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<br />f ;djg-c 3/26/82 <br /> <br />RESOLUTION <br /> <br />N o. 9 0 8 4 <br /> <br />ORIGINAL <br />APR 5 1982 <br /> <br />RESOLUTION APPROVING NEGOTIATED EXCHANGE OF PROPERrY <br />TAX RE.VENUES AND AGREEING 'ill ACCEPI' SUCH EXCHANGE UPON <br />JURISDIcrIONAL CHANGE OF CERl'AIN PROPERTIES PROPOSED <br />FOR ANNEXATION FRavl THE UNINCORPORATED AREA OF THE <br />COUNTY OF SAN MATEO 'ID THE CITY OF REJ::WX)D CITY <br />(D.K. DEVELOPMENT) <br /> <br />WHEREAS, pursuant to the provisions of Chapter 6 (crnrrencing <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 municipal <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 three <br /> <br />parcels of land in the Horgan Ranch area (D.K. Developmmt), and <br /> <br />designated as Assessor's Parcel Nos. 59-240-55; 59-240-75 and <br /> <br />59-240-76; 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 municipal <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 REJ::WX)D CITY, <br /> <br />AS FOI.J..ClVS: <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 follows: <br /> <br />9084 <br />