HomeMy WebLinkAbout6575RESOLUTION NO. 6575
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ARCADIA, CALIFORNIA, ESTABLISHING AN
APPROPRIATIONS LIMIT FOR FISCAL YEAR 2007-2008
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 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 due to new construction within the
City; and
WHEREAS, at the time the appropriations limit calculations were prepared,
the date 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 date 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, pursuant to Article XIII-B of the California Constitution, 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 FIND, DETERMINE AND
RESOLVE AS FOLLOWS:
SECTION 1. The appropriation limit for fiscal year 2007-2008 for the
City of Arcadia shall be and is hereby set in the amount of $61,659,933
SECTION 2. The City Clerk shall certify to the adoption of this
Resolution.
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Passed, approved and adopted this 19th day of June , 2007.
/i
Mayor of the Ci of A adia
ATTEST:
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City Clerk
APPROVED AS TO FORM:
City Attorney
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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. 6575 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 19th day of June, 2007 and that said
Resolution was adopted by the following vote, to wit:
AYES: Council Member Amundson, Chandler, Harbicht, Wuo and Segal
NOES: None
ABSENT: None
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ity Clerk of the City of Arcadia
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