HomeMy WebLinkAboutReso 39-17 Establishing Prop 4 Appropriations LimitRESOLUTION NU. 39-17
RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF MORRO BAY, CALIFORNIA,
ESTABLISHING THE ANNUAL PROPOSITION 4
APPROPRIATIONS LIMIT FOR THE FISCAL YEAR 2017/18
THE CITY COUNCIL
City of Morro Bay, California
WHEREAS, Article XI IIB of the California Constitution restricts the appropriation of tax
proceeds that the City receives in any given fiscal year; and
WHEREAS, the City has calculated the FY 17/18 appropriations limit, in accordance
with the provisions of Article X11113 of the California Constitution; and
WHEREAS, Proposition 111 of June 1990 requires an annual election of the
methodology used in the calculation of the current year appropriations limit.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Morro Bay,
California, by adoption of this Resolution No. 39-17, the City Council:
1. accepts the calculation of the FY 17/18 appropriations limit, as prepared by the
Morro Bay Finance Department, and
2. establishes the FY 17/18 appropriations limit at $25,915,210.
PASSED AND ADOPTED, by the City Council of the City of Morro Bay, at a regular
meeting thereof held on the 11day of JU 2017, by the following vote:
AYES: Irons, Davis, Headding, Makowetski,
NOES: None
ABSENT: None
ABSTAIN: None
JAMI
ATTEST:
SWANSON, City Clerk
McPherson