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f ;djg-c 3/26/82 RESOLUTION N o. 9 0 8 4 ORIGINAL APR 5 1982 RESOLUTION APPROVING NEGOTIATED EXCHANGE OF PROPERrY TAX RE.VENUES AND AGREEING 'ill ACCEPI' SUCH EXCHANGE UPON JURISDIcrIONAL CHANGE OF CERl'AIN PROPERTIES PROPOSED FOR ANNEXATION FRavl THE UNINCORPORATED AREA OF THE COUNTY OF SAN MATEO 'ID THE CITY OF REJ::WX)D CITY (D.K. DEVELOPMENT) WHEREAS, pursuant to the provisions of Chapter 6 (crnrrencing with Section 95) of the Revenue and Taxation Code, the City of Redwood City and the County of San Mateo, the San Mateo County Library, and Structural Fire Fund must agree to an exchange of property tax revenues prior to the date of a proposed municipal reorganization consisting of the annexation from the uncorporated area of the County of San Mateo to the City of Redwood City of three parcels of land in the Horgan Ranch area (D.K. Developmmt), and designated as Assessor's Parcel Nos. 59-240-55; 59-240-75 and 59-240-76; and WHEREAS, this Council has determined the exchange of property tax revenues, based upon 1980-81 assessed valuation, which result from the jurisdictional change effected by the proposed municipal reorganization, and agrees to the exchange of revenues with the County of San Mateo, the San Mateo County Library, and the Structural Fire Fund; NCW, THEREFORE; BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REJ::WX)D CITY, AS FOI.J..ClVS: 1. This Council hereby determines, with respect to the subject reorganization, the property tax revenues based upon the 1980-81 assessed valuation for the affected property will be transferred in total to the City of Redwood City as follows: 9084