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between the Free Library (Tax Code Area 73041) and the City of Redwood City; <br />and <br /> <br /> WHEREAS, it has been agreed that property tax revenue produced by an <br />incremental factor .0967103906 for the affected properties will be transferred <br />between the County of San Mateo (Tax Code Area 73041) and the City of <br />Redwood City; <br /> <br /> NOW, THEREFORE; <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD <br />CITY, AS FOLLOWS: <br /> <br /> 1. The property tax incremental factor to be transferred from the <br />County Fire Protection District (Tax Code 73041) to the City of Redwood City is <br />.073672198. <br /> <br /> 2. The property tax incremental factor to be transferred from the Free <br />Library (Tax Code 73041) to the City of Redwood City is .0396223896. <br /> <br /> 3. The property tax incremental factor to be transferred from the <br /> <br />County of San Mateo (Tax Code 73041) to the City of Redwood City is <br />.0967103906. <br /> <br /> In accordance with Section 3a of Article XIIIB of the State Constitution, the <br />appropriation limit of the City of Redwood City shall be increased by amounts <br />indicated above, and the appropriation limits of the transfer or entities described <br />above shall be decreased by the same amount. The exchange of said revenues <br />is approved conditioned upon the completion of the proposed annexation of the <br /> <br />Reso-589 <br />DES:djk <br />F\S h a red/Redwood/Council <br />03/08/99 13580 <br /> <br /> <br />