HomeMy WebLinkAbout91-60 - General Fund Operating Reserve for FY 1991-92ei
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RESOLUTION NO. 91-60
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, DETERMINING AND ADOPTING
THE GENERAL FUND OPERATING RESERVE FOR THE 1991-
92 FISCAL YEAR, IN ACCORDANCE WITH TITLE 2,
CHAPTER V, ARTICLE 6, OF THE COSTA MESA MUNICIPAL
OODE.
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 1991-92
fiscal year as evidenced by adopting the 1991-92 budget on June 17, 1991;
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 Council of 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 16.0 million dollars.
BE IT FINALLY RESOLVED that the General Fund Operating Reserve may
be utilized only in accordance with those provisions so authorized by Ordi-
nance No. 91-20.
y PASSED AND ADOPTED this 15th day of July, 1991.
Mayor o the City of Costa Mesa
ATTEST:
City Clerk of the City of Costa Mja
STATE OF CALIFOINIA )
COUNTY OF ORANGE ) as
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. 91-60 was duly and regularly passed and adopted by the
said City Council at a regular meeting thereof, held on the 15th day of
July, 1991.
IN WITNESS WHEREOF I have hereunto set my hand and affixed the Seal of
the City of Costa Mesa this 16th day of July, 1991.
City Clerk and ex -officio Clerk o the
City Council of the City of Costa esa