HomeMy WebLinkAbout08-46 - Determining and Adopting the General Fund Operating Reserve for FY 2008-2009RESOLUTION NO. 08-46
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF COSTA MESA, CALIFORNIA, DETERMINING -AND
ADOPTING THE GENERAL FUND OPERATING
RESERVE FOR FISCAL YEAR 2008-2009, 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.
2008-2009; 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 17th day of June, 2008.
Eric R. Bever, Mayor
ATTEST: APPROVED AS TO FORM:
Q�
Juli Folcik, Ci y Clerk Ki berly Hall Barlow, City Attorney.
FA
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. 08=46 and was duly
passed and adopted by the City Council of the City of Costa Mesa at a regular meeting
held on the 17th day of June, 2008, by the following roll call vote, to wit:
AYES:
COUNCIL MEMBERS:
MANSOOR, DIXON, FOLEY, LEECE
NOES:
COUNCIL MEMBERS:
NONE
ABSENT:
COUNCIL MEMBERS:
BEVER
IN WITNESS WHEREOF, I have hereby set my hand and affixed the seal of the
City of Costa Mesa this 18th day of June, 2008.
(SEAL)
JUL FOLCIK, CITY CLERK
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