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05/06/02 <br />O R I G I N A L <br />CITY OF REDWOOD CITY <br />RESOLUTION NO. 14438 <br />SUPPORT FOR ASSEMBLY BILL 2100 <br />PROPERTY TAX REVENUE SHIFTS: LIMITATION <br />WHEREAS, City of Redwood City residents and businesses depend <br />heavily on the City of Redwood City for vital public services such as public safety, <br />cultural enhancement, and land use planning among others to maintain the <br />quality of life; and <br />WHEREAS, beginning in fiscal year 1992 -93, the State of California <br />began reducing the property tax allocation received by local governments, <br />including the City of Redwood City; and <br />WHEREAS, as a result of this property tax allocation reduction, the City of <br />Redwood City will loose over $4 million in property taxes in fiscal year 2001 -02 <br />alone; and <br />WHEREAS, the foregoing reduction in property taxes limits the ability of <br />the City of Redwood City to provide vital services to residents and businesses; <br />and <br />WHEREAS, AB 2100 will begin to restore these critically needed revenues <br />to local governments throughout the State of California, including the City of <br />Redwood City. <br />NOW, THEREFORE, BE IT RESOLVED that the City Council of the City <br />of Redwood City supports AB 2100 and urges prompt and favorable action on it <br />by the Legislature and Governor. <br />F:Atty /Reso /Reso.1300 <br />042502 <br />