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AGREEMENT BETWEEN THE COUNTY OF ALAMEDA AND <br /> THE CITY OF PLEASANTON REGARDING TRANSFER OF PROPERTY TAX <br /> REVENUES IN CONNECTION WITH REORGANIZATION/ANNEXATION NO. <br /> 153 (BALCH) <br /> This Agreement is made pursuant to the provisions of Revenue and Taxation Code <br /> Section 99 and shall constitute the agreement for exchange of property tax revenues <br /> required by the Revenue and Taxation Code Section 99(b)(6). Furthermore, Revenue and <br /> Taxation Code Section 99(b)(5)provides that if a jurisdictional change will alter the <br /> service area or service responsibility of a special district, the Board of Supervisors of the <br /> county in which the special district is located shall negotiate any exchange of property tax <br /> revenues on behalf of the special district. <br /> The parties agree that for annexation of this parcel located at 6010 Alisal Street at the east <br /> end of Sycamore Road, as shown on Exhibit A, page 3, listing all applicable parcel <br /> numbers, to this agreement and incorporated herein, the Auditor-Controller of the County <br /> of Alameda is directed to cause an exchange of property tax revenue as follows: <br /> A. The City is entitled to receive an allocation of computed propert y tax revenue <br /> equivalent to the share of property tax revenue it receives on a weighted <br /> average citywide. The weighted citywide average shall be computed annually <br /> as follows: multiply the City's current AB8 factor in each tax rate area within <br /> the city by the current secured assessed valuation in each tax rate area to <br /> arrive at a product for each tax rate area. The sum of those products is divided <br /> by the total secured assessed valuation within the city to arrive at a weighted <br /> citywide average. The secured tax roll is used here to establish the weighted <br /> citywide average. However, the factors resulting from application of the <br /> formula will apply to all tax rolls. <br /> B. In the event that the City currently provides a service within its incorporated <br /> city limits such as Fire or Library, and if that service is currently being <br /> provided by a County taxing agency or special district in the territory <br /> proposed for annexation, the County shall receive an allocation of computed <br /> property tax revenue equivalent to the share of property tax revenue received <br /> by the county taxing agency or special district in the territory proposed for <br /> annexation. The County's receipt of that allocation shall not diminish the <br /> City's receipt of its allocation calculated under A above. <br /> C. In the event that the City assumes full responsibility for a service not currently <br /> being provided by the city within its incorporated city limits, but being <br /> provided by a separate County taxing agency or special district within the <br /> territory proposed for annexation, pursuant to Revenue and Taxation Code <br /> 99(b), the City shall receive, in addition to the allocation determined in A <br /> above, an allocation of computed property tax revenue equivalent to the share <br /> Page 1 <br />