CC RES 1987-018RESOLUTION N0. 87 -18
JOINT RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF RANCHO PALOS VERDES AND THE
CITY COUNCIL OF THE CITY OF ROLLING HILLS
ESTATES APPROVING AND ACCEPTING NEGOTIATED
EXCHANGE OF PROPERTY TAX REVENUE RESULTING
FROM THE REORGANIZATION IDENTIFIED AS
"HIGHRIDGE ROAD ANNEXATION" TO THE CITY
OF RANCHO PALOS VE RDE S FROM THE CITY OF
ROLLING HILLS ESTATES
WHEREAS, pursuant to Section 99 of the Revenue and Taxation Code, prior
to the effective date of any jurisdictional change the governing bodies of
all agencies whose service areas or service responsibilities would be al-
tered by such change must determine the amount of property tax revenues to
be exchanged between the affected agencies and approve and accept the nego-
tiated exchange of property tax revenues by resolution; but if the affected
agency is a special district, the Board of Supervisors must negotiate on
behalf of the district; and
WHEREAS, the City Council of the City of Rancho Palos Verdes and the
City Council of the City of Rolling Hills Estates have determined that the
amount of property tax revenue to be exchanged between their respective
agencies as a result of the reorganization proposal identified as "High -
ridge Road Annexation" to the City of Rancho Palos Verdes from the City of
Rolling Hills Estates, is as set forth below.
NOW, THEREFORE, BE IT RESOLVED as follows
1. The negotiated exchange of property tax revenues between the City
of Rancho Palos Verdes and the City of Rolling Hills Estates resulting from
the reorganization of territory, identified as "Highridge Road Annexation"
to the City of Rancho Palos Verdes from -the City of Rolling Hills Estates
is approved and accepted.
707CP /RES4.1 -2 -1- Resolution No. 87 -18
2. For fiscal years commencing on and after July 1, 1987, or after the
effective date of this jurisdictional change, whichever is later, no pro-
perty tax revenue shall be exchanged between the Cities of Rancho Palos
Verdes and Rolling Hills Estates as a result of this reorganization.
3. No other transfers of property tax revenues shall be made to or
from any other taxing agencies as a result of this reorganization.
The foregoing resolution was adopted by the City Council of the City of
Rancho Palos Verdes and by the City Council of the City of Rolling Hills
Estates.
CITY OF RANCHO PALOS VERDES
May r
ATTEST:
qty Clerk
April 21, 1987
CITY OF ROLLING HILLS ESTATES
Mayor
ATTEST:
City Clerk
707CP /RES4.1 -2 -2- Resolution No. 87 -18
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