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<br />SWC:djk 8/06/87 <br /> <br />(#21) <br /> <br />1. This Council hereby determines, with respect to the <br /> <br />subject reorganization, the property tax revenues based upon <br /> <br />the1986-87 assessed valuation for the affected property will be <br /> <br />transferred in total to the City of Redwood City as follows: <br /> <br />a. From County of San Mateo to City of <br /> <br />Redwood City.......................... $ 4 81 . 29 <br /> <br />b. From County Library Fund to City of <br />Redwood C i t y. . . . . . . . . . . . . . . . . . . . . . . . . . $ 265 . 56 <br /> <br />c. From San Mateo County Fire Protection <br />Fund to City of Redwood City.......... $493.74 <br /> <br />2. In accordance with Section 3(a) of Article XIIIB of the <br /> <br />Constitution of the State of California, the appropriation limit of <br /> <br />the City of Redwood City shall be increased by the amounts listed <br /> <br />above, and the appropriation limits of the transferor entities <br /> <br />described above shall be decreased by the same amount. <br /> <br />3. The City Clerk is hereby authorized and directed to <br /> <br />transmi t copies of this resolution to the San Mateo County Local <br /> <br />Agency Formation Commission, and to the County of San Mateo, for <br /> <br />itself, the County Library Fund, and the County Fire Protection <br /> <br />Fund. <br /> <br />4. This resolution shall be effective upon its adoption and <br /> <br />operative upon the effective date of the subject reorganization. <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />2 <br />