CC Resolution 8689
RESOLUTION NO. 8689
BEING A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF CAMPBELL ELECTING THE ALTERNATIVE METHOD OF
DISTRIBUTION OF PROPERTY TAX
LEVIES AND ASSESSMENTS
WHEREAS, Chapter 3 (commencing with Section 4701) of Part 8 of Division 1 of the California
Revenues and Taxation Code (hereinafter called "the Law") authorizes a county to elect by resolution to
adopt an alternative method of distribution of property tax levies and assessments on the secured roll made
by a county on its behalf or as the tax-levying and tax-collecting agency for other political subdivisions;
and
WHEREAS, the Board of Supervisors of the County of Santa Clara has elected to implement the
alternative method authorized by the Law; and
WHEREAS, the City may participate in the alternative method of distribution of property tax
levies.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Campbell that the
City elects to participate with the County's alternative method of distribution of property tax levies
authorized by the Law for the 1994/95 fiscal year and for all following years unless and until discontinued
pursuant to the provisions of the Law.
NOW, THEREFORE BE IT FURTHER RESOLVED, that the City Council of the City of
Campbell direct the Finance Director to establish a reserve entitled "Reserve for Teeter Plan
Elimination"; and that the one-time payment received as a result of the Teeter Plan participation of
($168,749) be placed in this reserve ($151,680 General Fund and $17,089 LLD Fund) to be released to
offset any budgetary impacts resulting from the County of Santa Clara's discontinuation of the Teeter Plan.
PASSED AND ADOPTED this 5th day of July, 1994 by the following roll call vote:
AYES:
Councilmembers:
Conant, Ashworth, Burr, Dougherty, Watson
NOES:
Councilmembers:
None
ABSENT:
Councilmembers:
None
APPROVED:
ZL-~
Anne Bybee, City Clerk