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<br />05/12/2008 <br /> <br />ORIGINAL <br /> <br />RESOLUTION NO. 14861 <br /> <br />RESOLUTION MAKING DETERMINATION OF PROPERTY <br />TAX EXCHANGE PURSUANT TO THE PROVISIONS OF <br />CHAPTER 282, SECTION 59, PART 0.5, IMPLEMENTATION <br />OF ARTICLE XIIIA OF THE CALIFORNIA CONSTITUTION, <br />COMMENCING WITH SECTION 95, DIVISION 1, OF THE <br />REVENUE AND TAXATION CODE <br /> <br />WHEREAS, state law requires that the County of San Mateo and the City <br /> <br />of Redwood City agree to a property tax exchange as a result of the proposed <br /> <br />annexation of the parcels on Alameda De Las Pulgas to the City of Redwood <br /> <br />City; and <br /> <br />WHEREAS, the County and City have agreed on certain other matters <br /> <br />relating to the proposed annexation; and <br /> <br />WHEREAS, the subject determination has been made prior to and as a <br /> <br />condition precedent to the Executive Officer of the Local Agency Formation <br /> <br />Commission issuing the Certificate of Filing on said proposal; and <br /> <br />WHEREAS, the City of Redwood City in making this determination has <br /> <br />reviewed the proposed property tax exchange and the amount of said exchange; <br /> <br />and <br /> <br />WHEREAS, it has been agreed that property tax revenue produced by an <br /> <br />incremental factor of .0723374599 for the affected properties will be transferred <br /> <br />between the County Fire Protection District (Tax Code Area 73-019) and the City <br /> <br />of Redwood City; and <br /> <br />ATTY/RESO/RESO.1813 <br />043008 <br /> <br />14861 <br />Muff #505 <br />