HomeMy WebLinkAbout98-61 - Adopting General Fund Operating Reserve for 1998-99404
RESOLUTION NO. 98-61
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF COSTA MESA, CALIFORNIA, DETERMINING AND
ADOPTING THE GENERAL FUND OPERATING RESERVE
FOR THE 1998-99 FISCAL YEAR, 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 adopted a financial plan for the 1998-99 fiscal
year as evidenced by the adoption of the 1998-99 budget on June 15, 1998; 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 dollars.
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 15th day of June, 1998.
Mayor of the City of Ca esa
ATTEST:
2"- -T-. F-0 -
Deputy City I
rk of the City of Costa Mesa
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. 98-61 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.
Deputy City -,Ark and ex -officio Clerk of
the City Cou c I of the City of Costa Mesa