RESOLUTION NO. _____________

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 PROVISIONS OF CHAPTER 282, SECTION 59, PART 0.05, IMPLEMENTATION OF ARTICLE XIIIA OF THE CALIFORNIA CONSTITUTION COMMENCING WITH SECTION 95, DIVISION 1, OF THE REVENUE AND TAXATION CODE

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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 Redwood City negotiate a property tax exchange relating to the proposed reorganization of the Lands of Farahyar and Mathews;

WHEREAS, the County and the City have agreed there is no net exchange of property tax because the properties being detached and annexed are of similar assessed value; and

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; and

WHEREAS, it has been agreed that no property tax revenue will be transferred from the County of San Mateo to the City of Redwood City.

NOW THEREFORE, THE COUNTY OF SAN MATEO DOES HEREBY RESOLVE, DETERMINE, AND ORDER AS FOLLOWS:

No Property tax shall be transferred from the County of San Mateo to the City of Redwood City.

In accordance with Section 3a of Article XIIIB of the State Constitution, the appropriation limit of Redwood City shall not be increased based on this agreement.

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