HomeMy WebLinkAbout91-50 - Appropriations Limit for FY 1990-1991I,fit u
RESOLUTION NO. 91-50
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, DETERMINING AND ADOPT-
ING AN APPROPRIATIONS LIMIT FOR THE FISCAL YEAR
OF 1990-91, 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 Propositon 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, 1990; 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 Orange Coast Daily Pilot, a news-
paper of general circulation; and
WHEREAS, the growth in non-residential 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 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, 1990, is $65,275,489. 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 1990-91
appropriations limit based on this additional information.
PASSED AND ADOPTED this 17th day of June, 1991.
Mayor o the City of Cost
ATTEST: //
A
City Clerk of the City of Costa 7
a
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
'457
I, EILEEN P. PHINNEY, City Clerk and ex -officio Clerk of the City
Council of the City of Costa Mesa, hereby certify that the above and fore-
going Resolution No. 91-50 was duly and regularly passed and adopted by the
said City Council at a regular meeting thereof, held on the 17th day of
///■{{��� June, 1991.
IN WITNESS THEREOF, I have hereunto set my hand and affixed the Seal of
the city of Costa Mesa this 18th day of June, 1991.
J
CLty Clerk and ex -officio Clerk of e
City Council of the City of Costa Vesa
i Abs
EXHIBIT "A"
Recalculation of the City of Costa Mesa's 1990-91 Appropriations Limit according to Proposition
111 regulations:
STEP 1: Appropriations Limit for 1986-87 Budget $ 50,835,730
STEP 2: Adjust the 1986-87 Appropriations Limit By:
1) California Per Capita Income Growth Inflationary
Factor. (50,835,730 + 3.47'% = 52,599,730)
2) County Population Growth Factor.
(52,599,730 + 1.99% = 53,646,465)
Intermediary Figure for 1987-88 $ 53,646,465
STEP 3: Adjust the Intermediary 1987-88 Figure By:
1) California Per Capita Income Growth Inflationary
Factor. (53,646,465 + 4.66% = 56,146,390)
2) City Population Growth Factor.
(56,146,390 + 2.08% = 57,314,235)
Intermediary Figure for 1988-89 $ 57,314,235
STEP 4: Adjust the Intermediary 1988-89 Figure By:
1) California Per Capita Income Growth Inflationary
Factor: (57,314,235 + 5.19% = 60,288,844)
2) County Population Growth Factor.
(60,288,844 + 1.85% = 61,404,188)
Intermediary Figure for 1989-90 $ 61,404,188
STEP 5: Adjust the Intermediary 1989-90 Figure By:
1) California Per Capita Income Growth Inflationary
Factor. (61,404,188 + 4.21% = 63,989,304)
2) County Population Growth Factor.
(63,989,304 + 2.01% = 65,275,489)
RECALCULATED 1990-91 APPROPRIATIONS LIMIT $65,275,489
Resolution No. 91-50 J