HomeMy WebLinkAbout1419 RESOLUTION NO. 1419
RESOLUTION OF AGREEMENT BY THE CITY OF THE TOWN OF LOS
ALTOS HILLS PURSUANT TO REVENUE AND TAXATION CODE SECTION
99 .1 FOR EXCHANGE OF PROPERTY TAX REVENUES FOR TERRITORIES
AFFECTED BY A JURISDICTIONAL CHANGE RESULTING IN A SPECIAL
DISTRICT PROVIDING SERVICE WHERE SUCH SERVICE HAS NOT BEEN
PREVIOUSLY PROVIDED BY ANY LOCAL AGENCY
RESOLVED, by the City Council of the City of the Town of Los
Altos Hills , County of Santa Clara, State of California, that
WHEREAS, Section 99 .1 of the Revenue and Taxation Code requires
that all affected local agencies participate in an exchange of property
tax revenues regarding territory affected by a jurisdictional change
which will result in a special district providing one or more services
to an area where such services have not been previously provided by
any local agency; and
WHEREAS , the cities, County and special districts wish to
facilitate orderly and expeditious jurisdictional changes; and
WHEREAS , the cities, County and special districts have reached
agreement pursuant to the above-referenced Code Section,
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY OF THE TOWN OF LOS
ALTOS HILLS agrees that, in such territory, the special district
extending service shall be included in the allocation of the annual
tax increment to local agencies; and that the non-school portion of
the annual tax increment shall be shared by all local agencies in the
tax rate area in proportion to their "equivalent tax rates" as derived
from the provisions of AB8 .
BE IT FURTHER RESOLVED that this distribution formula shall be
applied to all pending and future jurisdictional changes which will
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result in a special district providing service where such service
had not been previously provided by any local agency.
BE IT FURTHER RESOLVED that the County Auditor and the Executive
Officer of the Local Agency Formation Commission shall be notified
of this Resolution pursuant to Subparagraph (b) of Section 99 of
the above-referenced Code.
REGULARLY passed and adopted this 20th day of January , 1982 .
By ' -%:&"
ayor
ATTEST:
City Clerk
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