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HomeMy WebLinkAboutReso 49-19 Establishing Prop 4 Appropriations LimitRESOLUTION NO. 49-19 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MORRO BAY, CALIFORNIA, ESTABLISHING THE ANNUAL PROPOSITION 4 APPROPRIATIONS LIMIT FOR THE FISCAL YEAR 2019120 THE CITY COUNCIL City of Morro Bay, California WHEREAS, Article XIIIB of the California Constitution proceeds that the City receives in any given fiscal year; and restricts the appropriation of tax WHEREAS, the City has calculated the FY 2019/20 appropriations limit, in accordance with the provisions of Article XI 11 B 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, to adopt Resolution No. 49-19, which accepts the calculation of the FY 2019/20 appropriations limit, as prepared by the Morro Bay Finance Department, and establishes the FY 2019/20 appropriations limit at $28,065,499. PASSED AND ADOPTED, by the City Council of the City of Morro Bay, at a regular meeting thereof held on the 25t" day Of June 2019, by the following vote: AYES: Headding, Addis, Davis, McPherson NOES: None ABSENT: Heller (� 1 JOHN H'EA ATTEST: NA SWANSON, City Clerk