HomeMy WebLinkAboutR-10911 adopting the appropriations limit for 2018-19RESOLUTION NO. 10911 (2018 SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS
OBISPO, CALIFORNIA, ADOPTING THE APPROPRIATIONS LIMIT
FOR 2018-19.
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 2018-19, have been performed by the Finance
Department 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 2018-10 as
follows:
Appropriations Limit 2018-19
$72,562,034
Increase in Non -Residential Assessed
Valuation Due to New Construction
20.40%
Population Factor: County Population
Growth 1
0.35%
Compound Percentage Factor
(multiplicative not additive)
1.208%
Appropriations Limit 2018-19
$87,667,937
Resolution No. 10911 (2018 Series)
Page 2
Upon motion of Council Member Rivoire, seconded by Vice Mayor Christianson, and on the
following roll call vote:
AYES: Council Members Gomez, Pease and Rivoire,
Vice Mayor Christianson and Mayor Harmon
NOES: None
ABSENT: None
The foregoing resolution was adopted this 19th day of June, 2018
MayoreiditHarrnon
ATTEST:
Teresa Purrington
City Clerk
APPROVED AS TO F -CORM:
istine Dietrick
City Attorney
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City
of San Luis Obispo, California, this 2V" day of SLS -e- , 2-01%
Teresa Purrington,
City Clerk
R 10911