RESOLUTION NO. _____________

BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, STATE OF CALIFORNIA

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RESOLUTION OF THECOUNTY OF SAN MATEO MAKING DETERMINATION OF PROPERTY TAX EXCHANGE PURSUANT TO THE PROVISIONS OF CHAPTER 282, SECTION 50, PART 0.5, 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 required that the County of San Mateo and the Town of Woodside agree to a property tax exchange as a result of the proposed annexation of Greenways and Ward Way to the Town of Woodside; and

WHEREAS, the County and Town have agreed on certain other matters relating to the proposed annexation; and

WHEREAS, the County of San Mateo in making this determination has reviewed the proposed tax exchange and the amount of said exchange; and

WHEREAS, it has been agreed that property tax revenue produced by an incremental factor of .0510000000 for the affected properties will be transferred between the County of San Mateo (Tax Rate Area 73005) and the Town of Woodside.

NOW, THEREFORE, THE COUNT OF SAN MATEO DOES HEREBY RESLOVE, DETERMINE AND ORDER AS FOLLOWS:

The property tax incremental factor to be transferred from the County of San Mateo (Tax Code 73005) to the Town of Woodside is .0510000000.

In accordance with Section 3a of Article XIIIB of the State Constitution, the appropriation limit of the Town of Woodside 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 proposed annexation of Greenways and Ward Way to the Town of Woodside and is effective immediately upon completion of the annexation.

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