CC RES 2006-039RESOLUTION NO. 2006-39
ARESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO PALOS VERDES
ESTABLISHING THE FISCAL YEAR 2006 -2007 APPROPRIATION LIMIT FOR THE CITY
OF RANCHO PALOS VERDES.
WHEREAS, the City of Rancho Palos Verdes has established its Appropriation Limit of
$19,801,112 (Nineteen Million, Eight Hundred and One Thousand, One Hundred and
Twelve Dollars) for FY06 -07; and
WHEREAS, by a letter, dated May 1, 2006, the California Department of Finance has
provided the following factors relevant to the calculation of the Appropriation Limit for
FY05 -06:
California Per Capita Personal Income change:
Plus 3.96% (+ Three Point Nine Six Percent)
County of Los Angeles Population Adjustment:
Plus 0.78% (+ Zero Point Seven Eight Percent)
WHEREAS, the City Finance staff has calculated the Appropriation Limit for FY06 -07
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 FY06 -07.
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 $19,801,112
(Nineteen Million, Eight Hundred and One Thousand, One Hundred and Twelve
Dollars) for FY06 -07.
Section 2: The Appropriation Limit of the City of Rancho Palos Verdes in the amount of
$19,801,112 (Nineteen Million, Eight Hundred and One Thousand, One Hundred and
Twelve Dollars) exceeds the proceeds from taxes, calculated in the amount of
$12,984,672 (Twelve Million, Nine Hundred and Eighty -Four Thousand, Six Hundred
and Seventy -Two Dollars) for FY06 -07. 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.
APPROVED AND ADOPTED THE 6t" DAY OF JUNE 2006.
Mayor
Attest:
State of California )
County of Los Angeles ) ss
City of Rancho Palos Verdes )
I, Carolynn Petru, City Clerk of the City of Rancho Palos Verdes, hereby certify that the
above Resolution No. 2006 -39 was duly and regularly passed and adopted by the said
City Council at a regular meeting thereof held on June 6, 2006.
z - A
Clerk
Resolution No. 2006 -39
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