SR 05:253 - Laserfiche WebLink

EXHIBIT D CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COLINTY, ALAMEDA RESOLUTION NO. 05- RESOLUTION AGREEING TO THE EXCHANGE OF PROPERTY TAX REVENUE FOR ANNEXATION NO, 148 (VINEYARD AVENUE REALIGNMENT) WHEREAS, Section 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 agree 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 Annexation No. 148, namely that the City receive the same share of the 1% property tax rate from the Annexation No. 148 property that it receives on a weighted average citywide; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: The Mayor of the City of Pleasanton is hereby authorized to sign the attached Property Tax Sharing Agreement. Section 2: The annexation by the City of Pleasanton of the Vineyard Avenue Realignment located in unincorporated Alameda County will be effective as to each property annexed within the annexation area for the fiscal year following the fling 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.