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RESOLUTION NO. 2005- 33 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH <br />DETERMINING AND ESTABLISHING AN APPROPRIATIONS LIMIT FOR FISCAL YEAR 2005- <br />06 IN ACCORDANCE WITH ARTICLE XIIIB OF THE CALIFORNIA CONSTITUTION AND <br />GOVERNMENT CODE SECTION 7910. <br />WHEREAS, Article XIIIB was added to the California Constitution at the special <br />State -wide election held November 6, 1979 (commonly known as Proposition 4); and <br />WHEREAS, Government Code Section 7910 was added to Chapter 12.05 by <br />Statute at the Regular Session of the California Legislature; and <br />WHEREAS, Proposition 111, which, among other things, provides new annual <br />adjustment formulas for the Appropriations Limit, was approved by the voters in June, 1990, and <br />WHEREAS, The League of California Cities and the State of California <br />Department of Finance have published population and per capita income growth indexes, as well <br />as guidelines for the uniform application of Proposition 111, and <br />WHEREAS, Government Code Section 7910 requires the governing body of each <br />local jurisdiction to adopt, by resolution, its appropriations limit; and <br />WHEREAS, said appropriations limit must be adhered to in preparing and <br />adopting this City's annual budget. <br />NOW, THEREFORE, the City Council of the City of Newport Beach does hereby <br />resolve as follows: <br />Section 1: In accordance with Article XIIIB of the California Constitution and <br />Government Code Section 7910, the appropriations limit for fiscal year commencing 1 July 2005 <br />for the City of Newport Beach is $119,548,685. The computation of appropriations for the 2005- <br />06 fiscal year are set forth in detail in the attachment hereto, which is incorporated as though <br />fully set forth herein. <br />Section 2: Said appropriations limit shall be adhered to in the City of Newport <br />Beach budget for the 2005 -06 fiscal year. <br />0 <br />City Clerk <br />