HomeMy WebLinkAbout02-43 - Adopting an Appropriations Limit for FY 2002-03, as Amended by Proposition 111 and Senate Bill 88RESOLUTION N0. ba -L-)3
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, DETERMINING AND
ADOPTING AN APPROPRIATIONS LIMIT FOR THE 2002-
2003 FISCAL YEAR, IN ACCORDANCE WITH ARTICLE
XIII -13 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
�j3e]jJUi]��l
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, 2002; 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 -13 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, 2002, is $121,245,048.00. 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 2002-2003 Appropriations Limit based on this additional
information.
PASSED AND ADOPTED this 17'" day of June,
FWAV0r_0�I
tau-, 4)1huLW
uty City berk oft by of Cg t -e -
iviayor or ine Uity or costa iviesa
APPROVED AS TO FORM
CITY ATT RNIEY .
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
I, RUTH DELANEY, Acting 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. �-3 was duly and regularly passed and adopted by the
said City Council at a special meeting thereof held on the 17th day of June, 2002.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of
the City of Costa Mesa this 18th day of June, 2002.
C.C,u,c
D puty City Clerk x -officio k f
the City Council ofe City of Cos M sa
EXHIBIT "A"
Calculation of the City of Costa Mesa's fiscal year 2001-2002 Appropriations Limit.
STEP 1: Appropriations Limit for fiscal year 2001-2002 $ 120,330,536
STEP 2: Multiply the fiscal year 2001-2002 Appropria-
tions Limit by the cumulative growth factors
for changes in the California per capita personal
income and the population change for Orange
County 1.0076*
APPROPRIATIONS LIMIT FOR FISCAL YEAR 2002-2003 t 121_,245,048
W•7e11Uflq WITA 9 M ► • ► : • • ;
Personal Income Factor 0.9873
Orange County Population Change 1.0206
Costa Mesa Population Change 1.0134
(0.9873 x 1.0206 = 1.0076)