HomeMy WebLinkAbout92-62 - Appropriations Limit for FY 1992-93•
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RESOLUTION NO. 92 -62
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH
DETERMINING AND ESTABLISHING AN APPROPRIATIONS LIMIT FOR FISCAL
YEAR 1992 -93 IN ACCORDANCE WITH ARTICLE XIIIB OF THE CALIFORNIA
CONSTITUTION AND GOVERNMENT CODE SECTION 7910.
WHEREAS, Article XIIIB was added to the California
Constitution at the special State -wide election held November 6,
1979 (commonly known as Proposition 4); and
WHEREAS, Government Code Section 7910 was added to
Chapter 12.05 by Statute at the Regular Session of the California
Legislature; and
WHEREAS, Proposition 111, which, among other things,
provides new annual adjustment formulas for the Appropriations
Limit, was approved by the voters in June, 1990, and
WHEREAS, The League of California Cities and the State of
California Department of Finance have published population and per
capita income growth indexes, as well as guidelines for the uniform
application of Proposition 111, and
WHEREAS, Government Code Section 7910 requires the
governing body of each local jurisdiction to adopt, by resolution,
its appropriations limit; and
WHEREAS, said appropriations limit must be adhered to in
preparing and adopting this City's annual budget.
NOW, THEREFORE, the City Council of the City of Newport
Beach does hereby resolve as follows:
Section 1: In accordance with Article XIIIB of the
California Constitution and Government Code Section 7910, the
appropriations limit for fiscal year commencing 1 July 1992 for the
City of Newport Beach is $53,669,172. The computation of
appropriations for the 1992 -93 fiscal year are set forth in detail
in the attachment hereto, which is incorporated as though fully set
forth herein.
Section 2: Said appropriations limit shall be adhered to
in the City of Newport Beach budget for the 1992 -93 fiscal year.
ADOPTED this 8th day of June, 1992.
ATTEST:
City Clerk
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