HomeMy WebLinkAbout03-37 - Adopting an Appropriations Limit for FY 2003-04RESOLUTION NO. 03-37
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, DETERMINING AND
ADOPTING AN APPROPRIATIONS LIMIT FOR THE 2003-
04 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, 2003; 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 non-residential 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 has determined that in accordance with Article III -B of the Constitution and
Section 7902 of the Government Code of the State of California as modified by
Proposition 111 and SB 88, and as set forth in detail in the attached Exhibit "A", that the
appropriations limit for fiscal year beginning July 1, 2003, is set at $126,092,564.00.
When the growth in non-residential assessed valuation due to new construction with the
City becomes known, the City reserves the right to re-establish its 2003-04
Appropriations Limit based on this additional information.
PASSED AND ADOPTED this 16" day of June, 2003.
ATT T:
Deputy ity Clerk of the City of Costa Mesa Mayor of t e City of Costa Mesa
APPROVED AS TO FORM
'Ill��l� •
STATE OF CALIFORNIA)
COUNTY OF ORANGE ) as
CITY OF COSTA MESA )
I, JULIE FOLCIK, 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. n3-37 was duly and regularly passed and adopted by the said City Council at
a regular meeting thereof held on the 16" day of May, 2003, by the following roll call
vote:
AYES: Monahan, Steel, Cowan, Mansoor, Scheafer
NOES: Mone
ABSENT: Mone
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of
the City of Costa Mesa this 17" day of June, 2003.
Deputy ity Clerk and ex -officio Clerk of
the City Council of the City of Costa Mesa
EXMIT "An
Calculation of the City of Costa Mesa's fiscal year 2003-04 Appropriations Limit.
STEP L Appropriations Limit for fiscal year 2002-03 S 121,245,048
STEP 2: Multiply the fiscal year 2002-03 Appropriations Limit
by the cumulative growth factors for changes in the
California per capita personal income and the population
Change for the County of Orange 1.0400*
APPROPRIATIONS LIMIT FOR FISCAL YEAR 2003-04 C 12fi 092 564
* CALCULATION OF CUMULATIVE GROWTH FACTORS:
Personal Income Factor 1.0231
Orange County Population Change 1.0165
Costa Mesa Population Change 1.0102
(2.31 x 1.0165 = 1.0400)