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<br /> CITY COUNCIL OF THE CITY OF PLEASANTON <br /> ALAMEDA COUNTY, ALAMEDA <br /> RESOLUTION NO. 05- <br /> RESOLUTION AGREEING TO THE EXCHANGE OF <br /> PROPERTY TAX REVENUE FOR <br /> ANNEXATION/DET ACHMENT NO. 148 (VINEYARD <br /> A VENUE REALIGNMENT) <br />WHEREAS, 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 agree upon an exchange of property <br /> tax revenue between and among the affected agencies; and <br />WHEREAS, the City of Pleasant on 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 AnnexationlDetachment <br /> No. 148, namely that the City receive the same share of the 1% property tax rate <br /> from the AnnexationlDetachment No. 148 properties that it receives on a weighted <br /> average citywide; <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES <br />AS FOLLOWS: <br />Section I: The Mayor ofthe City of Pleasant on is hereby authorized to sign a Property Tax <br /> Sharing Agreement with the County of Alameda. <br />Section 2: The annexation by the City of Pleasanton of the Vineyard A venue Realignment <br /> located in unincorporated Alameda County, and the detachment from the City of <br /> Pleasanton of land currently located within the City of Pleasanton, will be <br /> effective as to each property annexed/detached within the annexation/detachment <br /> area for the fiscal year following the filing with the State Board of Equalization of <br /> the Certificate of Completion for such property, provided the filing occurs prior to <br /> December 31 ofthe preceding year. <br />Section 3: 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 agreed upon <br /> Property Tax Sharing Agreement between the County of Alameda and the City of <br /> Pleasanton. <br /> EXHIBIT l <br /> , <br />