HomeMy WebLinkAboutReso. 1981 - 199 - Agreeing to exchange of property tax revenues for uninhabited Annex no. 81-9RESOLUTION -.N6,.
A- RESOLUTION - OF • THE• CITY COUNC:IL. OF. THE; CITY OF REDOING
AGREEING ,T,O EXCHANGE `OF' PROPERTY TAX REVENUES --FOR
UNINHABITED, -ANNEXATION NO. '81-9'TO THE-CITY•OF REDDING'.
(OASIS'ROAD'AREA) t
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 bf' property --`•tax revenues, -with
-. resp"e°ct to.property annexed to the City after.:July. 24, 1.979, .and
WHEREAS.,. the City of Redding proposes to annex to ;'the '
.
City of Redding certain territory commonly known as Annexation
No. 8.1-•9 (Oasis 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 .Ci.ty-- Counci•1 agree that ,for Annexation No..` -81-9
to the City' o.f Redding, uninhabited Tand, the property tax, both
•, secured'. and *unsecured.', . 'shall; be . di°stributed -.as follows:-
ollows:-:',(1)''
(1)''Base year tax = the ,base .year tax as. defined .=in
'.Revenue : and .: Taxation Code Section -98 (•f.) s -hall .continue to -
be' -dis.trbuted in` the same manner. as.in the fiscal year
previous:to:annexation.' -
(2) ' .Annual' tax.- increment--.that•'port.ion.'of -the. tax"
as � defined 'in Revenue` =and 'TaXat on Code Section '9'7 (b)
resulting - from increases in -assessed valuat on'over,the.
-'base year valuations. s.hall-- be di'stributed to the:.City: ,of•'..: i
k<•Redding:
'in 'an.. amount sufficient to- insure` that the; annexed_ .
;:property earri's the: same.- percentage' of total tax ''as -- was ' '
' "earned _by other property in " the'" City . prior.• to :-January 1;
197.9
N
• _ ,` .. ..
is
BE.IT FURTHER RESOLVED that this.annexa'tion,,to be
recorded `by the end ;of.: _ the. calendar ` year : •( December .:.31) , ,-shall bei
i
' . entitled to distr.ibutio'n of property taxes from •and after, the,
--
first day of the next succeeding fiscal year (July 11
-
_1_
Qr,