R 4452 RESOLUTION NO. 4452
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ARROYO GRANDE ADOPTING A TAX PROCEEDS
EXPENDITURE APPROPRIATION LIMIT FOR FISCAL YEAR
2012-13
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 adopted 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 2012-13.
2. The appropriation limit for Fiscal Year 2012-13 is hereby set at seventeen million,
seven hundred and seventeen thousand, and nine hundred and ninety-five dollars
($17,717,995).
3. Documentation used in the determination of the tax proceeds expenditure
appropriation limit is attached hereto as Exhibit A and incorporated herein by this
reference.
4. This Resolution is effective on its date of adoption.
On motion of Council Member Ray, seconded by Council Member Brown, and on the
following roll call vote, to wit:
AYES: Council Members Ray, Brown, Guthrie, and Mayor Ferrara
NOES: None
ABSENT: Council Member Costello
the foregoing Resolution was passed and adopted this 12th day of June 2012.
RESOLUTION NO. P4145 Z
PAGE 2
TONY FE , MAYOR
ATTEST:
ice►__'. ., I _' .L[...' r
KELLY W: T i•RE, CITY CLERK
APPROVED AS TO CONTENT:
Akt ADAMS, CITY MANAGER
APPROVED AS TO,FORM:
TI THY J. C M 2CITY ATTORNEY
Exhibit A
CITY OF ARROYO GRANDE
CALCULATION OF APPROPRIATION LIMIT FROM TAX PROCEEDS
FOR FISCAL YEAR 2012-13
Appropriation limit for 2011-12 $ 17,089,162
Multiplied by the appropriation limit change factors:
Per Capita Personal Income Change: 3.77%
Conversion to ratio: 3.77% + 100
= 1.0377
100
Population Change:
2011 17,306
2012 17,291 -0.0868%
Change (15)
Conversion to ratio: (15) -.0868 + 100 0.99913
17,291 100
APPROPRIATION LIMIT FOR FISCAL YEAR 2012-13 $ 17,717,995
ESTIMATED 2012-13 PROCEEDS OF TAXES SUBJECT TO
APPROPRIATION LIMIT $ 11,550,043
r
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
Resolution No. 4452 is a true, full, and correct copy of said Resolution passed
and adopted at a regular meeting of the City Council/Successor Agency to the
Dissolved Arroyo Grande Redevelopment Agency of the City of Arroyo Grande
on the 12th day of June 2012.
WITNESS my hand and the Seal of the City of Arroyo Grande affixed this 13th
day of June 2012.
/lb,/ / At 1.6. _L
KELLY WE/ ORE, CITY CLERK