CC Resolution No. 8702
RESOLUTION NO. 8702
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CUPERTINO ESTABLISHING AN APPROPRIATION LIMIT FOR
FISCAL YEAR 1992-1993
WHEREAS, the State of California has adopted legislation requiring local
jurisdictions to calculate their appropriation limits in complying with Article XIII B; and
WHEREAS, said limits are detennined by a formula based upon change in
population, (city or county), combined with either the change in inflation (California per
capita income) of the change in the local assessment roll due to local nonresidential
construction; and
WHEREAS, the local governing body is required to set an appropriation limit by
adoption of a resolution; and
WHEREAS, the City population percentage change is 2,79% and the California
pr capita personal income change is -,64%;
In computing the 1992-1993 limit, City Council has elected to use the City
population percentage change, and the California per capita income change was used, but
the Council has a right to change to non-residential assessed valuation percentage when
the figure is available,
NOW, THEREFORE, BE IT RESOLVED that the City Council of Cupertino
hereby approves a 1992-93 fiscal year appropriation limit of $25,885,849,
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Cupertino this 6th day of Julv , 1992, by the following
vote:
Resolution No, 8702
Vote Members of the Q!y Council
AYES: Dean, Goldman, Szabo, Sorensen
NOES: None
ABSENT: Koppel
ABSTAIN: None
ATTEST: APPROVED:
/s/ Dorothy Cornelius
City Clerk
/s/ Laura1ee Sorensen
Mayor, City of Cupertino