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DES:dft 5/13/93 (011/33) 0 RIG I N A L S/1l/93 RES 0 L UTI 0 N N O. ---------- 11983 RESOLUTION APPROVING NEGOTIATED EXCHANGE OF PROPERTY TAX REVENUES AND AGREEING TO ACCEPT SUCH EXCHANGE UPON JURISDICTIONAL CHANGE RESULTING FROM PROPOSED REORGANIZATION CONSISTING OF DETACHMENT OF CERTAIN PROPERTY FROM THE CITY OF REDWOOD CITY AND ANNEXATION THEREOF TO THE CITY OF THE TOWN OF WOODSIDE (LANDS OF KORMAN) WHEREAS, pursuant to the provisions of Chapter 6 (commencing with §95) of the Revenue and Taxation Code, the City of Redwood City, the County Free Library System, the Woodside Fire Protection District and the City of the Town of Woodside must agree to an exchange of property tax revenues prior to the date of a proposed municipal reorganization consisting of the de-annexation from the City of Redwood City of a parcel of land known as the "Lands of Korman" (as designated and described in the Application for Reorganization on file with the San Mateo County Local Agency Formation Commission, to which application reference is hereby made for the full particulars thereof) from the City of Redwood City to the City of the Town of Woodside; and WHEREAS, this Council has determined and agreed that the exchange of property tax revenues resulting from the proposed reorganization shall be made in accordance with the property tax incremental factors for the corresponding jurisdictions hereinafter specified; NOW, THEREFORE; BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, AS FOLLOWS: ","""""""""-"""""""""""""""""""" ---...----..-."......... .