HomeMy WebLinkAbout96-61 - Adopting the General Fund Operating Reserve for FY 1996-97RESOLUTION NO. 96 - !o I
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF COSTA MESA, CALIFORNIA, DETERMINING
AND ADOPTING THE GENERAL FUND OPERATING
RESERVE FOR THE 1996-97 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:
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 1996-97 fiscal year as
evidenced by the adoption of the 1996-97 budget on June 17, 1996; 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 $14.125 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 17th day of June, 1996.
ATTEST:
Deputy City Clerk of the City of Costa Mesa
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
Mao of the City of Costa Mesa
ROVED AS TO FORM
X .e &dJ
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. 96 - 6 (
was duly and regularly passed and adopted by the said City Council at a regular meeting thereof
held on the 17th'day of June, 1996.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of the City
of Costa Mesa this 18th day of June, 1996.
T.
Deputy Ci Clerk and ex -officio Clerk of
the City Co ncil of the City of Costa Mesa