HomeMy WebLinkAboutReso. 1981 - 261 - Agreeing to exchange of property tax revenues for uninhabited Annex no. 81-11r
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RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
AGREEING TO EXCHANGE OF PROPERTY TAX REVENUES FOR
UNINHABITED ANNEXATION NO. 81-11 TO THE CITY OF REDDING..
(LAKE BOULEVARD EAST).
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. 81-11, 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. 81-11
to the City of Redding, uninhabited land, the property tax, both' "
secured and unsecured, shallb'e 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 as valuation over the
base year valuations shall be,dis'tributedIto the C'i'ty of
Redding in an amount sufficiet 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
00
first day of the next succeeding fiscal year (July 1):
n
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 2nd day of November 1981, and
was duly adopted at said meeting by the following vote:
AYES: COUNCILMEN: Demsher, Fulton, Gard, Kirkpatrick, and Pugh
NOES: COUNCILMEN: None " j?
ABSENT: COUNCILMEN: None
ATTEST: a
�' p PUGH.'
4 yor of the City of Redding
ETHEL A. RICHTER, City Clerk.
FORM APPROVED: „
RAN ALL A. HAYS, Cit Attorney
• Rescinded by R-82-22