R-7324
'"
e
e
AP: HED: I.JS: ll1h
Santa Monica, California
RESOLUTION NUMBER '. 7324 (CCS)
(City Council Series)
A JOINT RESOLUTION OF THE CITY
COUNCIL OF THE CITY OF SANTA MONICA
AND THE CITY COUNCIL OF THE CITY OF
LOS ANGELES APPROVING AND ACCEPTING
A NEGOTIATED EXCHANGE OF PROPERTY
TAX REVENUE RESULTING FROM
"REORGANIZATION NO.8, PARCELS A
AND Bn BETWEEN THE CITIES OF SANTA
MONICA AND LOS ANGELES
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 who service areas or
service responsibilities would be altered by such change must
determine the amount of property tax revenues to be exchanged
between the agencies and approve and accept the negotiated
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 of Santa Monica and the City of Los
Angeles are the only affected agencies; and
WHEREAS, the City Council of the City of Santa Monica
and the City Council of the City of Los Angeles have determined
that the amount of property tax revenue to be exchanged between
their respective agencies as a result of IIReorganization No.8,
PARCELS A AND Bn between the City of Santa Monica and the City of
Los Angeles, is as set forth below.
- 9 -
'"
e
e
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
1. The negotiated exchange of property tax revenues
between the City of santa Monica and the City of Los Angeles
resul ting from "REORGANIZATION NO.8, PARCELS A AND Bit between
the city of Santa Monica and the city of Los Angeles is approved
and accepted.
2. "PARCEL All OF "REORGANIZATION NO.8" is owned by
the city of Santa Monica and, upon annexation to said city and
detachment from the City of Los Angeles shall be exempt from ad
valorem taxation. Therefore, there shall be no transfer of
property tax revenues to or from any affected agency as a result
of this reorganization.
3. Upon annexation of "PARCEL A" to the City of Santa
Monica, in the event the territory shall cease to be tax exempt,
this resolution for property tax exchange shall be renegotiated.
The provisions of Section 99 of the Revenue and Taxation Code
shall not have any application to such renegotiation.
4. "PARCEL B" of "REORGANIZATION NO. 8 is owned by the
city of Santa Monica and is exempt from ad valorem taxation.
Therefore, there shall be no transfer of property tax revenues to
or from any affected agency as a result of annexation of "PARCEL
B" to the City of Los Angeles from the City of Santa Monica.
5. Upon annexation of "PARCEL B" to the City of Los
Angeles, in the event the territory shall cease to be tax exempt,
this resolution for property tax exchange shall be renegotiated.
- 10 -
e
e
The provisions of Section 99 of the Revenue and Taxation Code
shall not have any application to such renegotiation.
APPROVED AS TO FORM:
rw-M'" L-.. "-
Robert M. Myers
City Attorney
7)
--
- 11 -
e
e
Adopted and approved this 14th day of October, 1986.
Mayor
I hereby certify that the foregoing Resolution No. 7324{CCS)
was duly adopted by the City Council of the city of Santa Monica
at a meeting thereof held on October 14, 1986 by the following
Council vote:
Ayes: councilmembers:
Conn, Epstein, Jennings, A. Katz,
H. Katz, Zane and Mayor Reed
Noes: Councilmembers:
None
Abstain: Councilmembers:
None
Absent: councilmembers:
None
ATTEST:
/) 1h~~-~ -. '- ..
~-- .~
ci tY- ~let"~ ~ ~
- . -
.. --.....;:..---
----- "'-- ....-
~
~
-
~