HomeMy WebLinkAbout1990-04-12 - Resolution No. 90-12i •
RESOLUTION NO. 90-12
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE YORBA LINDA WATER DISTRICT
ELECTING TO BE ALLOCATED CERTAIN TAX REVENUES
NOTWITHSTANDING THE PROPOSED FIRST AMENDMENT TO THE
CITY OF YORBA LINDA REDEVELOPMENT PROJECT
(HEALTH AND SAFETY CODE SECTION 33676)
WHEREAS, the Yorba Linda Redevelopment Agency proposes to adopt the First
Amendment to the Yorba Linda Redevelopment Project which modifies
the previously adopted Redevelopment Plan and adds new territory to
the Yorba Linda Redevelopment Project area; and
WHEREAS, the Yorba Linda Water District is a taxing agency with territory within
both the original Yorba Linda Redevelopment Plan area and the
territory proposed to be added by the First Amendment to the Yorba
Linda Redevelopment Project; and
WHEREAS, subsequent to the proposed adoption of the First Amendment to the
Yorba Linda Redevelopment Project, Yorba Linda Water District will
impose a property tax rate to pay debt service upon a Series "C" of
General Obligation Bonds issued by the Yorba Linda Water District on
behalf of its Improvement District No. 2.
NOW THEREFORE BE IT RESOLVED by the Board of Directors of the Yorba
Linda Water District as follows:
Section 1: If the Yorba Linda Redevelopment Agency adopts the proposed
First Amendment to the Yorba Linda Redevelopment Project,
Yorba Linda Water District elects to be allocated, in addition to
the portion of taxes allocated to it pursuant to subdivision (a) of
Section 33670, property tax revenues attributable to both of the
following:
(a) Increases in the rate of tax imposed for the benefit of the
Yorba Linda Water District, which levy occurs after the tax
year in which the ordinance adopting the First Amendment to
the Yorba Linda Redevelopment Project becomes effective.
(b) Increases in the assessed value of the taxable property in the
Redevelopment Project area as the assessed value is
established by the assessment roll last equalized prior to the
effective date of the ordinance adopting the First Amendment
to the Yorba Llnda Redevelopment Project pursuant to
subdivision (a) of Section 33670 which are, or otherwise
would be, calculated annually pursuant to subdivision (f) of
Section 110.1 of the Revenue and Taxation Code.
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Section 2: The General Manager of the Yorba Linda Water District is
authorized and directed to transmit a copy of this Resolution to
(a) the City Council of the City of Yorba Linda, (b) the Yorba
Linda Redevelopment Agency, and (c) the Auditor-Controller/Tax
Collector for the County of Orange.
PASSED AND ADOPTED this 12th day of April, 1990 by the following called vote:
AYES: Arthur C. Korn, Whit Cromwell, M. Roy Knauft, Sterling Fox
NOES: 0
ABSENT: Paul Armstrong
ABSTAIN 0 J
President,
Yorba Linda Water District
(SEAL)
ATTEST:
Secretary,
Yorba Linda Water