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WHEREAS, the County staff and the City staff recommend concurrent resolutions be <br />adopted and approved by their respective governing bodies to apply the Master Property Transfer <br />Agreement to the 17`h and Tustin Island; and <br />NOW, THEREFORE, the Board of Supervisors of the County of Orange does hereby <br />resolve as follows: <br />SECTION 1: Approve the property tax exchange agreement reached between the City of Santa <br />Ana and the County of Orange whereby, upon completion of the annexation of the 17th Street and <br />Tustin Island to the City of Santa Ana, City shall receive 58,5285 percent and the County shall <br />receive 41.4715 percent of the County's share of the 1 percent basic levy of property tax from the <br />annexed area pursuant to Master Property Tax Transfer Agreement. The City shall also receive <br />one hundred percent of the Orange County Public Library Fund generated from the proposed <br />annexation area. These proportional shares shall remain as the allocation of tax revenues between <br />the City and the County for all future years unless the City and County agree by written Resolution <br />to adjust the allocation proportions. <br />Resolution 19-093, Item 37 <br />Page 2 of 2 <br />17`h Street and Tustin Island Annexation to the City of Santa Ana <br />