Loading...
HomeMy WebLinkAbout5921 RESOLUTION NO. 5921 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA ESTABLISHING AN APPROPRIATIONS LIMIT FOR THE FISCAL YEAR 1996-97 PURSUANT TO ARTICLE XIII B OF THE CALIFORNIA CONSTITUTION WHEREAS, Article XIII B of the Constitution of the Stale of California imposes upon this City, the obligation to limit each fiscal year's appropriations of the proceeds of taxes to the amount of such appropriations in fiscal year 1978-79 as adjusted for inflation and population; and WHEREAS, the City of Arcadia has opted to use as the inflation adjustment factor, the percentage change in California per capital personal income in lieu of the growth in the non-residential assessed valuation due to new construction within the City; and WHEREAS, at the time the appropriations limit calculations were prepared, Ihe dala necessary to calculate the increase in the non-residential assessed valualion was generally not available from the Counly 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 10 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, pursuant to said Article XIIIB of said California Conslitulion, the City is required to set its appropriation limit for each fiscal year, and 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 RESOLVE AS FOLLOWS: SECTION 1. That the appropriation limit for Fiscal Year 1996-97 shall be and is hereby amended to be set in the amount of $35,021 ,230; SECTION 2. That the City Clerk shall certify to the adoplion of this Resolution. Passed, approved and adopted this 18th of June 19 6. ~o:ti ttoTh-';-~ City Attorney STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) SS: CITY OF ARCADIA ) I, June Alford, City Clerk of the City of Arcadia, hereby certify Ihat the foregoing Resolution No. 5921 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 on the 18th day of June, 1996 and that said Resolution was adopted by following vote, to wit: AYES: Councilmember Chang, Harbicht, Young and Kuhn NOES: None ABSENT: Coundlmember Lojeski