1981-246-Agreement Pursuant To Revenue And Taxation Code Section 99.1 For Exchange Of Property Tax Revenues For Territories Affected By Jurisdictional Change Resulting In A Special District Providing ServiceRESOLUTION NO. 1981 -246
A RESOLUTION OF AGREEMENT 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 HAD
NOT BEEN PREVIOUSLY PROVIDED BY ANY LOCAL AGENCY.
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 cites, County, and special districts have reached agreement
pursuant to the above - referenced code section;
NOW, THEREFORE, BE IT RESOLVED THAT the TOWN OF LOS GATOS 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 incre-
ment 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 AB -8.
BE IT FURTHER RESOLVED that this distribution formula shall be applied to
all pending and future jurisdictional changes which will result
in a special district providing service where such service had not
been previously provided by any local agency; and
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.
PASSED AND ADOPTED BY THE TOWN COUNCIL OF THE TOWN OF LOS GATOS, CALIFORNIA,
at a regular meeting held this 21st day of December
1982, by the following vote:
AYES: COUNCIL MEMBERS Thomas J. Ferrito,
ivtarLyn J. Rasmussen, Brent N. Ventura
and Peter W. Siemens
NOES: COUNCIL MEMBERS None
ABSENT: COUNCIL MEMBERS Ruth Cannon
ABSTAIN: COUNCIL MEMBERS None
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SIGNED:
j, OR 0 TH`E TOWN OF LOS GATOS
ATTEST:
CLERK OF THE TOWN OF LOS GATOS
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