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 THE PROVISIONS OF CHAPTER 282, SECTION 50, PART 0.5, IMPLEMENTATION OF ARTICLE XIIA OF THE CALIFORNIA CONSTITUTION, COMMENCING WITH SECTION 95, DIVISION I, 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, pursuant to state law that requires the County of San Mateo and the City of San Carlos agree to a property tax exchange as a result of the proposed annexation to the City of San Carlos of Assessor’s Parcel Numbers: 049-020-010, 049-141-690, 049-141-680, 049-141-670, 049-141-660, which are located on Winding Way, in the Devonshire neighborhood of the unincorporated area of the County of San Mateo, and;

WHEREAS, the County and the 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 Execution Officer of the Local Agency Foundation Commission issuing the Certificate of Filing on said proposal;

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

WHEREAS, it has been agreed that property tax revenue produced by an incremental factor of 0.080002047 for the affected properties will be transferred between the County Fire Protection District (Tax Code Area 053-010) and the City of San Carlos;

WHEREAS, it has been agreed that property tax revenue produced by an incremental factor of 0.051610085 for the affected properties will be transferred between the County of San Mateo (Tax Code Area 053-010) and the City of San Carlos.

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

1. The property tax incremental factor to be transferred from the County Fire Protection District (Tax Code Area 053-010) to the City of San Carlos is 0.080002047.

2. The property tax incremental factor to be transferred from the County of San Mateo (Tax Code 053-010) to the City of San Carlos is 0.051610085.

3. The transfer of said property tax incremental factors is approved conditioned upon completion of the proposed annexation of the properties located on Winding Way in unincorporated Devonshire (Assessor’s Parcel Numbers: 049-020-010, 049-141-690, 049-141-680, 049-141-670, 049-141-660) to the City of San Carlos.

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