HomeMy WebLinkAboutReso 82-168 - Agreeing to Exchange of Property Tax Revenues for Uninhabited Annexation No. 82-15 to the City of Redding (Mistletoe Lane Area) I ' • •
RESOLUTION NO. 0,21/0$
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
AGREEING TO EXCHANGE OF PROPERTY TAX REVENUES FOR UNIN-
HABITED ANNEXATION NO. 82-15 TO THE CITY OF REDDING.
(MISTLETOE LANE 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. 82-
15 (Mistletoe Lane area) , and
WHEREAS, said annexation is of territory properly charac-
terized as uninhabited lands ,
NOW, THEREFORE, BE IT RESOLVED that the Board of Supervisors
and the City Council agree that for Annexation No . 82-15 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.
• r . _ 411 • .
(3) Any portion of the annual tax increment that
would have otherwise gone to any special district will
henceforth be distributed CO the City of Redding because
the City is assuming services formerly rendered by such
special district.
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 4th day of 'October 1982 , and .
was duly adopted at said meeting by the following vote:
AYES: COUNCILMEN : Demsher, Fulton , Kirkpatrick, Pugh and Gard
NOES : COUNCILMEN: None
ABSENT: COUNCILMEN: None
JIIAV111�� Q.{0,�
BARBA.HI�`7ILLEN GARD, Mayor
City of Redding
ATTEST:
ETHEL A. NICHOLS, City Clerk
FORM APPROVED:
32 /7
RAIMDALL A. HAYS , ity�A,
ttorney
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