Resolution - 2006-1RESOLUTION NO. 2006-1
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST
COVINA, CALIFORNIA, TO ELECT TO RECEIVE THE CITY'S
SHARE OF TAX INCREMENT REIMBURSEMENTS FROM PROJECTS
ADOPTED OR AMENDED AFTER JANUARY 1, 1994, PURSUANT TO
. HEALTH AND SAFETY SECTION 33607.5(B)
SECTION 1. WHEREAS:
A: The City Council of the City of West Covina by Ordinance No. 2106 adopted
December 2, 2003, amended the time limits for the Merged and Citywide project areas; and
B. The Amended Plan provides for the allocation of taxes from redevelopment
project areas to the Redevelopment agency pursuant to Health and Safety Code section 33670,
subject to the Agency's obligation to pass through 25% of such taxes to certain affected taxing
entities; and
C. Under Health and Safety code section 33607.5, the Agency is required to pay the
City its portion of the amounts passed through to affected taxing entities if the City elects to
receive such tax increments.
SECTION 2. Based upon the foregoing, the City Council hereby elects, pursuant to
Health and Safety code section 33607.5 to receive its share of the 25% tax increment pass -
through commencing with fiscal year 2005-2006 and continuing for the remaining term of the
project.
SECTION 3. That the Mayor shall sign and the City Clerk shall certify to the passage
and adoption of this Resolution and thereupon the same take effect and be in force.
APPROVED AND ADOPTED on this P day of January 2006.
Mayor Shelley Sanderson
ATTEST:
ity Clerk Lai rie Carrico
I, LAURIE CARRICO, CITY CLERK of the City of West Covina, California, do hereby certify
that the foregoing resolution was duly adopted by the City Council of the City of West Covina,
California, at a regular meeting thereof held on the P day of January 2006, by the following
vote of the City Council:
AYES:
Herfert, Hernandez, Sanderson
NOES:
None
ABSENT:
Lane
ABSTAIN:
Touhey
• APPROVED AS TO FORM:
City Attorney Amold Alv ez-Glasman
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City Clerk LauneCarnco