BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, STATE OF CALIFORNIA
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RESOLUTION OF COUNTY OF SAN MATEO MAKING DETERMINATION OF PROPERTY TAX EXCHANGE PURSUANT TO THE PROVISIONS OF CHAPTER 282, SECTION 50, PART 0.5, IMPLEMENTATIONOF ARTICLE XIIIA OF THE CALIFORNIA CONSTITUTION, COMMENCING WITH SECTION 95, DIVISION 1, OF THE REVENUE AND TAXATION CODE
RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that
WHEREAS, state law requires that the County of San Mateo and the City of San Carlos agree to a property tax exchange as a result of the proposed annexation of the Lands of Chaloupke to the City of San Carlos;
WHEREAS, the County and City have agreed on certain other matters relating to the proposed annexation;
WHEREAS, the subject determination has been made prior to and as a condition precedent to the Executive Officer of the Local Agency Formation Commission issuing the Certificate of Filing on said proposal;
WHEREAS, the County of San Mateo in making this determination has reviewed the proposed property tax exchange and the amount of said exchange;
WHEREAS, it has been agreed that property tax revenue produced by an incremental factor of .0780377667 for the affected properties will be transferred between the County Fire Protection District (Tax Code Area 53010) and the City of San Carlos;
WHEREAS, it has been agreed that property tax revenue produced by an incremental factor of .0519622333 for the affected properties will be transferred between the County of San Mateo (Tax Code Area 53010) and the City of San Carlos;
NOW THEREFORE, THE COUNTY OF SAN MATEO DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
The property tax incremental factor to be transferred from the County of San Mateo (Tax Code 53010) to the City of San Carlos is .0519622333.
In accordance with Section 3a of Article XIIIB of the State Constitution, the appropriation limit of the City of San Carlos shall be increased by amounts indicated above, and the appropriation limits of the transfer or entities described above shall be decreased by the same amount. The exchange of said revenues is approved conditioned upon the completion of the proposed annexation of the Lands of Chaloupka to the City of San Carlos and is effective immediately upon completion of the annexation.
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