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RESOLUTION NO. 1419 <br /> RESOLUTION OF AGREEMENT BY THE CITY OF THE TOWN OF LOS <br /> ALTOS HILLS PURSUANT TO REVENUE AND TAXATION CODE SECTION <br /> 99 .1 FOR EXCHANGE OF PROPERTY TAX REVENUES FOR TERRITORIES <br /> AFFECTED BY A JURISDICTIONAL CHANGE RESULTING IN A SPECIAL <br /> DISTRICT PROVIDING SERVICE WHERE SUCH SERVICE HAS NOT BEEN <br /> PREVIOUSLY PROVIDED BY ANY LOCAL AGENCY <br /> RESOLVED, by the City Council of the City of the Town of Los <br /> Altos Hills , County of Santa Clara, State of California, that <br /> WHEREAS, Section 99 .1 of the Revenue and Taxation Code requires <br /> that all affected local agencies participate in an exchange of property <br /> tax revenues regarding territory affected by a jurisdictional change <br /> which will result in a special district providing one or more services <br /> to an area where such services have not been previously provided by <br /> any local agency; and <br /> WHEREAS , the cities, County and special districts wish to <br /> facilitate orderly and expeditious jurisdictional changes; and <br /> WHEREAS , the cities, County and special districts have reached <br /> agreement pursuant to the above-referenced Code Section, <br /> NOW, THEREFORE, BE IT RESOLVED THAT THE CITY OF THE TOWN OF LOS <br /> ALTOS HILLS agrees that, in such territory, the special district <br /> extending service shall be included in the allocation of the annual <br /> tax increment to local agencies; and that the non-school portion of <br /> the annual tax increment shall be shared by all local agencies in the <br /> tax rate area in proportion to their "equivalent tax rates" as derived <br /> from the provisions of AB8 . <br /> BE IT FURTHER RESOLVED that this distribution formula shall be <br /> applied to all pending and future jurisdictional changes which will <br />