HomeMy WebLinkAboutReso 47-18 FY 18-19 GAAN LimitRESOLUTION N0.47
-18
RESOLUTION OF THE CITY COUNCIL %
THE CITY OF MORRO BAY, CALIFORNIA,
ESTABLISHING THE ANNUAL PROPOSITION at
APPROPRIATIONS LIMIT FOR THE FISCAL YEAR 2018/19
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 18/19 appropriations limit, i
n accordance
with the provisions of Article X111 B of the California Constitution; and
WHEREAS, Proposition 111 of June 19
9 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. 47-18, which accepts the calculation of the FY 18/19
appropriations limit, as prepared by the Morro Bay Finance Department, and establishes the
FY 18/19 appropriations limit at $26,960,330.
PASSED AND ADOPTED, by the City Council of the City of Morro Bay, at a regular
meeting thereof held on the 261h day of June 2018, by the following vote:
AYES: Irons, Davis, Headding, Makowetski
NOES: None
ABSENT: McPherson
JAlal�'I E L.
ATTEST:
SWANSON, City Clerk