R 2446
112
RESOLUTION NO. 2446
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ARROYO GRANDE AMENDING ITS ANNUAL EXPENDITURE
APPROPRIATION LIMITS FROM TAX PROCEEDS FOR
EACH FISCAL YEAR SUCCEEDING THE 1990
PROP. 111 BASE YEAR OF 1986-1987.
WHEREAS, the June 1990 ballot Proposition lll, passed by
the voters of the State of California, amended the method of
calculation of annual expenditure appropriation limits, as
originally established in November 1979 as Proposition 4
(commonly known as the Paul Gann Limit) and followed by
SB 1352 implementing legislation; and j
WHEREAS, such a re-calculation has been accomplished in
accordance with the provisions of Prop. 111, for each year
succeeding the Prop. 111 base year of 1986-87:
NOW THEREFORE, the City Council of the City of Arroyo
Grande hereby resolves that the amended expenditure appropriation
limits from tax proceeds for recent fiscal years are as follows:
1987-1988 $5,552,113
1988-1989 6,033,397
1989-1990 6,595,3l4
1990-1991 7,389,137
on motion of Council Member Smith , seconded !
by Council Member Dougall , and on the
following roll call vote, to wit:
AYEs:counc~l Members Smith, Dougall, Moots, Olsen and Mayor Millis
NOES: None
ABSENT: None
the foregoing resolution was passed and adopted this 12th
day of February , 1991.
'~~ :JL
MA OR MARX M. 'M&IS ~
ATTEST: ~ a. J:),,1~.<U I
CITY CL NANCY A. DAVIS J
APPROVED AS TO FORM:
~