HomeMy WebLinkAbout92-67 - Adopting General Fund Operating Reserve for 1992-9316.0
RESOLUTION NO. 92-67
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF COSTA MESA, CALIFORNIA, DETERMINING AND
ADOPTING THE GENERAL FUND OPERATING RESERVE
FOR FISCAL YEAR 1992-93 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 Fiscal Year 1992-93 as
evidenced by adoption of the 1992-93 budget on June 15, 1992; 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 14.7 million
dollars.
BE IT FURTHER RESOLVED that the General Fund Operating Reserve may be utilized
only in accordance with those provisions so authorized by Ordinance No. 91-20.
PASSED AND ADOPTED this 15th day of June, 1992.
ATTEST:
City Clerk of the City o*Costa Mesa
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
Mayor e the 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 foregoing Resolution No. 92-67 was duly and
regularly passed and adopted by the said City Council at a regular meeting thereof held on the
15th day of June, 1992.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of the City
of Costa Mesa this 16th day of June, 1992.
t 5,14''do
ity Clerk and ex -officio Clerk of t
City Council of the City of Costa Me
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