HomeMy WebLinkAbout03-38 - Adopting the General Fund Operting Reserve for FY 2003-04RESOLUTION NO. 03-38
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, DETERMINING AND
ADOPTING THE GENERAL FUND OPERATING RESERVE
FOR THE 2003-2004 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 2003-2004 fiscal
year as evidenced by the adoption of the 2003-2004 budget on June 16, 2003; 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 16" day of June, 2003.
ATTEST:
Deputy ity Clerk of the City of Costa Mesa
STATE OF CALIFORNIA)
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
ec,
Mayor bT the/City of Costa Mesa
APPROVED AS TO FORM
City Attorney
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. 03-38 was duly and regularly passed and adopted by the said City Council at
a regular meeting thereof held on the 16m day of June, 2003, by the following roll call
vote:
AYES: Monahan, Steel, Cowanil 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.
Depu)ty City Clerk and ex -officio Clerk of
the City Council of the City of Costa Mesa