HomeMy WebLinkAboutReso. 1981 - 055 - Agreeing to exchange of property tax revenues for uninhabited Annex no. 81-5 to the City of Redding (Quartz Hill Road area)0 0
RESOLUTION NO. -Sj
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
AGREEING TO EXCHANGE OF PROPERTY TAX REVENUES FOR
UNINHABITED ANNEXATION NO. 81-5 TO THE CITY OF REDDING.
(QUARTZ BILL ROAD AREA).
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, and
WHEREAS, the City of Redding proposes to annex to the
City of Redding certain territory commonly known as Annexation
No. 81-5 (Quartz Bill Road area), and
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. 81-5
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 z
be distributed in the same manner as in the fiscal year
previous to annexation.
a
(2) Annual tax increment - that portion of the tax a
as defined in Revenue and Taxation Code Section 97(b) 0,
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 N
property earns the same percentage of total tax as was N
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
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first day of the next succeeding fiscal year (July 1). C7�
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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.
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 6th day of April • 1981, and
was duly adopted at said meeting by the following vote:
AYES: COUNCILMEN: Demsher, Fulton, Kirkpatrick, and'Pugh
NOES: COUNCILMEN: None
ABSENT: COUNCILMEN: Gard
AT EST:
ARCHER F. PUG
4Mayor of hceCity of Redding
I DRED L. SRAYTON Ci y Clerk
FORM APPROVED:
!ZTAN T
LL A. HAYS, C y Attorney
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