HomeMy WebLinkAboutReso. 1981 - 002 - Agreeing to exchange of property tax revenues for unihabited annexation no. 81-1 •
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. . RESOLUTION NO. - -
• - A RESOLUTIONOFTHE CITY COUNCIL OF THE CITY OF REDDING
- i .AGREEINGTTO- EXCHANGE OF. PROPERTY 'TAX:.REVENUES' FOR
UNINHABITED ANNEXATION NO. 81-1 TO THE. CITY OF REDDING.
(ARIZONA STREET)
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WHEREAS, subparagraph (b) of Section 99 of the Revenue
and Taxation Code requires the Board of Supervisors and the City
Council to agree ,to ,theexchange of property tax revenues with
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respect to property: ahneXed to the City after July 24 , 1979 , and
WHEREAS, the City of Redding proposes to annex to the
City of Redding certain territory commonly known as Annexation
No. 81-1 (Arizona Street) , and
WHEREAS, said annexation is ofterritory properly
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characterized as uninhabited lands
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NOW, THEREFORE, BE ITRESOLVED that':'the Boaiod of Super-
visors and the City Council agree' thatfOr Annexation No 81-1
to the City of Redding, uninhabited land, the property tax, both
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secured' and .unSecured, shall be diStributed'as-folloWs':
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(l) Base. year tax - the base year tax as defined in
• Revenue and Taxation Code Section 98 (fshall continue to
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be distributed in the same manner as in the fiscal year
previous to annexation.
(2) Annual tax increment - that portion: of the tax
as definedin .Revenue and Taxation: COd& Sq-Ction 97 (b)
resulting from. increases in assessed valuation over the
• base year valuations shall be distributed to the City of
Redding in an. amount Sufficient to insure ;thatthe annexed
property earns the same percentage bf total taX- as was
earned by other property in the City prior to January 1,
1979.
. BE IT FURTHER RESOLVED that this annexation, to be
recorded by the end': Of the calendar year (December 31) , shall be
. entitled to distribution of property taxes fi-omand after the
first day of the next succeeding fiscal year (July 1) . t°0
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BE IT FURTHER..RESOLVED that the County. Auditor shall
be notified of this Resolution pursuant to subparagraph (b) of.
• Section 99 of the above'"referenced^;.Code. , .r •:t -,. _
I'. HEREBY CERTIFY that the foregoing Resolution was
introduced and read ,at a regular: meeting. of the City Council
of. the City of Redding on the 5th .' day of January . 1981 , and .
was :duly adopted at said m'e'eting ,by.`the following vote: •
AYES. COUNCILMEN: ,Demsher, Fulton, Gard, Kirkpatrick, and:..Pugh •
NOES.: COUNCILMEN: None.
ABSENT:: COUNCILMEN: None -r
ATT ST: / j_
• . 'CH' • = o ' c .
,-- �/' /l May%a'lo the City df Redding
iM L RED L BRAYTO' ,1, ty:.'Clerk
- FORM APPROVED:
i;-e-:-6.-P?'e ;4g .,2 _ • -
• -RA DALL A. HAYS, Ci Attorney
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