /> PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at <br /> a regular meeting held on October 16, 2012. <br /> I, Karen Diaz, City Clerk of the City of Pleasanton, California, certify that the foregoing <br /> resolution was adopted by the City Council at a regular meeting held on the 113th day of October, <br /> 2012, by the following vote: <br /> Ayes: Councilmembers Cook-Kallio, McGovern, Sullivan, Thorne, Mayor Hosterman <br /> Noes: None <br /> Absent: None <br /> Abstain: None <br />