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RESOLUTION NO. 5943
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA
APPROVING AND ACCEPTING NEGOTIATED EXCHANGE OF
PROPERTY TAX REVENUE RESULTING FROM "REORGANIZATION
NO. 1-96, PARCELS 1 AND 2" (DETACHMENT FROM CITY OF
MONROVIA, ANNEXATION TO CITY OF ARCADIA)
WHEREAS, pursuant to Section 99 of the Revenue and Taxation Code, prior 10 the
effective date of any jurisdictional change the governing bodies of all agencies whose service
areas or service responsibilities would be altered by such change must determine the amount of
property tax revenue to be exchanged between the affected agencies and approve and accept the
negotialed exchange of property tax revenues by resolution; but if the affecled agency is a special
district, the Board of Supervisors must negotiate on behalf of the district; and
WHEREAS, the proposal identified as "Reorganization 1-96, Parcel I and 2" affects only
the cities of Monrovia and Arcadia; and
WHEREAS, the City Council of the City of Arcadia has determined that the amount of
property tax reVenues to be exchanged between the City of Arcadia and the City of Monrovia their
respective agencies as a result of the reorganization of territory entitled "Reorganization 1-96,
Parcels I and 2", is as set forth below.
NOW, THEREFORE, BE IT RESOLVED as follows:
Section J.
The negotiated exchange of property tax revenues resulting from the
reorganization proposal identified herein is approved and accepted.
Section 2.
For fiscal years commencing on and after July I, 1997, or the July 1 after
the effective date of this jurisdictional change, whichever is later, One Hundred, Ninety-Seven
Dollars ($197) in property tax revenues received by the City of Monrovia attributable to the
subject areas shall be transferred to the City of Arcadia, and the City of Monrovia's share of
property tax revenue shall be reduced accordingly. In addition, for each fiscal year commencing
July 1, 1997, or the July 1 after the effective dale of this jurisdictional change, whichever is later,
a portion of the annual tax increment (A TI) attributable to the Tax Rate Areas within the
"Monrovia Reorganization 1-96, Parcels 1 and 2" area, as set forth below, shall be transferred
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from the City of Momovia to the City of Arcadia, and the City of Monrovia's share of incremental
tax growth shall be reduced accordingly.
Tax Rate Area A TI%
06218 0.066679902
06209 0.066647818
01902 0075217611
Section 3.
No other transfer of property tax revenue shall be made from or to any
other taxing agency as a result of this proposal.
Section 4. lbe City Clerk shall certify to the adoption of this Resolution.
Passed, approved and adopted this 3rd day of Seplember, 1996.
,ffd?~
Mayor/of the City of Arcadia
Pro tern
ATTEST:
Cit
APPROVED AS TO FORM:
JiJ~H
Michael H. Miller
City Attorney
Jl? ~~ _
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS:
CITY OF ARCADIA' )
I, JUNE D. ALFORD, City Clerk of the City of Arcadia, hereby certify that the foregoing
Resolution No. 5943 was passed and adopted by the City Council of the Cily of Arcadia, signed by
the Mayor and attested to by the City Clerk at a regular meeting of said Council on the 3rd day of,
September 1996, and that said Resolution was adopted by the following vote, 10 wit:
AYES:
NOES:
ABSENT:
Councilmember Chang, Harbicht, Kovacic, Young, KuIm
None
None
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