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ATTACHMENT 3 RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON, AGREEING TO THE EXCHANGE OF PROPERTY TAX REVENUE FOR ANNEXATION NO. 152 (MARTIN AVENUE BUFFER ZONE) 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 the Martin Avenue buffer zone property, namely that the City receive the same share of the 1 % property tax rate from the Martin Avenue buffer zone property that it receives on a weighted average citywide. NOW, THEREFORE BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF PLEASANTON DOES RESOLVE, DECLARE, DETERMINE AND ORDER THE FOLLOWING: SECTION 7. The Mayor 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 Martin Avenue buffer zone property located in unincorporated Alameda County will be effective as to each property annexed within the annexation area 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. City Clerk shall certify to the passage of this resolution and enter it into the book of original resolutions. PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at a regular meeting held on August 19, 2008. I, Karen Diaz, City Clerk of the City of Pleasanton, California, certify that the foregoing resolution was adopted by the City Council at a regular meeting held on the 19th day of August, 2008, by the following vote: Ayes: Noes: Absent: Abstain: