HomeMy WebLinkAboutReso 82-40 - Agreeing to exchange of prperty tax revenues for uninhabited Annexation No. 82-5 to the City of Redding � , � � ��
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' RESOLUTION NO. �,2 ' yv
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDII�G
AGREEING TO EXCHANGE OF PROPERTY TAX� REVENUES FOR
UNINHABITED ANNEXATION NO. 82-5 TO THE CITY OF REDDING.
(GOODWATER�AVENUE 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
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VlHEREAS, the City' of �Redding proposes to annex to the
City of Redding certain territory commonl}+ known as Annexation
ido. 82-5 (Goodwater Avenue 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 tio. 82-5
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
be distributed 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 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 immediately prior to
annexation. .
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` (3) Any portion of the annual tax increment that
would have otherwise gone to Shasta County Fire Protection
District No. 1 will henceforth be distributed to the City
of Redding because the City is assuming the services �
formerly rendered by that entity. '
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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
first day of the next succeeding fiscal year (July 1) .
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 intro-
duced and read at a regular .meeting of the City Council of the
City of Redding on the 5th day of April , 1982 , and was duly
adopted at said meeting by the following vote:
AYEs: Co�N¢zi,rlErr: Demsher, Fulton, Gard, Kirkpatrick, and Pugh
NOEs: COUNCILr1Ex: None
ABSENT: COUNCILMEN: None /
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ATTEST= ;
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�' ETHEL'�A. RICHTER, City Clerk
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_ FORNS' APPROVED: � -
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, RA DALL" A�. HAYS, C y Attorney �_� �Z-��d
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