HomeMy WebLinkAbout97-55 - General Fund Operating Reserve for FY 1997-98RESOLUTION NO. 97- 55'
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF COSTA MESA, CALIFORNIA, DETERMINING AND
ADOPTING THE GENERAL FUND OPERATING RESERVE
FOR THE 1997-98 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 1997-98 fiscal
year as evidenced by the adoption of the 1997-98 budget on June 16, 1997; 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 16th day of June, 1997.
ATTEST:
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L-j'_1zzr-
Deputy Cit lerk of the City of Costa Mesa
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
Mr-
Mayor
of the City •
APPROVED 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. -55 was duly and regularly passed and adopted by the said City
Council at a regular meeting thereof held on the 16th day of June, 1997.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of
the City of Costa Mesa this 17th day of June, 1997.
Deputy Cit Jerk and ex -officio Clerk of
the City Cobficil of the City of Costa Mesa