HomeMy WebLinkAbout01-36 - Adopting an Appropriations Limit for FY 2001-2002RESOLUTION NO. 0/---76
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, DETERMINING AND
ADOPTING AN APPROPRIATIONS LIMIT FOR THE 2001-
2002 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 111
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, 2001; 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, 2001, is $120,330,536.00. 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 2001-2002 Appropriations Limit based on this additional
information.
PASSED AND ADOPTED this 18th day of June, 2001.
ATTEST:
Deputy City rk of the City of Costa Mesa
Mayor of the City of Costa Mesa
APPROVED AS TO FORM
11" CITY AT . NEY
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. !/ 33 was duly and regularly passed and adopted by the said City
Council at a special meeting thereof held on the 18th day of June, 2001.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of
the City of Costa Mesa this 19th day of June, 2001.
— L:., 7- �L�
Deputy C_ i Clerk and ex -officio Clerk of
the City C ncil of the City of Costa Mesa
EXHIBIT "A"
Calculation of the City of Costa Mesa's Fiscal Year 2001-02 Appropriations Limit:
STEP 1: Appropriations Limit for Fiscal Year 2000-2001 $109,393,421
STEP 2: Adjust the 2000-2001 Limit By:
1) California Per Capita Income Growth Inflationary
Factor:
($109,393,421 x 7.82% = $117,947,986)
Plus
2) County Population Growth Factor:
($117,947,986 x 2.02% = $120,330,536)
APPROPRIATIONS LIMIT FOR FISCAL YEAR 2001-02 $120,330,536