HomeMy WebLinkAbout06-54 - Determining and Adopting General Fund Operating Reserve for FY 2006-07RESOLUTION NO. 06-54
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, DETERMINING AND
ADOPTING THE GENERAL FUND OPERATING RESERVE
FOR FISCAL YEAR 2006-2007, 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 received the Proposed Budget for Fiscal Year
2006-2007; 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.
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 20" day of June, 2006.
Mayor of the City of Costa Mesa
ATTEST:
Clerk of the City of Costa Mesa
APPROVED AS TO FORM:
City' ttomey
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
I, JULIE FOLCIK, City Clerk of the City of Costa Mesa, DO HEREBY
CERTIFY that foregoing is the original of Resolution No. 06-54 and was duly
passed and adopted b� the City Council of the City of Costa Mesa at a regular
meeting held on the 20 day of June, 2006, by the following roll call vote, to wit:
AYES: COUNCIL MEMBERS: Mansoor, Bever, Dixon, Foley, Monahan.
NOES: COUNCIL MEMBERS: None.
ABSENT: COUNCIL MEMBERS: None.
IN WITNESS WHEREOF, I have hereby set my hand and affixed the seal
of the City of Costa Mesa this 21" day of June, 2006.
,4ULIE FOL IK, CITY CLERK
(SEAL)