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RESOLUTION NO. R-31-93 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON <br />PROTESTING THE STATE LEGISLATURE'S SCHEME SET FORTH IN <br />SENATE BILLS 617 AND 844 WHICH REDIRECTS LOCAL CITY AND <br />REDEVELOPMENT PROPERTY TAX REVENUES TO FUND <br />CONSTITUTIONALLY MANDATED OBLIGATIONS OF THE STATE <br />AND DIRECTING THAT CERTAIN ACTIONS BE TAKEN WITH <br />REGARD THERETO <br />WHEREAS on September 3, 1992, the California State Legislature approved Senate <br />Bills 617 and 844 as urgency statutes and, on September 14, 1992, the Governor approved <br />Senate Bills 617 and 844; and <br />WHEREAS, the purpose of Senate Bills 617 and 844 is to shift $1.3 billion in local <br />property tax revenues from cities, counties, special districts, and,redevelopment agencies to <br />a newly created Educational Revenue Augmentation Fund ("ERAF") so that the State could <br />meet its constitutionally imposed obligation to fund public education; and <br />WHEREAS, Senate Bills 617 and 844 will reduce the property tax increment revenues <br />available to California redevelopment agencies in 1992-93 by $205 million; and <br />WHEREAS, with regard to the City of Colton ("City") Senate Bill 617 requires the <br />County of San Bernardino to withhold $227,527.00 in local property tax revenue in 1992-93, <br />which otherwise would have been available for purposes of local redevelopment activities <br />within the community; and <br />WHEREAS, with regard to the Redevelopment Agency of the City of Colton ("Agency"), <br />Senate Bills 617 and 844 require the Agency to transfer to the County of San Bernardino <br />