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BE IT FURTHER RESOLVED, that the City Council of the City <br />of Colton does hereby determine, resolve, order and find as <br />1 follows: <br />2 1. The annexation of the territory hereinafter described <br />3 to the City of Colton is hereby approved and said territory is <br />4 hereby annexed to the City of Colton. <br />5 2. The proposed annexation will benefit from the <br />6 services available through the City of Colton. <br />7 3. The County Assessor has confirmed that the study area <br />is publicly owned land and no estimate of market value is <br />8 <br />available since the area is exempt from property tax. <br />9 <br />4. The City and County have negotiated the transfer of ad <br />10 valorem taxes as required by this proposal. Copies of the <br />11 resolutions adopted by the City Council of the City of Colton <br />12 and the San Bernardino County Board of Supervisors are on file <br />13 in the LAFCO office outlining there will be no exchange of <br />14 revenues since the property is tax exempt. <br />15 5. That said territory, the annexation of which to the <br />16 City of Colton is herein approved, is all that territory <br />17 situated in the County of San Bernardino, State of California, <br />18 more particularly described in Exhibit "A" attached. <br />19 6. That the regular County assessment roll will be used <br />20 for tax purposes. <br />21 7. That the affected property will not be taxed for any <br />22 existing bonded indebtedness and/or contractual obligations. <br />23 8. That the City Clerk is directed to certify to the <br />24 passage of this resolution, to file a copy of said resolution <br />25 with the Executive Officer of the Local Agency Formation <br />Commission of the County of San Bernardino and to transmit a <br />26 <br />remittance to cover the fees required by Government Code <br />27 <br />Section 54902.5 to the said Executive Officer. <br />28 <br />3 <br />