HomeMy WebLinkAbout1986-10-09 - Resolution No. 86-15r •
RESOLUTION NO. 86 - 15
RESOLUTION OF THE BOARD OF DIRECTORS OF
YORBA LINDA WATER DISTRICT SETTING POLICY
OF FUTURE ANNEXATIONS
WHEREAS, it has been the policy of the Yorba Linda Water
District (hereinafter referred to as District) that all land
annexed to the District will be fully subject to District
property taxed and
WHEREAS, after the passage of Proposition 13 in 1978, the
District lost the ability to set its property tax rate and
levy a separate ad valorem property taxi and
WHEREAS, legislation enacted following Proposition 13 has
required the District to negotiate with other taxing
entities to receive a share of the 1% property tax collected
within any annexing territory) and
WHEREAS, the County of Orange has established a policy that
special districts will not receive a share of property tax
from their new service annexations and this District has
been unsuccessful in attempting to negotiate any
modification of that County policyf and
WHEREAS, various property owners within the sphere of
influence of the District have requested annexation and it
is the desire of this Board of Directors to set a policy
concerning terms and conditions of annexation which will
permit the proposed annexations to go forward on a basis
which will be fair and equitable both to the property
annexed and to the territory already within the boundaries
of the District.
NOW9 THEREFORE BE IT RESOLVED by the Board of Directors of
the Yorba Linda Water District as follows
Segtion 1,,_ The prior policies of the Yorba Linda Water
District concerning back taxes for the District's 1959 water
bonds, the Improvement District No. 1 Series A and Series B
Bonds, and the Improvement District No. 2 Series A and
Series B Bonds are hereby reaffirmed. All property annexed
to the Yorba Linda Water District will be assessed an
annexation fee equal to (1) back taxes for the appropriate
bond issues, or (2) a proportionate share of the depreciated
value of the District's West Side Water Service System
according to the number of acres proposed to be annexed,
compared to the number of acres within the area served by
the West Side Water Service System. If appropriate, property
will be annexed simultaneously into Improvement District No.
1 or Improvement District No. 2 as a part of the terms and
conditions of annexation to the District.
F?ectign 2. In addition to the annexation fee to pay for
previously installed District capital facilities, each
annexation will be subject to an additional annexations fee
to be in lieu of a share of the post-Proposition 13 1%
general property tax revenue. The additional annexation fee
will be calculated by estimating probable District annual
tax revenue by (1) estimating the fair market value of the
property following annexation and considering probable land
use for the property, and (2) multiplying the probable
market value by .0003. The annexation fee will be a sum
equal to the present worth of an income stream equal to the
probable District annual tax revenue over a period of 40
years.
PASSED AND ADOPTED THIS 9th day of October , 1966 by
the following called voter
Ayess Armstrong, Knauft, Fox and Cromwell
Noes None
Absents Mills
Abstain e None
G~
vC
President
Board of Directors
ATTESTS
AL'_/X e'ar`YV
"~4~
/8ecre B
oard of Directors
~t 4