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<br />DES: dft <br /> <br />5/13/93 (011/33) <br /> <br />1. <br /> <br />This Council hereby determines and agrees, with respect <br /> <br />to the subject reorganization, that property tax revenues for the <br /> <br />affected property shall be transferred in accordance with the <br /> <br />following schedule: <br /> <br />Property Tax Transfer <br /> <br />Tax Incremental Factor <br /> <br />( a) <br /> <br />From the City of Redwood City <br />(Tax Code Area 09031) to the <br />City of the Town of Woodside <br /> <br />0.0499165988 <br /> <br />(b) <br /> <br />From the City of Redwood City <br />(Tax Code Area 09031) to the <br />Woodside Fire Protection District <br /> <br />0.1675512966 <br /> <br />(c) <br /> <br />From the City of Redwood City <br />(Tax Code Area 09031) to the <br />County Library <br /> <br />0.0412881678 <br /> <br />2. <br /> <br />Pursuant to the provisions of Section 3(a) <br /> <br />of Article <br /> <br />XIIIB <br /> <br />of <br /> <br />the <br /> <br />Constitution <br /> <br />of <br /> <br />the <br /> <br />State <br /> <br />of <br /> <br />California, <br /> <br />the <br /> <br />appropriation <br /> <br />limit <br /> <br />for <br /> <br />the <br /> <br />City <br /> <br />of <br /> <br />Redwood <br /> <br />City <br /> <br />shall <br /> <br />be <br /> <br />decreased corresponding to the above-specified factors and the <br /> <br />appropriation limits of the City of the Town of Woodside, <br /> <br />the <br /> <br />Woodside Fire Protection District and the County Library shall be <br /> <br />increased by the corresponding factors. <br /> <br />3. <br /> <br />The City Clerk is hereby authorized and directed to <br /> <br />transmit copies of this resolution to the San Mateo County Local <br /> <br />Agency Formation Commission, the County of San Mateo for and on <br /> <br />behalf of the County Library and to the Woodside Fire Protection <br /> <br />District. <br /> <br />4. <br /> <br />This resolution shall be effective upon its adoption <br /> <br />and <br /> <br />operative <br /> <br />upon <br /> <br />the <br /> <br />effective <br /> <br />date <br /> <br />of <br /> <br />the <br /> <br />subject <br /> <br />reorganization. <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />2 <br /> <br />11983 <br />