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55A - RESO - GAS TAX BONDS
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55A - RESO - GAS TAX BONDS
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Last modified
10/30/2019 12:55:49 PM
Creation date
10/30/2019 11:40:51 AM
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City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
55A
Date
11/5/2019
Destruction Year
2024
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2) of the Revenue and Taxation Code, shall be apportioned monthly from the Highway Users Tax Account in the <br />Transportation Tax Fund among the counties and cities as follows: (a) $400 per month is apportioned to each city <br />and city and county, and $800 per month is apportioned to each county and city and county, (b) $600,000 per <br />month is transferred to the Bicycle Transportation Account in the State Transportation Fund, and (c) the balance <br />is apportioned as follows: (1) a base sum will be computed for each county by using the same proportions of fee - <br />paid and exempt vehicles as are established for purposes of apportionment of funds under Section 2104(d), (2) <br />within a county, the percentage of the total assessed valuation of tangible property subject to local tax levies within <br />the county which is represented by the assessed valuation of tangible property outside the incorporated cities of <br />the county shall be applied to its base sum, and the resulting amount shall be apportioned to the county, and (3) <br />the difference between the base sum for each county and the amount apportioned to the county will be apportioned <br />to the cities of that county in the proportion that the population of each city bears to the total population of all the <br />cities in the county. <br />Section 2107. Pursuant to Section 2107, a sum equal to the net revenues derived from 7.3 percent of the <br />per gallon gas tax under the Motor Vehicle Fuel License Tax Law (Part 2, commencing with Section 7301, of <br />Division 2), $0.0259 per gallon under the Use Gas Tax Law (Part 3, commencing with Section 8601, of Division <br />2) and 11.5 percent under the Diesel Gas Tax Law (Part 31, commencing with Section 60001, of Division 2), of <br />the Revenue and Taxation Code, is apportioned monthly to cities from the Highways Users Tax Account as <br />follows: the State Controller allocates annually to each city that has filed a report containing the information <br />prescribed by subdivision (c) of Section 2152 of the California Streets and Highways Code, and that had <br />expenditures in excess of $5,000 during the preceding fiscal year for snow removal, an amount equal to one-half <br />the amount of its expenditures for snow removal in excess of $5,000 during such fiscal year. The balance of such <br />sum is allocated to each city in the proportion that the total population of the city bears to the total population of <br />all cities in the State. <br />For purposes of the foregoing statutory apportionment of per gallon gas taxes, the population of each city <br />is determined for that city by the last federal decennial or special census, or by a subsequent census validated by <br />the Demographic Research Unit of the State Department of Finance, or (if applicable) by the method described in <br />Section 11105.3 of the California Revenue and Taxation Code or Sections 2107.1 or 2107.2 of the California <br />Streets and Highways Code. Gas Tax Revenues received by the City pursuant to Sections 2104 and 2107.5 of the <br />California Streets and Highways Code are not included in the defmition of Gas Tax Revenues and are not pledged <br />as security for the Bonds. <br />554-97 <br />
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