HomeMy WebLinkAbout05-43 - Adopting General Fund Operating Reserve for FY 2005-06RESOLUTION NO. 05-43
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, DETERMINING AND
ADOPTING THE GENERAL FUND OPERATING RESERVE
FOR FISCAL YEAR 2005-2006, 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 Fiscal Year
2005-2006 as evidenced by the adoption of the Fiscal Year 2005-2006 budget on June
21,2005;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 Tide 2, Chapter V, Article 6 of the Costa Mesa
Municipal Code that the General Fund Operating Reserve be established at $14.125
million.
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 21" day of June, 2005.
ATTEST:
DeputfClty Clerk of fhe City of Costa Mesa Mayor of the City of Costa Mesa
APPROVED AS TO FORM
City Attorney
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. 05-43
was duly and regularly passed and adopted by the said City Council at a regular
meeting thereof held on the 215 day of June, 2005, by the following roll call vote:
AYES: Mansoor, Monahan, Bever, Dixon, Foley
NOES: None
ABSENT: None
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of
the City of Costa Mesa this 22nd day of June, 2005.
�J
Deputy City Clerk and ex -officio Clerk of
the City Council of the City of Costa Mesa