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<br />~:djg-c 3/26/82 <br /> <br />ORIGINAL <br /> <br />APR 5 1982 <br /> <br />RESOLUTION <br /> <br />N o. 9 0 8 :.j <br /> <br />RESOLUTION APPROVING NEGOI'IATED EXaIANGE OF PROPERrY <br />TAX REVENUES AND AGREEING TO ACCEPI' SUCH EXCHANGE UPON <br />JURISDICI'IONAL CHANGE OF CERI'AIN PROPERrIES PROPOSED <br />FOR ANNEXATION FRa1 THE UNINCORPORATED AREA OF THE <br />COUNTY OF SAN MATEO TO THE CITY OF RErMOOD CITY (NAKANO) <br /> <br />WHEREAS, pursuant to the provisions of Chapter 6 (ccmrencing <br /> <br />with Section 95) of the Revenue and Taxation Code, the City of <br /> <br />Redwood City and the County of San Mateo, the San Mateo County <br /> <br />Library, and Structural Fire Fund must agree to an exchange of <br /> <br />property tax revenues prior to the date of a proposed rmmicipal <br /> <br />reorganization consisting of the annexation from the uncorporated <br /> <br />area of the County of San Mateo to the City of Redwood City of a <br /> <br />parcels of land in the Horgan Ranch area (Nakano), and designated <br /> <br />as Assessor's Parcel No. 59-240-53; and <br /> <br />WHEREAS, this Council has determined the exchange of property <br /> <br />tax revenues, based upon 1980-81 assessed valuation, which result <br /> <br />from the jurisdictional change effected by the proposed rmmicipal <br /> <br />reorganization, and agrees to the exchange of revenues with the <br /> <br />County of San Mateo, the San Mateo County Library, and the <br /> <br />Structural Fire Fund; <br /> <br />NCW, THEREFORE; <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDVK:lOD CITY, <br /> <br />AS FOLI.a\TS: <br /> <br />1. This Council hereby determines, with respect to the subject <br /> <br />reorganization, the property tax revenues based upon the 1980-81 <br /> <br />assessed valuation for the affected property will be transferred in <br /> <br />total to the City of Redwood City as follavs: <br /> <br />9083 <br />