HomeMy WebLinkAbout95-55 - Adopting the General Fund Operating Reserve for Fiscal Year 1995-96RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, DETERMINING AND ADOPT-
ING THE GENERAL FUND OPERATING RESERVE FOR THE
1995-96 FISCAL YEAR, IN ACCORDANCE WITH TITLE 2,
CHAPTER V, ARTICLE 6, OF THE COSTA MESA
MUNICIPAL CODE.
THE CITY COUNCIL OF THE CITY OF COSTA MESA DOES HEREBY RESOLVE
AS FOLLOWS:
THAT, WHEREAS, Title 2 of the Costa Mesa Municipal Code was amended by
Ordinance No. 91-20 to include Chapter V, Article 6; and
WHEREAS, the City Council has adopted a financial plan for the 1995-96 fiscal year as
evidenced by the adoption of the 1995-96 budget on June 19, 1995; and
WHEREAS, the City Council finds that it is in the interest of the public health, safety
and welfare of the City to establish a General Fund Operating Reserve as part of a
comprehensive financial plan for the City;
NOW, THEREFORE, BE IT RESOLVED that the City of Costa Mesa, California, has
determined in accordance with Title 2, Chapter V, Article 6 of the Costa Mesa Municipal Code
that the General Fund Operating Reserve be established at $14.12 million dollars.
BE IT FINALLY RESOLVED that the General Fund Operating Reserve may be utilized
only in accordance with those provisions so authorized by Ordinance 91-20.
PASSED AND ADOPTED this 19th day of June, 1995.
ATTEST:
Deputy Ci Clerk of the City of Costa Mesa
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
Mayo f the City of Costa Mesa
NP�OVED AS TO FORM
CITY ATTORNEY
I, MARY T. ELLIOTT, Deputy City Clerk and ex -officio Clerk of the City Council of
the City of Costa Mesa, hereby certify that the above and foregoing Resolution No. 9S 5S
was duly and regularly passed and adopted by the said City Council at a regular meeting thereof
held on the 19th day of June, 1995.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of the City
of Costa Mesa this 20th day of June, 1995.
Deputy C' Clerk and ex -officio Clerk of
the City ouncil of the City of Costa Mesa