HomeMy WebLinkAboutReso. 1980 - 085 - Agreeing to exchange of property tax revenues for Annexations 80-1 and 80-2 J ' •
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'.B SQLUTTON NO': QQ-g '
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
• AGREEING TO EXCHANGE OF PROPERTY TAX REVENUES FOR ANNEXA-
TIONS 80-1 AND 80-2 TO THE CITY OF REDDING.
WHEREAS, subparagraph (b) of Section 99 of the Revenue
and Taxation Code requires the Board of Supervisors and the City
Council to agree to the exchange of property tax .revenues with
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respect to property annexed to the City after July 24 , 1979 , and
WHEREAS, the City of Redding proposes to annex to the.
City of Redding territory commonly known as Annexations No. 80-1
and No. 80-2 , consisting of approximately 177 acres and 376 acres ,
respectively, and •
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WHEREAS, said annexations are of territory. properly
characterized as uninhabited lands,
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NOW, THEREFORE, BE IT" RESOLVED that the Board of Super •
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visors and City Council agree that for Annexations ' 80-1 and 80-2
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to the City of Redding of uninhabited land, the property tax, both
secured and.unsecured, shall be distributed as follows :
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• (1) Base Year Tax The base year tax as ,defined in
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Revenue and Taxation Code Section 98 (f) shall continue to` be dis-
tributed in the same manner as in the fiscal year previous to
• annexation.
(2) Annual Tax Increment - That portion of the tax as
defined in Revenue and Taxation• Code Section 97 (b) resulting from
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increases in assessed valuation over the- base year valuations shall •
be distributed to the City of Redding in an amount sufficient to
insure that the annexed property earns the same percentage of total
tax as was earned by other property in the City -prior to January 1,
Lac
1979. : .
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• , BE .IT 'FURTHER •RESOLVED that annexations recorded by 'the •
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end of the calendar year (December 31) shall be entitled to to distri=.
bution of property, taxes from and after the first day: of the next
- • • succeeding fscal year (July 1) . •
BE IT FURTHER RESOLVED that the" County Auditor be notified
• of this Resolution. pursuant to subparagraph (b) of. Section- 99 of the •
above referenced Code.
I HEREBY CERTIFY that the foregoing Resolution •was,intro-
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duced and read at a regular meeting of the City Council of the City.
of Redding on the 21st day of April ' , 1980, 'and Was duly adopted at.
said meeting by the following vote:" s.
AYES: COUNCILMEN: Demsher, Fulton;• Gard, Kirkpatrick, and Pugh'
. NOES: COUNCILMEN,: None
ABSENT:: COUNCILMEN: None
HER F"/PUGH
Mayor of the City of Redding
ATTEST
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"MILDRED L. BRAYTO if City Clerk
89: G Z%�c-G/' ' ., , •Deputy
FORM APPROVED:
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AI /:
RANDALL A . H•YS, City torney
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