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6.2.A. - Page 3 <br /> ATTAC H M E N T 1 <br /> RESOLUTION NO. <br /> RESOLUTION MAKING DETERMINATION OF PROPERTY <br /> TAX EXCHANGE PURSUANT TO THE PROVISIONS OF <br /> CHAPTER 6, ARTICLE 5, PAR 0.5, IMPLEMENTATION OF <br /> ARTICLE XIIIA OF THE CALIFORNIA CONSTITUTION, <br /> COMMENCING WITH SECTION 99, DIVISION 1, OF THE <br /> REVENUE AND TAXATION CODE <br /> WHEREAS, state law requires that the County of San Mateo and the City <br /> of Redwood City agree to a property tax exchange as a result of the proposed <br /> annexation of the parcels on Edgewood Road to the City of Redwood City; and <br /> WHEREAS, the County and City have agreed on certain other matters <br /> relating to the proposed annexation; and <br /> WHEREAS, the subject determination has been made prior to and as a <br /> condition precedent to the Executive Officer of the Local Agency Formation <br /> Commission issuing the Certificate of Filing on said proposal; and <br /> WHEREAS, the City of Redwood City in making this determination has <br /> reviewed the proposed property tax exchange and the amount of said exchange; <br /> and <br /> WHEREAS, it has been agreed that property tax revenue produced by an <br /> incremental factor of .0736672198 for the affected properties will be transferred <br /> between the County Fire Protection District (Tax Code Area 73-041) and the City <br /> of Redwood City; and <br /> WHEREAS, it has been agreed that property tax revenue produced by an <br /> incremental factor of .0396223896 for the affected properties will be transferred <br /> ATTY/RES0.2124/PROPERTY TAX EXCHANGE <br /> 042611 <br />