CC Resolution No. 98-161RESOLUTION NO. 98-16~
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
ESTABLISHING AN APPROPRIATION LIMIT FOR FISCAL YEAR
1998-99
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 determined by a formula based upon change in population,
(city of county), combined with either the change in inflation (California per capita income) or
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 county population pementage change 4.15% and the California per
capita personal income change is 4.15%.
In computing the 1998-99 limit, City Council has elected to use the county population
pementage change, and the California per capita income change was used, but the Council has a
right to change nonresidential assessed valuation pementage when the figure is available.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Cupertino
hereby approves a 1998-99 fiscal appropriation limit of $36,515,554.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Cupertino this 15th day of June 1998, by the following vote:
Vote
Members of the City Council
AYES:
NOES:
ABSENT:
ABSTAIN:
BURNETT, DEAN, JAMES, SATTON, CHANG
NONE
NONE
NONE
{(~PROVED: [/~ ,-
Mayor, City of Cupertino
ATTEST: