HomeMy WebLinkAboutr 10534 Adopt Appropriations Limit for 2014-15RESOLUTION NO 10534 (2014 Series)
A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN LUIS OBISPO
ADOPTING THE APPROPRIATIONS LIMIT FOR 2014 -15
WHEREAS the voters approved the Gann Spending-Limitation Initiative on November 6
1979 and Proposition 111 on June 5 1990 which establish and define annual appropriation limits
on state and local government agencies and
WHEREAS regulations require that the governing body of each local agency establish its
appropriations limit and annual adjustment factors by resolution and
WHEREAS the required calculations to determine the City s appropriations limit and
estimated appropriations subject to limitation for 2014 -15 have been performed by the Department
of finance R Infornmation Technology and are available for public review
NOW, THEREFORE, BE IT RESOLVED that the Council of the City of San Luis
Obispo hereby adopts the City s appropriations limit and annual adjustment factors for 2014 -15 as
follows
Appropriations Limit 2013 -14 $54 337 500
Increase in Non - Residential Assessed Valuation Due to New Construction 869%
Population Factor County Population Growth 009%
Compound Percentage Factor (multiplicative not additive) 1087%
Appropriations Limit 2014 -15 559,112,600
Upon motion of Council Member Ashbaugh seconded by Council Member Smith and
on the followm, roll call vote
AYES Council Members Ashbaugh Carpenter and Smith
Vice Mayor Christianson and Mayor Mar\
NOES None
ABSENT None
the foregoing resolution was adopted this 17th day of June 2014
APPROVED AS ORM
ristine Dietric.
City Attomey
May r an Mar\
R 10534
A" T
tliony, J m jia
City Clerk
APPROVED AS ORM
ristine Dietric.
City Attomey
May r an Mar\
R 10534