CC RES 1992-023RESOLUTION NO. 92 - 23
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF RANCHO PALOS VERDES
CREATING A LONG RANGE FINANCE COMMITTEE
WHEREAS, the City Council of the City of Rancho Palos Verdes has
placed an initiative on the ballot to establish an excise tax in
the City of Rancho Palos Verdes; and
WHEREAS, the proposed ordinance to levy an excise tax provides for
the establishment of a finance committee to be appointed by City
Council.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO PALOS VERDES
DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. Creation of Long Range Finance Committee. There
shall be, and there is hereby established, an advisory committee to
be known and designated as the Long Range Finance Committee.
Section 2, Members. The Long Range Finance Committee shall be
comprised of not less than seven (7) members who shall be appointed
by the City Council. The term of office shall begin upon
appointment by the City Council and continue until June 30, 1996,
the date when the proposed ordinance enacting an excise tax becomes
null and void, or on some other date as established by resolution
of City Council. Should any vacancy exist on the Long Range
Finance Committee, an appointment shall be made in a like manner
for the unexpired portion of the term. The City Manager, or his
designee, shall serve as an ex- officio member of the Committee.
Section 3. Duties. The Long Range Finance Committee shall have
the following duties:
(1) Annually review the statement of the City's financial
condition and shall annually advise the City Council regarding
the City's financial condition.
(2) Advise the City Council on the City's capital improvement
needs.
(3) Annually advise the City Council regarding the use of the
revenues derived from the excise tax imposed by the adoption
of the proposed ordinance. The Committee shall prioritize
those uses of the excise tax proceeds for consideration by
City Council.
(4) Advise the Council on the need for the excise tax and
annually recommend the amount of an excise tax for the
following year.
Section 4. Organization. The City Council shall appoint the
Chairperson. The Long Range Finance Committee shall appoint a
Vice - Chairperson from among its members, at its first
organizational meeting and annually thereafter at its first meeting
in July, 1993. Official records of the Committee's meetings shall
be filed with the City Clerk.
PASSED, APPROVED, AND ADOPTED THIS 3RD DAY OF MARCH, 1992.
ATTEST:
Stk to of California }
County of Los Angeles )
City of Rancho Palos Verdes )
I, JO PURCELL, City Clerk of The City of Rancho Palos Verdes,
hereby certify that the above Resolution No. 92 -23 was duly
and regularly passed and adopted by the said City Council at
a regular meeting thereof held on March 3, 1 20
CITY CL
CITY OF RANCHO PALOS VERDES
-2- RESOL. NO. 92 -23