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Home My WebLink AboutReso. 1980 - 169 - Agreeing to exchange of property tax revenues for Annex no. 80-4 RESOLUTION NO. ' :A RESOLUTION-OF THE CITY' COUNCIL OF THE . CITY OF REDDING ' . AGREEING TO •EXCHANGE .OF ,PROPERTY TAX REVENUES: FOR A UNINHABITEDANNEXATION NO.' 8.0-4 TO THE."CITY. OF REDDTNG. (ARCO`: PETROLEUM PROPERTY ON CHURN CREEK ROAD) . • 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 respect to -property.,annexed to the City after July 24 , .1979 , aril { ''; WHEREAS,- the City of Redding proposes to annex to the City :of :,Redding certain - territory commonly known as Annexation • No. 80 "4 .(Arco'-Petroleum property on: Churn Creek Road) , and • µ WHEREAS, . said annexation is of territory properly, • ' characterized as uninhabited lands, • , ;.NOW, THEREFORE•, • BE' IT RESOLVED "that the Board of Super- .'visors and the City Council; agree that for Annexation No: 80-4 . to 'the. City of Redding, uninhabited land, the property tax, both ' aecured and. unsecured, shall 'be distributed as follows : • ,(l).,. .. Base year tax - the base year tax as defined in Revenue. and Taxation 'Code Section 98 (f) shall. continue to -• - be distributed inthe same manner as in the -fiscal. -year previous; to annexation. • • " (2) Annual:.,tax increment th at portion of the tax as , de`fined', in 'Revenue' and Taxation Code. Section 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 that the .annexed • property '•earns ' the same..p:ercentage of total tax as was • • earned' by other property• in, the City prior to January 1, 19.79. . , - BE .IT FURTHER RESOLVED -that this annexation, .to be recorded :by the end' sof' the alen`dar•`year_• `(Decemb,er 31). , 'shall be P r F • entitled to•^distribution of property .taxes from, and, after. the ,. � ;:. , , .. ,' •' '� • , ' 1, } first 'day of the 'next..succeed ng fiscal" . . . . - . ..ts ,• ._, . • . .., • - • - • ..... ... • .• -. . III . .. . _ . , 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. . .. . • • . 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 21st day of July , 1980 , and . : . was duly adopted at said meeting by the following vote: „ • ' AYES:. COUNCILMEN: Demsher, Fulton, Gard, Kirkpatrick, and Pugh • ----------------- NOES: . 'COUNCILMEN: None ..ABSENT: COUNCILMEN: None' . ..,,,,,,------400 -......;;070; - • . _ • .- ., -,-.. AT3EST: • - - „ .-. • i ,,..,. ...,---7 •--7— ---11---;CHER , 7,•--'•-*UQH ( . ' . ./.../..e„,(2.4..c...../ ./(V...14._./c....,•./ Zi---7--\ Mayo, of the City of Redding ' • MitDRED L. BRAYTON, /Clty Clerk ' L) ' .. •• . .., . FOR74.4• 00.-°VED:,. • • . . ' • -,i - ,' / / ff /'Air ., .-"Ci!ALL A. HAYS:, City .. ttorney . - : . .. • • • , . . • . . • '.. .-,• • • . . . • . • . . . .. . . , . . . . . . . . . -.„,. . . • . . . . . , . ,. .. •,, _ . . • . . . ..., ,,.... . . . . ,.. .. .• • . . . . . . . . . . . . . . • . . • .. .. . . . . . . . • - • • .,. . - - - _ • . . . • , , .. . • • . , ,- • .. . . . • . . . . . . . . . . . . * . .. . _ --.. . • • .- . , . • . -: • . • • ., . . . . . ...., - . . . . • ....-- . - •• - .-. . - - - ' • . . - • . . . ..,,. .. . . . . . . • _ .....,...., . . . . ... _ .. .. - , . . . . . . . .. . . . .. • -.-.- - - _ ..!. . • • •• • , . . _ . • . . • , • . .,..,. . . . , . • . . • • . „ . . .. ... -, . . , . . . . •••• -• • . .. • . - .. • —2— • ' . . • , . • • • . . , . . • -. ,•. ..,- i . s..••• •••. ;-••• - •. ('; ‘_..- • i. ..j ,.... -..c...... - . .