CC RES 2012-041RESOLUTION NO. 2012 -41
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF RANCHO PALOS VERDES ESTABLISHING
THE FISCAL YEAR 2012 -2013 APPROPRIATION LIMIT
FOR THE CITY OF RANCHO PALOS VERDES.
WHEREAS, the City of Rancho Palos Verdes has established its Appropriation Limit of
$23,434,071 (Twenty -Three Million, Four - Hundred and Thirty -Four Thousand, Seventy One
Dollars) for FY12 -13; and
WHEREAS, by a letter, dated May 2012, the California Department of Finance has provided
the following factors relevant to the calculation of the Appropriation Limit for FY12 -13:
California Per Capita Personal Income change:
Plus 3.77% (+ Three Point Seventy Seven Percent)
City of Rancho Palos Verdes Population Adjustment:
Plus 0.42% (+ Zero Point Forty Two Percent)
WHEREAS, the City Finance staff has calculated the Appropriation Limit for FY12 -13 based
upon the foregoing factors and the provisions of Article XIII B of the Constitution of the State
of California. The working papers supporting the calculation are maintained in the files of the
Finance department within the City.
WHEREAS, the Appropriation Limit for the City of Rancho Palos Verdes establishes the
ceiling for which proceeds from taxes can be appropriated during FY12 -13.
BE IT, THEREFORE, RESOLVED BY THE CITY COUNCIL OF THE CITY OF RANCHO
PALOS VERDES:
Section 1: The Appropriation Limit of the City of Rancho Palos Verdes is $23,434,071
(Twenty -Three Million, Four - Hundred and Thirty -Four Thousand, Seventy One Dollars) for
FY12 -13.
Section 2: The Appropriation Limit of the City of Rancho Palos Verdes in the amount of
$23,434,071 (Twenty -Three Million, Four - Hundred and Thirty -Four Thousand, Seventy One
Dollars) exceeds the proceeds from taxes, calculated in the amount of $19,123,734
(Nineteen Million, One - Hundred and Twenty -Three Thousand, Seven Hundred and Thirty -
Four Dollars) for FY12 -13. Therefore, the City of Rancho Palos Verdes shall be in
compliance with the provisions of Article XIII B of the Constitution of the State of California.
Section 3: The City Clerk shall certify to the passage of this resolution.
PASSED, APPROVED, AND ADOPTED this
ATTEST:
City Clerk
State of California )
County of Los Angeles ) ss
City of Rancho Palos Verdes )
19th d June 2012.
qayor
I, Carla Morreale, City Clerk of The City of Rancho Palos Verdes, hereby certify that the
above Resolution No. 2012 -41 was duly and regularly passed and adopted by the said City
Council at a regular meeting thereof held on June 19, 2012.
City Clerk
Resolution No. 2012 -41
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