HomeMy WebLinkAboutR-8940 Adopting the Appropriations Limit for 1999-00n
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RESOLUTION NO. 8940 (1999 Series)
A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN LUIS OBISPO
ADOPTING THE APPROPRIATIONS LIMIT FOR 1999 -00
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 1999 -00 have been performed by the Department
of Finance 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 1999 -00 as
follows:
Appropriations Limit: 1998 -99
$30,724,300
Cost of Living Factor: California Per Capita Income
4.53%
Population Factor: County Population Growth
2.28%
Appropriations Limit: 1999 -00
$32,848,400
Upon motion of Council Member Schwartz, seconded by Vice Mayor Romero,
and on the following roll call vote:
AYES: Council Members Ewan, Marx, Schwartz, Vice Mayor Romero and Mayor Settle
NOES: None
ABSENT: None
The foregoing resolution was adopted this 15th day of June 1999.
Mayor Allen Settle
APPROVED AS TO FORM:
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