R 2903RESOLUTION NO. ~903
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF ARROYO GRANDE NEGOTIATING
AN EXCHANGE OF PROPERTY TAX REVENUE AND
ANNUAL TAX INCREMENT FROM THE CITY OF
ARROYO GRANDE TO THE CITY OF GROVER CITY
· ase of a jurisdictional change invo~ving_t~o
WHEREAS, in ~he c -..~ ~,, Revenue and Taxation
-¢+ies both cities are req~L=~ -z ~_ ~-~-~mine the amount or
Section 99 to commenc? ~egot~_ed between and among such local
property tax revenues to De
agencies; and
the city Council of the ~ity.~
WHEREAS, on November 4, 1991,
Grover city adopted Resolution No~ 91-126, to proce
annexation to Grover City and the detachment from Arroyo an
parcel of property located at the southwest corner of oak Park
Boulevard and E1 camino Real (APN #077,011,005); and
WHEREAS, the city of Arroyo Grande took corresponding action
concerning the aforementioned parcel; and
WHEREAS, the city of Grover city and the city of Arroyo Grande
have negotiated the exchange of property tax revenue, which is
approximately $15.90 in 1991-92 fiscal year, and the annual tax
increment; and
WHEREAS, it is in the public interest that such negotiated
exchange of property tax revenues and annual tax increment be
consummated.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the
city of Arroyo Grande hereby agrees to relinquish the following
negotiated exchange of property tax revenues and annual tax
increment:
Annual tax increment in an amount to be determined by the
County Auditor, based upon the following percentage
agreed to by both parties as 20.75337 percent from Tax
Rate Area 001-001 to Tax Rate Area 005-013.
BE IT FURTHER RESOLVED, that the city of Arroyo Grande shall
forward this Resolution to the county of San Luis Obispo for action
by the Local Agency Formation Commission.
On motion of Council Member Dougall , seconded by
Council Member Smith , and on the following roll call vote,
to wit:
AYES:COuncil Members Dougall, Smith, Moots and Mayor Millis
NOES:None
ABSENT:Council Member Gallagher
the foregoing resolution was passed and adopted by the city Council
of the city of Arroyo Grande at its regular meeting of January 14,
MARK~. ~ILLIS M~YOR
ATTEST: ~V~'~
N IS, CITY CLERK
APPROVED AS TO FORM: