HomeMy WebLinkAboutCC Reso No 1993-38RESOLUTION NO. 93- ~$
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF LAKE ELSINORE, CALIFORNIA
REQUESTING THE RIVERSIDE COUNTY BOARD OF
SUPERVISORS APPROVAL TO PARTICIPATE
IN THE ALTERNATIVE METHOD OF TAX
DISTRIBUTION - "TEETER PLAN" - SB 742
WHEREAS, Chapter 3 of Part 8 of Division 1 of the California
Revenue and Taxation Code (commencing with Section 4701) provides
for an alternative method for Tax Distribution; and
WHEREAS, the Riverside County Board of Supervisors will be
`t considering, on July 6, 1993, the adoption of this alternative
method, subject to a final recommendation to be made to them within
90 days; and
WHEREAS, the aforementioned method consists of 3 major parts;
i) The County will distribute 95$ of all delinquent secured
taxes as of June 30, 1993 to participating entities. The remaining
5g must be placed in a permanent tax loss reserve fund to cover tax
losses incurred if properties sold at auction do not yield
sufficient amounts to cover taxes owed.
(_,
2) The current secured taxes levied in each subsequent year
l will be distributed to participating entities at 100 of the levy
(irrespective of delinquency).
3) The delinquent taxes, penalties and interest collected in
subsequent years will not be distributed to participating entities
but instead must go to fund the tax loss reserve fund and the
distribution of 100 of the current levy.
NOW, THEREFORE, the City Council of the City of Lake Elsinore
requests the Riverside County Board of Supervisors approval to
participate in the alternative method of Tax Distribution.
Resolution No. 93- 36
Page 2
PASSED, APPROVED AND ADOPTED this 13th day of July, 1993 by
following votes:
AYES: COUNCILMEMBERS: ALON6I, CHERVENY, DOMINGUEZ,
WINKLER, WASHBURN
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
ABSTAIN: COUNCILMEMBERS: NONE~/ ~~
~' " i. 6~"
GARY WASHBURN, MAYOR
CI OF LAKE ELSINORE
AT EST:
-~, ~~'"1
VICKI L. KA5AD, CITY CLERK
CITY OF LAKE ELSINORE
APPROVED AS TO FORM AND LEGALITY:
~ MYl
JOHN R. H PE ', ITY ATTORNEY
:~
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) SS:
CITY OF LAKE ELSINORE )
I, VICKI KASAD, CITY CLERK OF THE CITY OF LAKE ELSINORE,
DO HEREBY CERTIFY that the foregoing Resolution duly adopted by the
City Council of the City of Lake Elsinore at a regular meeting of
said Council on 13th day of July, 1993, and that it was so
adopted by the following vote:
AYES: COUNCILMEMBERS: ALONGI, CHERVENY, DOMINGUEZ,
WINKLER, WASHBURN
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
ABSTAIN: COUNCILMEMBERS: NONE
~~~
VICiZI KASAD, CIT CLERK
CITY CFA' LAKE ELSINORE
(SEAL)
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) SS:
CITY OF LAKE ELSINORE )
I, VICKI KASAD, CITY CLERK OF THE CITY OF LAKE ELSINORE,
DO HEREBY CERTIFY that the above and foregoing is a full, true and
correct copy of Resolution No. 93-38 of said Council, and that the
same has not been amended or repealed.
D ED: JULY 14, 1993
~~~~;~~
VICKI KASAD, CITY CLERK
CITY O?' ~,AKE ELSINORE
(SEAL)