R 4092RESOLUTION N0.4092
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ARROYO GRANDE ADOPTING A-TAX PROCEEDS
EXPENDITURE APPROPRIATION LIMIT FOR FISCAL YEAR
2008-09
WHEREAS, Sections 7900 et seq. of the Government Code provide for the effective and
efficient implementation of Article XIIIB of the California Constitution; and
WHEREAS, Government Code Sections 7901 through 7914 provide that each year, the
governing body of each local jurisdiction shall, by resolution at a regularly scheduled
meeting, establish the annual adjustment factors to be used and the tax proceeds
expenditure appropriation limit.
NOW, THEREFORE BE IT RESOLVED, by the City Council of the City of Arroyo Grande
as follows:
1. The California per capita income and the population of San Luis Obispo County,
California are recognized as the annual adjustment factors for Fiscal Year 2008-09.
2. The appropriation limit for Fiscal Year 2008-09 is hereby set at Sixteen million, six
hundred and eighty thousand, seven hundred and fifty-five dollars ($16,680,755).
3. Documentation used in determination of the tax proceeds expenditure appropriation
limit is attached hereto, as Exhibit A, incorporated herein by this reference.
4. This Resolution is effective on its date of adoption.
On motion of Council Member Costello, seconded by Council Member
Arnold, and on the following roll call vote, to wit:
AYES: Council Members Costello, Arnold, Guthrie, and Mayor Ferrara
NOES: None
ABSENT: Council Member Fellows
the foregoing Resolution was passed and adopted this 10~h day of June 2008.
RESOLUTION NO. c/092
PAGE 2
TONY ER ,MAYOR
ATTEST: '/
KELLY W MO ,CITY CLERK
APPROVED AS TO CONTENT:
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STEIN N AUAII~S~tW-MANAGER
APPROVED AS TO FORM:
TIMO HY J. RM I ATTORNEY
Exhibit A
CITY OF ARROYO GRANDE
CALCULATION OFAPPROPRL4TION LIMIT FROMTAX PROCEEDS
FOR FISCAL YEAR 2008-09
Appropriation limit for 2007-08
Multiplied by the appropriation limit change factors:
Per Capita Personal Income Change: 4.29%
Conversion to ratio:
4.29% + 100
$ 15,827,355
1.0429
100
Population Change:
2007 16,856 .
2008 17,036
Change 180
Conversion to ratio: 180
17,036
APPROPRIATION LIMIT FOR FISCAL YEAR 2008-09
1.0566%
1.0566+100
100
ESTIMATED 2008-09 PROCEEDS OF TAXES SUBJECT TO
APPROPRIATION LIMIT
1.01057
$ 16,680,755
$ 12,104,964
OFFICIAL CERTIFICATION
I, KELLY WETMORE, City Clerk of the City of Arroyo Grande, County of San Luis
Obispo, State of California, do hereby certify under penalty of perjury, that the attached
Resolution No. 4092 is a true, full, and correct copy of said Resolution passed and
adopted at a regular meeting of the City Council/Redevelopment Agency of the City of
Arroyo Grande on the 10~h day of June 2008.
WITNESS my hand and the Seal of the City of Arroyo Grande affixed this 11th day of
June 2008.
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KELLY W TM E, CITY CLERK