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RESOLUTION NO. 93 -45 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH <br />DETERMINING AND ESTABLISHING AN APPROPRIATIONS LIMIT FOR FISCAL <br />YEAR 1993 -94 IN ACCORDANCE WITH ARTICLE XIIIB OF THE CALIFORNIA <br />CONSTITUTION AND GOVERNMENT CODE SECTION 7910. <br />WHEREAS, Article XIIIB was added to the California <br />Constitution at the special State -wide election held November 6, <br />1979 (commonly known as Proposition 4); and <br />•WHEREAS, Government Code Section 7910 was added to <br />Chapter 12.05 by Statute at the Regular Session of the California <br />Legislature; and <br />WHEREAS, Proposition 111, which, among other things, <br />provides new annual adjustment formulas for the Appropriations <br />Limit, was approved by the voters in June, 1990, and <br />WHEREAS, The League of California Cities and the State <br />of California Department of Finance have published population and <br />per capita income growth indexes, as well as guidelines for the <br />uniform application of Proposition 111, and <br />WHEREAS, Government Code Section 7910 requires the <br />governing body of each local jurisdiction to adopt, by resolution, <br />its appropriations limit; and <br />WHEREAS, said appropriations limit must be adhered to in <br />preparing and adopting this City's annual budget. <br />NOW, THEREFORE, the City Council of the City of Newport <br />Beach does herebv resolve as follows: <br />Section 1: In accordance with Article XIIIB of the <br />California Constitution and Government Code Section 7910, the <br />appropriations limit for fiscal year commencing 1 July 1993 for <br />the City of Newport Beach is $56,314,246. The computation of <br />appropriations for the 1993 -94 fiscal year are set forth in detail <br />in the attachment hereto, which is incorporated as though fully <br />set forth herein. <br />Section 2: Said appropriations limit shall be adhered <br />to in the City of Newport Beach budget for the 1993 -94 fiscal <br />year. <br />ADOPTED this 14th d< <br />ATTEST: <br />City erk <br />• <br />