TRANSFER PROPERTY TAX REVENUES RUBY HILL/ALDEN LANE/VINEYARD AVENUE

NOV-19-92 THU 11 ;36 CITY OF LIVERMORE FAX NO. 5103735135 P. 03 +51027237E4 COUNTY ADM IN, OFFICE 742 P03 NOV 19 '92 EXHIBIT 8 IN THE CITY COUNCIL OF THE CITY OF PLEASANPON STATE OP CALIFORNIA A RESOLUTION DIRECTING THE EXCHANGE OF PROPERTY TAX REVENUE (RUBY HILL ANNEXATION) The City Council of the City of Pleasanton resolves that 1. That for the Ruby Hill Annexation by the City of Pleasanton which will be effective for the fiscal year following the filing of the Certificate of Completion with the State Board of Equalization providing the filing occurs prior to December 31 of the preceding year, the Auditor-Controller of the County of Alameda shall be directed to cause an exchange of property tax revenues as follows: (a) The Mayor's Formula shall apply to that portion of the property located within Tax Rate Area 75-004 (b) The Mayor's Formula shall apply to that portion of the property located within Tax Rate Area 64.003 except that the County shall receive that portion of the property tax currently allocated to the Livermore Area Recreation and Park District (c) Both (a) and (b) above shall be phased in such a manner as to provide the City of Pleasanton with a 20% tax share for taxes received from the effective date herein through Fiscal Year 94/95, a 22% tax share in Fiscal Year 95/96 and a 25% in Fiscal Year 96/97 based on a weighted average of the tax rate areas.