HomeMy WebLinkAbout98-58 - Adopting an Appropriations Limit for fiscal year 1998-991
RESOLUTION NO. 98-58
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF COSTA MESA, CALIFORNIA, DETERMINING AND
ADOPTING AN APPROPRIATIONS LIMIT FOR THE
1998-99 FISCAL YEAR, IN ACCORDANCE WITH
ARTICLE XIII -B OF THE CONSTITUTION OF THE
STATE OF CALIFORNIA, AS AMENDED BY
PROPOSITION 111 AND SENATE BILL 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 1 1 1 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, 1998; 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 Newport Beach -Costa Mesa Daily Pilot, a newspaper of general
circulation; and
WHEREAS, the growth in nonresidential 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 Proposition 111 and SENATE BILL 88, and as set forth in detail in the
attached Exhibit "A", that the appropriations limit for the fiscal year beginning
July 1, 1998, is $96,514,130.00. 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 1998-99 Appropriations Limit based on this additional
information.
PASSED AND ADOPTED this 15th day of June, L998.
ATTEST:
T
Deputy City 6
lerk of the City of Costa Mesa
Mayor of the City of Wo Mesa
39'7
STATE OF CALIFORNIA ►
COUNTY OF ORANGE ► ss
CITY OF COSTA MESA ►
I, MARY T. ELLIOTT, Deputy City Clerk and ex -officio Clerk of the City Council
of the City of Costa Mesa, hereby certify that the above and foregoing
Resolution No. 98-58 was duly and regularly passed and adopted by the said City
Council at a regular meeting thereof held on the 15th day of June, 1998.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of
the City of Costa Mesa this 16th day of June, 1998.
T,
Deputy City 4lerk and ex -officio Clerk of
the City CoLMcil of the City of Costa Mesa
1
1
L I
1
The Appropriations Limit Cor the 1997-98 fiscal year was established at $91,128,323 last
June 16, 1997. The Appropriations Limit is calculated using the greater of: a) Growth in
California per capita income, or: b) Growth in non-residential construction in the City of
Costa Mesa: and the greater of: a) Growth in Costa Mesa population, or; b) Growth in
Orange County population. The Appropriations Limit for the 1998-99 fiscal year has
been calculated to be 496,514,130 utilizing the following growth components most
advantageous to the City of Costa Mesa.
A. Growth in California per capita income 4.15%
13. Growth in Orange County population 1.69%
1998-99 Appropriations Limit $96,514,130
1998-99 Estimate revenue subject to limitations 53,796,129
Amount below calculated limit for 1998-99 $42,718,001 or 44.2%
EXHIBIT "A"
Exhibit "A"
Resolution No. 98-58
Page 1 of 1
f7-11