CC RES 2001-041 RESOLUTION NO. 2001-41
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF RANCHO PALOS VERDES ESTABLISHING
THE FISCAL YEAR 2001-02 APPROPRIATION LIMIT
FOR THE CITY OF RANCHO PALOS VERDES
WHEREAS, the City of Rancho Palos Verdes has established its Appropriation Limit of
$16,405,760 (Sixteen Million Four Hundred and Five Thousand Seven Hundred and
Sixty Dollars) for Fiscal Year 2001-02; and
WHEREAS, by a letter, dated May 1, 2001, the California Department of Finance has
provided the following factors relevant to the calculation of the Appropriation Limit for
Fiscal Year 2001-02:
California Per Capita Personal Income change:
Plus 7.82% (+ Seven Point Eight Two Percent).
City of Rancho Palos Verdes Population Adjustment:
Plus 1.63% (+ One Point Six Three Percent)
WHEREAS, the City Finance staff has calculated the Appropriation Limit for Fiscal Year
2001-02 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 Fiscal Year 2001-02.
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 $16,405,760
(Sixteen Million Four Hundred and Five Thousand Seven Hundred and Sixty Dollars) for
Fiscal Year 2001-02.
Section 2: The Appropriation Limit of the City of Rancho Palos Verdes in the amount of
$16,405,760 (Sixteen Million Four Hundred and Five Thousand Seven Hundred and
Sixty Dollars) exceeds the proceeds from taxes, calculated in the amount of$9,724,430
(Nine Million Seven Hundred and Twenty Four Thousand and Four Hundred and Thirty
Dollars) for Fiscal Year 2001-02. 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 5th DAY OF JUNE, 2001.
I
/ MAY. '
ATTEST:
r
CITY CLERK
State of California )
County of Los Angeles ) ss
City of Rancho Palos Verdes )
I, JO PURCELL, City Clerk of The City of Rancho Palos Verdes, hereby certify that the
above Resolution No. 2001-41 was duly and regularly passed and adopted by the said
City Council at a regular meeting thereof held on June 5, 2001.
Aga / 24/LA:2,
Cr_ CLERK
Resolution No. 2001-41
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