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98-215RESOLUTION NO. 98R- 215 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM RESCINDING RESOLUTION NO. 98R-178 AND AGREEING TO A REDISTRIBUTION OF PROPERTY TAXES FOR ANNEXATION NO.281 - THE KATELLA YARD ANNEXATION - TO THE CITY OF ANAHEIM. WHEREAS, the City of Anaheim has requested by Resolution of Application that the Katella Yard property located southeast of the SR-57(Orange) Freeway south of Katella Avenue at Douglass Road be annexed to the City of Anaheim ("Annexation No. 281 - The Katella Yard Annexation"); and WHEREAS, a legal description and map depicting the area of Annexation No. 281 - The Katella Yard Annexation is attached hereto as Exhibit "A" and incorporated herein by reference; and WHEREAS, Section 99(B) of the Revenue and Taxation Code requires jurisdictions involved in any jurisdictional change to agree to a property tax redistribution prior to the change becoming complete; and WHEREAS, the City of Anaheim and the County of Orange have agreed to a Master Property Tax Agreement establishing a formula for said redistribution; and WHEREAS, Annexation No. 281 - The Katella Yard Annexation meets the criteria for a "Developed/Substantially Developed" annexation as described in the Master Property Tax Transfer Agreement; and WHEREAS, the City Council of the City of Anaheim adopted Resolution No. 98R-178 agreeing to a redistribution of property tax for Annexation No. 281 The Katella Yard Annexation pursuant to the provisions of the Master Property Tax Transfer Agreement relating to "Developed/Substantially Developed" annexations; and WHEREAS, the City Council of the City of Anaheim desires to rescind Resolution No. 98R-178 and adopt a new resolution approving the redistribution of property tax for Annexation No. 281 The Katella Yard Annexation which more specifically describes the redistribution of taxes. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Anaheim that Resolution No. 98R-178 is hereby rescinded, effective upon the adoption of this resolution.