CC RES 1999-036 RESOLUTION NO. 99-36
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF RANCHO PALOS VERDES ESTABLISHING
THE 1999-00 FISCAL YEAR APPROPRIATION LIMIT
FOR THE CITY OF RANCHO PALOS VERDES
WHEREAS, the City of Rancho Palos Verdes has established its 1998-99 Fiscal Year
Appropriation Limit of$13,176,712 (Thirteen Million One Hundred Seventy Six Thousand
Seven Hundred and Twelve Dollars); and
WHEREAS, by letter, dated May 1, 1999, the California Department of Finance has provided
the following factors relevant to the calculation of the 1999-00 Fiscal Year Appropriation Limit:
California Per Capita Personal Income change:
Plus 4.53% (+ Four Point Five Three Percent).
Los Angeles County Population Adjustment:
Plus 1.78% (+ One Point Seven Eight Percent)
WHEREAS, the City Finance staff has calculated the 1999-2000 Fiscal Year Appropriation
Limit based upon on 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 1999-00 Fiscal Year Appropriation Limit of the City of Rancho Palos Verdes
establishes the ceiling for which proceeds from taxes can be appropriated.
BE IT, THEREFORE, RESOLVED BY THE CITY COUNCIL OF THE CITY OF RANCHO
PALOS VERDES:
Section 1: The 1999-00 Fiscal Year Appropriation Limit of the City of Rancho Palos Verdes is
$14,018,787 (Fourteen Million Eighteen Thousand Seven Hundred Eighty Seven Dollars).
Section 2: The 1999-00 Fiscal Year Appropriation Limit of the City of Rancho Palos Verdes in
the amount of$14,018,787 (Fourteen Million Eighteen Thousand Seven Hundred Eighty
Seven Dollars) exceeds the proceeds from taxes, calculated in the amount of$7,949,400
(Seven Million Nine Hundred Forty Nine Thousand Four Hundred Dollars). 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 1st DAY OF JUNE, 1999.
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MAYOR
ATTEST:
41110 Ili
CIT.' 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. 99-36 was duly and regularly passed and adopted by the said City Council at
a regular meeting thereof held on June 1, 1999.
CITY ERK
n:analysis\gann\gann99resolution
-2- Resol. No. 99-36