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<br />DAL:djk lO/28/91 <br /> <br />(107/28) <br /> <br />0 RIG I N A L <br /> <br />11/4/91 <br /> <br />RES 0 L UTI 0 N <br /> <br />NO. 11631 <br /> <br />---------- <br /> <br />RESOLUTION APPROVING PROPERTY TAX EXCHANGE <br />DETERMINATION WITH THE COUNTY OF SAN MATEO REGARDING <br />THE PROPOSED ANNEXATION OF THE HUNG PROPERTY TO THE <br />CITY OF REDWOOD CITY <br /> <br />WHEREAS, state law requires that the County of San Mateo and <br /> <br />the City of Redwood City agree to a property tax exchange as a <br />resul t of the proposed annexation of the Hung property to the <br /> <br />City of Redwood City; and <br /> <br />WHEREAS, <br /> <br />the subject determination has been made prior to <br /> <br />and as a condition precedent to the Executive Officer of the <br /> <br />Local <br /> <br />Agency <br /> <br />Formation <br /> <br />Commission <br /> <br />("LAFCO" ) <br /> <br />issuing <br /> <br />the <br /> <br />Certificate of Filing on said proposal; and <br /> <br />WHEREAS, <br /> <br />the <br /> <br />City <br /> <br />of <br /> <br />Redwood <br /> <br />City <br /> <br />in <br /> <br />making <br /> <br />this <br /> <br />determination has reviewed the proposed property tax exchange and <br /> <br />the amount of said exchange; and <br /> <br />WHEREAS, <br /> <br />it <br /> <br />has <br /> <br />been <br /> <br />agreed <br /> <br />that <br /> <br />property <br /> <br />tax <br /> <br />revenue <br /> <br />produced by an incremental factor of .0723374599 for the affected <br /> <br />properties will be transferred between the County Fire Protection <br /> <br />District (Tax Code Area 730l9) and the City of Redwood City; and <br /> <br />WHEREAS, <br /> <br />it <br /> <br />has <br /> <br />been <br /> <br />agreed <br /> <br />that <br /> <br />property <br /> <br />tax <br /> <br />revenue <br /> <br />produced by and incremental factor .0389072175 for the affected <br /> <br />properties will be transferred between the County Library <br /> <br />(Tax <br /> <br />Code Area 730l9) and the City of Redwood City; and <br /> <br />WHEREAS, <br /> <br />it <br /> <br />has <br /> <br />been <br /> <br />agreed <br /> <br />that <br /> <br />property <br /> <br />tax <br /> <br />revenue <br /> <br />produced by an incremental factor of .0887553226 for the affected <br /> <br />properties will be transferred between the County of San Mateo <br /> <br />(Tax Code Area 73019) and the City of Redwood City; <br /> <br />0-._--- ....-....--....--..-. -- <br />