Laserfiche WebLink
20-2 <br /> <br /> RESOLUTION NO. <br /> <br /> DETERMINATION OF PROPERTY TAX EXCHANGE FOR <br /> A PROPOSED LAND REORGANIZATION BETWEEN THE <br /> CITY OF REDWOOD CITY AND THE COUNTY OF SAN <br /> MATEO PURSUANT TO THE PROVISIONS OF THE <br /> CALIFORNIA CONSTITUTION AND THE REVENUE AND <br /> TAXATION CODE <br /> <br /> WHEREAS, State law requires that the County of San Mateo ("County") and the <br /> City of Redwood City ("City") negotiate a property tax exchange in the event that the <br /> financial responsibility of providing services is transferred from one entity to another by <br /> annexation; and <br /> <br /> WHEREAS, a proposal currently exists to detach and annex the lands depicted <br /> in the attached Exhibit "A" (the "Lands of Farahyar and Mathews" or the "Properties"); <br /> and <br /> <br /> WHEREAS, the County and the City have agreed there is no net exchange of <br /> property tax because the Properties being detached and annexed are of similar <br /> assessed value; and <br /> <br /> WHEREAS, the subject determination has been made prior to and as a condition <br />precedent to the Executive Officer of the Local Agency Formation Commission issuing <br />the Certificate of Filing on said proposal; and <br /> <br /> WHEREAS, it has been agreed that no property tax revenue will be transferred <br />from the County to'the City. <br /> <br />F:atty/reso/Reso.1313 <br />061902 ] <br /> <br /> <br />