CC - 2008-50 - Adopting Corrected Appropriation Limit For The 2007-08 Fiscal Year•
RESOLUTION NO. 2008-50
0
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEMEAD
ADOPTING A CORRECTED APPROPRIATION LIMIT FOR THE 2007-08
FISCAL YEAR
WHEREAS, Article XIII-B of the Constitution of the State of California
provides that total annual appropriations subject to limitation of the City shall not
exceed the appropriations limit of the City for the prior year as adjusted for
annual adjustment factors; and
WHEREAS, Article XIII-B was modified in June, 1990 by the approval of
Proposition 111 and SB 88 (Chapter 60/90) which revised the annual adjustment
factors to be applied to the 1986-87 Appropriation Limit and each year thereafter;
and
WHEREAS, the decision as to which factors: a) either the California Per
Capita Income or the percentage change in the local assessment roll due to local
non-residential construction; b) either the change in population in the City or
County; must be done by a recorded vote of the City Council; and
WHEREAS, the City Council wishes to set an appropriation limitation for
the 2007-08 Fiscal Year on those appropriations subject to limitation under
Article XIII-B; and
WHEREAS, in resolution no. 2007-18 Rosemead's Appropriation Limit
was reported as $37,244,352 and it should be $33,405,778; and,
WHEREAS, the required computation to determine the City of
Rosemead's Appropriation Limit for fiscal year 2007-08 has been performed by
the Finance Department and is on file with the Finance Department, and
available for public review,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
ROSEMEAD DOES RESOLVE AS FOLLOWS:
1: The City of Rosemead Appropriation Limit for Fiscal Year 2007-08 is
$33,405,778.
2. The City Council selects the California per Capita Personal Income
and the greater of the county or city population increase as allowable
inflation factors.
This Appropriation Limit is subject to amendments, deletions and
additions, which may be provided pursuant to Article XIIIB of the
California Constitution and legislation implementing thereof. This
limitation may be amended from time to time to reflect new or changed
information as such is encountered.
PASSED, APPROVED and ADOPTED the 22"d day of July, 2008
ATTEST:
vt Ain,- 01 Gloria Molle a, City Clerk
APPROVED AS TO FORM;
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS.
CITY OF ROSEMEAD )
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1, Gloria Molleda, City Clerk of the City of Rosemead, do hereby certify that the
foregoing Resolution No. 2008-50 being:
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEMEAD
ADOPTING A CORRECTED APPROPRIATION LIMIT FOR THE 2007-08
FICAL YEAR
was duly and regularly approved and adopted by the City Council on the 22nd of July
2008, by the following vote to wit:
Yes: Clark, Low, Nunez, Taylor, Tran,
No: None .
Abstain: None
Absent: None
L_~lJ Gn~t.~llr
Gloria Molleda
City Clerk