HomeMy WebLinkAboutReso. 1980 - 173 - Agreeing to exchange of property tax revenues for Annex no. 80-7 t •
• RESOLUTION NO. 50--% �, .; .
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING. .
AGREEING TO. EXCHANGE OF PROPERTY TAX REVENUES FOR
, ,UNINHABITED ANNEXATION NO. 80-7 TO THE CITY OF. IREDDING.
' (PARLEY PROPERTY 'ON HIGHWAY 273) . . •
WHE'REAS, .. subparagraph (b) of Section 99 of the Revenue
and Taxation Code requires the 'Board of Supervisors and the City
Council to agree to. •the exchangelof.property tax revenues with • •
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 certain territory commonly known as Annexation
- No. 807T--(Farley property.' s onHighway"273) ;' and ' '
.. WHEREAS, said` annexation; is of ,territory' properly;
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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-'7 '
. ' to the City of Redding,. uninhabited land, the property tax.,_•both •
• secured .and unsecured, shall be distributed as follows:
(1) . Base " year tax - the base year tax as defined in
Revenue and Taxation- Code Section 98 (f) shall continue to .
' , be distributed in the same manner as in the fiscal year
.previousto `.annexation. .
•. (2) •Annua• l tax increment = that portion of the tax _
as defined' in .Revenue and Taxation Code Section197 (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 percentage of 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 from 'and-.after''.the' ix,i
first day of •the next' succeeding: fiscal year (July 1) .
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BE IT .FURTHER RESOLVED. ,that the County Audiitor• ' shall
be• notified, of this Resolution pursuant to subparagraph (b) of
Section •.99 of. the +'above referenced .Codes.
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' I HEREBY' CERTIFY that the foregoing. Resolution was' •
introduced and readat a regular meeting_of° the City Council •
of< the Cit of`Reddingon the' ' 21st dayof '
Y ' July , :1980, and
was dulyadopted at said meeting by the following_ vote:
AYES - COUNCILMEN: Demsfer, Fulton, Gard, Kirkpatrick, and Pugh
NOES COUNCILMEN None •
ABSENT: COUNCILMEN: -'None
' ARCHERiF 'l G'
f/1c1 l ;c / ' G�`�_ 2 r��/' i Mayor o the' City; of Redding •
'MILDRED' L BRAYTON,/C'lty; Clerk
FORM'AP'''OVED. "
`RAIN TALL A. HAYS,, Ci y A rtorney
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