HomeMy WebLinkAboutReso 65-20 Appropriations Limit for FY 20-21 GAANRESOLUTION NO. 65-20
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF MORRO BAY, CALIFORNIA,
ESTABLISHING THE ANNUAL PROPOSITION 4
APPROPRIATIONS LIMIT FOR THE FISCAL YEAR 2020/21
THE CITY COUNCIL
City of Morro Bay, California
WHEREAS, Article XIIIB 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 2020/21 appropriations limit, in
accordance with the provisions of Article XIIIB 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. 65-20, which accepts the calculation of the FY
2020/21 appropriations limit, as prepared by the Morro Bay Finance Department, and
establishes the FY 2020/21 appropriations limit at $28,990,070.
PASSED AND ADOPTED, by the City Council of the City of Morro Bay, at a regular
meeting thereof held on the 14th day of July 2020, by the following vote:
AYES. Headding, Addis, Davis, Heller, McPherson
NOES. None
ABSENT: None
C
JOHN HEADDING; mayor
ATTEST:
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DANA SWANSON, City Clerk