Loading...
HomeMy WebLinkAbout6775 RESOLUTION NO. 6775 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, ESTABLISHING AN APPROPRIATIONS LIMIT FOR FISCAL YEAR 2011 -2012 PURSUANT TO ARTICLE XIII -B OF THE CALIFORNIA CONSTITUTION WHEREAS, Article XIII -B of the Constitution of the State of California imposes upon the City of Arcadia, as well as all cities, the obligation to limit each fiscal year's appropriations as those in fiscal year 1978 -79 as adjusted for subsequent inflation and population changes; and WHEREAS, the City of Arcadia has opted to use, as the inflation adjustment factor, the percentage change in California per capita personal income in lieu of the growth in the non - residential assessed valuation; and WHEREAS, at the time the appropriations limit calculations were prepared for purposes of this Resolution, the data necessary to calculate the increase in the non- residential assessed valuation was generally not available from the County Assessor; and WHEREAS, there exists a possible need to adjust the appropriations limit once the assessment data is available, and consequently this Resolution is being adopted on a provisional basis; and WHEREAS, the City of Arcadia has opted to use, as the population adjustment factor, the growth in the population of the City of Arcadia in lieu of the growth in the population of the County of Los Angeles; and WHEREAS, for purposes of setting its appropriation limit for the next fiscal year, the City has made available to the public the documentation used in the determination of said appropriation limit. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, DOES HEREBY FIND, DETERMINE AND RESOLVE AS FOLLOWS: SECTION 1. The appropriation limit for fiscal year 2011 -2012 for the City of Arcadia shall be and is hereby set in the amount of $65,977,512. SECTION 2. The City Clerk shall certify to the adoption of this Resolution. Passed, approved and adopted this 7th day of June, 2011. i • ✓s:, • M/or of 7 e Cit of Arcadia ATTEST: Ae _ — City Clerk APPROVED AS TO FORM: • S-64,1„ V 6-eA,w_e Stephen P. Deitsch City Attorney 2 6775 STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) SS: CITY OF ARCADIA ) I, JAMES H. BARROWS, City Clerk of the City of Arcadia, hereby certifies that the foregoing Resolution No. 6775 was passed and adopted by the City Council of the City of Arcadia, signed by the Mayor and attested to by the City Clerk at a regular meeting of said Council held on the 7th day of June, 2011 and that said Resolution was adopted by the following vote, to wit: AYES: Council Members Amundson, Chandler, Harbicht, Segal and Kovacic NOES: None ABSENT: None ity Clerk of the City of Arcadia 3 6775