HomeMy WebLinkAbout07-58 - Determining and Adopting General Fund Operating Reserve for FY 2007-2008RESOLUTION NO. 07- 58
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF COSTA MESA, CALIFORNIA, DETERMINING AND
ADOPTING THE GENERAL FUND OPERATING
RESERVE FOR FISCAL YEAR 2007-2008, 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 received the Proposed Budget for Fiscal Year
2007-2008; 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.
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, 2007.
I- /� I'vl___._
Allan R. Mansoor, Mayor
ATTEST:
J
Juli of k, City Clerk
APPROVED AS TO FORM:
Kimberly all Barlow, City Attorney
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
I, JULIE FOLCIK, City Clerk of the City of Costa Mesa, DO HEREBY CERTIFY
that the above and foregoing is the original of Resolution No. 07-58 and was duly
passed and adopted by the City Council of the City of Costa Mesa at a regular meeting
held on the 19th day of June, 2007, by the following roll call vote, to wit:
AYES: COUNCIL MEMBERS: MANSOOR, BEVER, DIXON, FOLEY, LEECE
NOES: COUNCIL MEMBERS: NONE
ABSENT: COUNCIL MEMBERS: NONE
IN WITNESS WHEREOF, I have hereby set my hand and affixed the seal of the
City of Costa Mesa this 20th day of June, 2007.
JUI.A FOLCIK, CITY CLERK
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