HomeMy WebLinkAboutReso - CC - 044-1994RESOLUTION NO. 44-94
RESOLUTION MAKING DETERMINATION OF PROPERTY
TAX EXCHANGE
RESOLVED, by the CITY OF BURLINGAME that,
WHEREAS, State law requires that the City of Burlingame and
the Town of Hillsborough agree to a property tax exchange as a part
of the proposed annexation of Lands of Rogers (APN 027-340-230) to
the Town of Hillsborough.
WHEREAS, the City of Burlingame in making this determination
has reviewed the proposed property tax exchange and the amount of
said exchange; and
WHEREAS, it has been agreed that property tax revenue of
$1,853,75 for the City portion for the affected properties will be
transferred from the City of Burlingame to the Town of
Hillsborough.
NOW, THEREFORE, the City of'Burlingame does hereby resolve,
determine, and order as follows: The City portion of property tax
from (APN 027-340-230) in the amount of $1,853.75 shall be
transferred from the City of Burlingame to the Town of
Hillsborough.
The exchange of said revenues is approved conditioned upon the
completion of the proposed annexation of said lands to the Town of
Hillsborough and is effective immediately upon completion of the
annexation.
--, . n►. v'rh
MAYOR
I, JUDITH A. MALFATTI, City Clerk of the City of Burlingame,
do hereby certify that the foregoing Resolution was introduced at
a regular meeting of the City Council held on the 5th day of
JULY 1 1994, and was adopted thereafter by the
following vote:
AYES: COUNCILMEMBERS
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS
HARRISON, KNIGHT, O'MAHONY, PAGLIARO, SPINELLI
NONE
NONE
CITY CLERK