HomeMy WebLinkAbout95-52 - Determining and Adopting Appropriations Limit for 1995-96 Fiscal YearRESOLUTION NO. 95 - 6;-
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF COSTA MESA, CALIFORNIA, DETERMINING AND
ADOPTING AN APPROPRIATIONS LIMIT FOR THE 1995-
96 FISCAL YEAR, IN ACCORDANCE WITH ARTICLE
XIII -B OF THE CONSTITUTION OF THE STATE OF
CALIFORNIA, AS AMENDED BY PROPOSITION 111
AND SB 88.
THE CITY COUNCIL OF THE CITY OF COSTA MESA DOES HEREBY RESOLVE AS
FOLLOWS:
WHEREAS, Article XIII -B was added to the Constitution of the State of California at
a general election held on November 6, 1979; and
WHEREAS, Article XIII -B was subsequently modified by Proposition 111 and SB 88
(Chapter 60/90) at a general election held on June 5, 1990; and
WHEREAS, in accordance with Section 7910 of the Government Code of the State of
California, an annual appropriations limit must be established for this City effective for the
Fiscal year beginning July 1, 1995; and
WHEREAS, in accordance with Section 7910 of the Government Code of the State of
California, fifteen days prior to the date of adoption of this resolution, documentation used in
the determination of the appropriations limit has been made available to the public in the office
of the Director of Finance; and
WHEREAS, Public Notice of this resolution and the availability of documentation used
in the determination of the appropriations limit has been accomplished by advertising in the
Newport Beach -Costa Mesa Daily Pilot, a newspaper of general circulation; and
WHEREAS, . the growth in nonresidential assessed valuation due to new construction
within the City is not known at this time.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Costa
Mesa, California, has determined that in accordance with Article XIII -B of the Constitution and
Section 7902 of the Government Code of the State of California as modified by Proposition 111
and SB 88, and as set forth in detail in the attached Exhibit "A", that the appropriations limit
for the fiscal year beginning July 1, 1995, is $81,442,360. When the growth in non-residential
assessed valuation due to new construction within the City becomes known, the City reserves
the right to reestablish its 1995-96 Appropriations Limit based on this additional information.
PASSED AND ADOPTED this 19th day of June, 1995.
ATTEST:
A�_
Deputy C' Clerk of the City of Costa Mesa MaM of the City of Costa Mesa
STATE OF CALIFORNIA ) APP OVED AS TO FORM
COUNTY OF ORANGE ) ss k�Q 6' �� f►
CITY OF COSTA MESA ) 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. 7-5z.
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.
1.
Deputy Ci Clerk and ex -officio Clerk of
the City C ncil of the City of Costa Mesa
EXHIBIT "A"
Calculation of the City of Costa Mesa's 1995-96 Appropriations Limit.
STEP 1: Appropriations Limit for 1994-95 Budget $ 76,456,492
STEP 2: Adjust the 1994-95 Figure By:
1) California Per Capita Income Growth Inflationary
Factor: (76,456,492 x 4.72% = 80,065,238)
Plus
2) City Population Growth Factor:
(80,065,238 x 1.72% = 81,442,360)
APPROPRIATIONS LIMIT FOR 1995-96 BUDGET $ 81,442,360