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<br />ORIGINAL <br /> <br />AGREEMENT FOR COMPENSATION <br />TO COUNTY OF SAN MATEO FOR COLLECTION <br />OF SPECIAL TAXES <br /> <br />THIS AGREEMENT, is entered into this 9th day of June, 2010, by and between the <br />COUNTY OF SAN MATEO, hereinafter called "County," and CITY OF REDWOOD CITY; <br /> <br />W !IN g~~gIH: <br /> <br />WHEREAS, as a service to cities, school districts, special districts, and other taxing <br />entities (the "Taxing Entities"), the County collects certain special taxes through the <br />countywide property tax bill and, in exchange for collecting such special taxes, the County is <br />compens~ted pursuant to agreements with each of the affected Taxing Entities; and <br /> <br />WHEREAS, a compensation agreement was initially executed by and between the <br />County and CITY OF REDWOOD CITY in or about the Fiscal Year 1980-81 (the "Initial <br />Agreement") and the compensation rates therein were not revisited until the Fiscal Year <br />2003-04 when the initial agreement was amended (the "2003 Amended Agreement"); and <br /> <br />WHEREAS, in June 2009, the County and CITY OF REDWOOD CITY entered into a <br />new agreement (the "2009 Agreement") in order to further update the County's compensation <br />rates and which' expressly stated that "the parties anticipate entering into an amendment of the <br />Agreement prior to the Fiscal Year 2010-11 in order to include provisions to automatically <br />adjust the compensation schedule set forth in Section 4 each year," and; <br /> <br />WHEREAS, on or about March 24, 2010, the County notified the CITY OF <br />REDWOOD CITY of its desire to modify the 2009 Agreement. <br /> <br />NOW, THEREFORE, IT IS HEREBY AGREED BY THE PARTIES HERETO <br />AS FOLLOWS: <br /> <br />1. Term~ Renewal~ and Termination <br />This Agreement shall be in full force and effect for the billing and collection of special taxes by <br />the County for and on behalf of CITY OF REDWOOD CITY for a period of one (1) year <br />commencing July 1,2010, for the FY 2010-11. <br /> <br />This Agreement shall automatically renew containing the same terms and conditions for Fiscal <br />Year 2011-12 and each subsequent fiscal year thereafter unless either party notifies the other <br />party in writing at least ninety (90) days prior to the close of the fiscal year of its intention not <br />to renew. <br /> <br />- I - <br />