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Resolution - 6016v RESOLUTION NO. 6016 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST COVINA, CALIFORNIA, SUPPORTING THE LEAGUE OF CALIFORNIA CITIES PROPOSAL AS THE BASIS FOR TRANSFERRING PROPERTY TAX REVENUES IN ANNEXATION • PROCEEDINGS WHEREAS, Assembly Bill 8 requires cities and counties to negotiate a • transfer of property tax revenues in case of annexation and other municipal reorganization proceedings; and WHEREAS, the requirements of AB 8 in absence of any formula for deter- mining an equitable transfer of property tax revenues, is resulting in unnecessary delays in the initiation and completion of annexations; and WHEREAS, these delays are detrimental to the orderly process of changing the origin of service -delivery resulting in needless citizen confusion in the affected territory; and WHEREAS, the League of California Cities has developed an equitable formula as the permanent basis for transferring property tax based on a countywide city to county ratio. NOW, THEREFORE, BE IT RESOLVED THAT: The City Council of the City of West Covina, California, has reviewed and supports the League of California Cities pro- ? as the basis for transferring property tax revenues in annexation proceedings, and that the City Clerk shall certify to the adoption of this resolution. • APPROVED and ADOPTED this ATTEST: A i ty (Clerk Yvonne Ca Imes 13th day of November 1979. �• yor Kenneth I. Chappell I hereby certify that the foregoing resolution was duly adopted by the City Council of the City of West Covina at a regular meeting thereof held on the 13th day of November , 1979, by the following vote of the Council: AYES: Miller, Tice, Shearer, Browne, Chappell NOES: None ABSENT: None • APPROVED AS TO FORM: • _ Gc� City Attorney ity Clerk Yvonne Calmes