R-7222
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AP:HED:mh
City Council Meeting 5/21/86
Santa Monica. California
RESOLUTION NUMBER 7222(C~S)
(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 THE
REORGANIZATION IDENTIFIED AS
"ANNEXATION NO.8" TO THE CITY OF
SANTA MONICA (DETACHMENT FROM THE
CITY OF LOS ANGELES)
WHEREAS, pursuant to Sectlon 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 responsibilitles would be altered by such change must
determine the amount of property tax revenues to be exchanged
between the affected agencies and approve and accept the
negotiated exchange of property tax revenues by resolution; but
if the affected agency 15 a speclal district, the Board of
Supervisors must negotiate on behalf of the district; and
WHEREAS, the CIty of Santa Monica and the Clty of Los
Angeles are the only affected agencies; and
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WHEREAS, the Clty 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 the reorganization identified
as "Annexation No.8" to the Ci ty of Santa Moni ca {Detachment
from the City of Los Angeles}, is as set forth below.
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 resultlng
f rom the reorgani 2a t ion of terr i tory, identi f ied as "Annexation
No. a" to the City of Santa Monica (Detachment from the CJ.ty of
Los Angeles) 1S approved and accepted.
2. The subject territory is owned by the CIty of Santa and,
upon annexation to said City, 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 thls
reorganization.
3. Upon annexation of the subject territory 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
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renegotlated.
The provlsions of Section 99 of the Revenue and
Taxation
Code
shall
not
have
any
application
to
such
renegotiation.
The foregoing resolution was adopted by the City Council of
the City of Santa Honica and the City Council of the City of Los
Angeles.
CITY OF SANTA MONICA
CITY OF LOS ANGELES
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i Hayor
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Hayot'
ATTEST:
ATTEST:
(2~ /h. ~k-G
City Clerk
City Clerk
,;1/':Y OfJ;;'(p986
day of
1986
AP'Piu' " -:) FORM
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Adopted and approved this 27th day of May, 1986.
.kl4~ 1,,~
! Mayor
I hereby certify that the foregoIng Resolut1on No. 7222(CC3)
was duly adopted by the City Council of the City of Santa Monica
at a meetIng thereof held on May 27, 1986 by the following
Counc1l vote:
Ayes: Councilmembers:
Conn, EpsteIn, Jennings, A. Katz,
H. Katz, Zane and Mayor Reed
Noes: Councilmembers:
None
Absta1n: Councilmembers:
None
Absent:
Councilmembers:
None
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ATTEST:
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~7i~::
City Clerk
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