HomeMy WebLinkAbout91-51 - Appropriations Limit for FY 1991-1992RESOLUTION NO. 91-51
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, DETERMINING AND ADOPTING
AN APPROPRIATIONS LIMIT FOR THE FISCAL YEAR OF
1991-92, 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, 1991; 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 the City 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 Propostion 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, 1991, is $69,591,386. 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
1991-92 Appropriations Limit based on this additional information.
PASSED AND ADOPTED this 17th day of June, 1991.
Mayor of he City of Costa Mesa
ATTTEEST:
�1lCLd�/ he
City Clerk of the City of Costa Me
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STATE OF CALIFORNIA)
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
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. 91-51 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 WHEREOF, I have hereunto set my hard and affixed the Seal
of the City of Costa Mesa this 18th day of June, 1991. J
Cilty Clerk and ex -officio Clerk the
City Council of the City of Cos Mesa
J
EXHIBIT "A"
Calculation of the City of Costa Mesa's 1991-92 Appropriations Limit.
STEP 1: Appropriations Limit for 1990-91 Budget $65,275,489
STEP 2: Adjust the 1990-91 Figure By:
(1) California Per Capita Income Growth
Inflationary Factor: (65,275,489 +
4.14% = 67,977,894)
(2) County Population Growth Factor:
(67,977,894 + 2.308 = 69,541,386)
APPROPRIATIONS LIMIT FOR 1991-92 BUDGET $69,541,386
RESOLUTION NO. 91-51
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