1991-237-Electing To Receive All Or Any Portion Of The Tax Revenues Pursuant To Health And Safety Code Section 33676RESOLUTION 1991 -237
RESOLUTION OF THE TOWN COUNCIL
OF THE TOWN OF LOS GATOS ELECTING TO RECEIVE
ALL OR ANY PORTION OF THE TAX REVENUES PURSUANT
TO HEALTH AND SAFETY CODE SECTION 33676
WHEREAS, by Resolution No. 91 -1, adopted on February 13, 1991, the Planning
Commission of the Town of Los Gatos selected and designated the boundaries of the project
area (the 'Project Area') for the proposed Central Los Gatos Redevelopment Project (the
'Project "), approved a Preliminary Plan for the Project and submitted said Preliminary Plan
to the Redevelopment Agency of the Town of Los Gatos (the "Agency"); and
WHEREAS, the Agency is preparing a proposed redevelopment plan (the
"Redevelopment Plan ") for the Project; and
WHEREAS, Section 33676 of the Health and Safety Code provides that prior to the
adoption of a redevelopment plan an affected taxing agency may elect to receive, in addition
to the portion of taxes allocated to the affected taxing agency pursuant to Health and Safety
Code Section 33670(a), all or any portion of the tax revenues allocated to the Agency
pursuant to Health and Safety Code Section 33670(b) which are attributable to (a) the tax
rate increases imposed for the benefit of the taxing agency after the tax year in which the
ordinance adopting the redevelopment plan becomes effective; and /or (b) the increases in
the annual assessed value of taxable property in the Project Area, as the assessed value is
established by the assessment roll last equalized prior to the effective date of the ordinance
adopting the Redevelopment Plan, calculated under Revenue and Taxation Code Section
110.1(f) (collectively, the "Increases "); and
WHEREAS, the Town Council desires to receive all such Increases.
RESOLVED, as follows:
Section 1. The Council hereby elects to receive all increases as herein defined.
Section 2. The Town Clerk is hereby directed and authorized to transmit a copy, of
this resolution to the Executive Director of the Redevelopment Agency of the Town of Los
Gatos and to the tax collector of Santa Clara County.
C13:AGENCY\CUELEC
PASSED AND ADOPTED at a regular meeting of the Town Council held on 21st day
of October, 1991, the following vote:
COUNCIL MEMBERS:
AYES:
NAYS:
ABSENT:
\J.`1111_\hG
SIGNED:
0401MIIS
Randy Attaway, Joanne Benjamin, Steven Blanton,
Eric D. Carlson.
None
None
None
Mayor Brent N. Ventura
MAYOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
CLERK OF THE TOWN OF LbS
LOS GATOS, CALIFORNIA
C13:AGENCY\CUELEC 2