CC Resolution 8263
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RESOLUTION NO. 8263
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CAMPBELL
ELECTING TAX INCREMENT PASS-THROUGH
WHEREAS, the City of Campbell Redevelopment Agency is
preparing a Second Amended and Restated Central Campbell
Redevelopment Plan (the "Amended Plan"), which provides for tax
increment financing pursuant to Health and Safety Code Section
33670; and
WHEREAS, the Amended Plan proposes the addition of territory
generally known as the MCGlincey Lane Expansion Area (the
"Amendment Area") to the territory previously designated as the
Central Campbell Redevelopment Project Area pursuant to the
original Central Campbell Redevelopment Plan adopted June 21, 1983;
WHEREAS, the City of Campbell is an affected taxing agency
authorized to make the election described in Health and Safety Code
Section 33676 with respect to the Amendment Area.
NOW, THEREFORE, BE IT RESOLVED that, with respect to the
Amendment Area, the City of Campbell elects to be allocated all of
the tax revenue attributable to increases in the rate of tax
imposed for the benefit of the City of Campbell which levy occurs
after the tax year in which the ordinance adopting the Amended Plan
becomes effective, and elects to be allocated all of the tax
revenues attributable to increases in the assessed value of the
taxable property in the Amendment Area, as the assessed value is
established by the assessment roll last equalized prior to the
effective date of the ordinance adopting the Amended Plan for the
Central Campbell Redevelopment Project pursuant to Health and
Safety Code Section 33670(a), which are or otherwise would be,
calculated annually pursuant to Revenue and Taxation Code Section
110.1(f) .
BE IT FURTHER RESOLVED that the City Manager is hereby
authorized and directed to transmit copies of this Resolution to
the appropriate officials and to take all other actions required
pursuant to Health and Safety Code Section 33676 to implement the
election set forth in this Resolution.
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PASSED AND ADOPTED THIS 17th day of March, 1992, by the
following roll call vote:
AYES:
COUNCILMEMBERS:
Kotowski, Conant, Ashworth, Watson, Burr
NOES:
COUNCILMEMBERS:
None
ABSENT:
COUNCILMEMBERS:
None
APPROVED:
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ALD R. BURR, MAYOR
ATTEST:
1
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Baibara ke. " . ,city Clerk
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