HomeMy WebLinkAbout01-39 - Adopting General Fund Operating Reserve for FY 2001-2002RESOLUTION NO. b 1 — 3 9
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, DETERMINING AND
ADOPTING THE GENERAL FUND OPERATING RESERVE
FOR THE 2001-2002 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 2001-2002
fiscal year as evidenced by the adoption of the 2001-2002 budget on June 18, 2001;
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 181h day of June, 2001.
ATTEST:
Deputy City Cl k of the City of Costa Mesa
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
Mayor of the City of Costa Mesa
APPROVED AS TO FORM
CITY ATT EY
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. O / —3 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.
T -
Deputy City lerk and ex -officio Clerk of
the City C ncil of the City of Costa Mesa