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c..,-,"l:djg-c 2/2/82 9062 ORIGINAL MAR 1 1982 RES 0 L UTI 0 N N O. RESOLUTION APPROVING NEGOTIATED EXCHANGE OF PROPERTY TAX REVENUES AND AGREEING TO ACCEPT SUCH EXCHANGE UPON JURISDICTIONAL CHANGE OF CERTAIN PROPERTIES PROPOSED FOR ANNEXATION FROM THE UNINCORPORATED AREA OF THE COUNTY OF SAN I.lATEO TO THE CITY OF REDWOOD CITY; AND RESCINDING RESOLUTION 1'10.9021 WHEREAS, pursuant to the provisions of Chapter 6 (commencing with Section 95) of the Revenue and Taxation Code, the City of Redwood City and the County of San Hateo, the San Hateo County Library, the !1enlo Park Fire Protection District and the Emerald Lake Lighting District 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 two parcels of land designated as 1759 and 1765 Woodside Road, and more particularly described on the map labled "Exhibit A", attached hereto and incorporated herein by reference; and ~vHEREAS, this Council has determined the exchange of property tax revenues, based upon 1981-82 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 r-1ateo County Library, the Henlo Park Fire Protection District and the Emerald Lake Lighting District; NOW, THEREFORE; BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, AS FOLLmiJ"S; 1. This Council hereby determines, with respect to the subject reorganization, the property tax revenues based upon the 1981-82 assessed valuation for the affected property will be transferred in total to the City of Redwood City be as follows: a. From County of San Mateo to City of Redwood City. $90.30 9 062