HomeMy WebLinkAbout97-52 - Adopting an Appropriations Limit for 1997-98 Fiscal YearRESOLUTION NO. 9 -
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF COSTA MESA, CALIFORNIA, DETERMINING AND
ADOPTING AN APPROPRIATIONS LIMIT FOR THE
1997-98 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, 1997; 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 -13 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, 1997,
is $91,128,323.00. 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 1997-98 Appropriations Limit based on this additional information.
PASSED AND ADOPTED this 16th day of June, 1997.
ATTEST:
T.
Deputy Cit Clerk of the City of Costa Mesa Mayor of the City of W
Mesa
STATE OF CALIFORNIA )PROVED AS TO FORM
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA ) r,ITY 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. 97-5 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 Ci Clerk and ex -officio Clerk of
the City C6uncil of the City of Costa Mesa
EXHIBIT "A"
Calculation of the City of Costa Mesa's 1997-98 Appropriations Limit.
STEP 1: Appropriations Limit for 1996-97 Budget $ 86,140,798
STEP 2: Adjust the 1996-97 Figure By:
1) California Per Capita Income Growth Inflationary
Factor: (86,140,798 x 4.67 = 90,163,573)
Plus
2) County Population Growth Factor:
(90,163,573 x 1.07% = 91,128,323)
APPROPRIATIONS LIMIT FOR 1997-98 BUDGET $ 91,128,323