HomeMy WebLinkAboutR-10727 - Appropriations Limit for 2016-17, Gann Spending Limitation InitiativeRESOLUTION NO. 10727 (2016 SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS
OBISPO, CALIFORNIA, ADOPTING THE APPROPRIATIONS LIMIT
FOR 2016-17
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 2016-17, have been performed by the Finance
& Information Technology Department 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 2016-17
as follows:
Appropriations Limit 15-16
$62,534,500
Increase in Non -Residential Assessed Valuation
Due to New Construction
5.63%
Population Factor: County Population Growth
0.60%
Compound Percentage Factor (multiplicative not
additive)
1.063%
Appropriations Limit 2016-17
$66,451,524
Upon motion of Council Member Ashbaugh, seconded by Mayor Marx, and on the following roll
call vote:
AYES: Council Member Ashbaugh, Vice Mayor Carpenter and Mayor Marx
NOES: Council Members Christianson and Rivoire
ABSENT: None
R 10727
Resolution No. 10727 (2016 Series)
The foregoing resolution was adopted this 14th day of June 2016.
Mayor J arx
ATTEST:
Lee Price, MMC
Interim City Clerk
QVED AS
9. Christine Dietrick
City Attorney
Page 2
IN WITNESS WHEREOF, I have hereunto set my and and affixed the official seal of the City
of Sam Luis Obispo, California, this day of
Lee Pn e MMC
Interim City Clerk
R 10727