HomeMy WebLinkAbout02-45 - Adopting the General Fund Operating Reserve for FY 2002-2003RESOLUTION NO. a.•
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, DETERMINING AND
ADOPTING THE GENERAL FUND OPERATING RESERVE
FOR THE 2002-2003 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 2002-2003 fiscal
year as evidenced by the adoption of the 2002-2003 budget on June 17, 2002; 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 17th day of June, 2C0?*
ATTEST:
i" -a'
Deputy City Cferk of thity of Costa 9a
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
Mayor of the City of Costa Mesa
APPROVED AS TO FORM:
o' —'! 5 �")
- 7, ;; � �City Attorney
I, RUTH DELANEY, Acting Deputy City Clerk and ex -officio Clerk of the City
Council of the City Qf..Costa Mesa, hereby certify that the above and foregoing
Resolution No. —�was duly and regularly t�assed and adopted by the said City
Council at a special meeting thereof held on the 17 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.
Acting` Deputy City Clerk(
x-officio Clerk of
the City Council o tho City of Costa Mesa