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CC Resolution No. 01-139RESOLUTION NO. 01-139 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO ESTABLISHING AN APPROPRIATION LIMIT FOR FISCAL YEAR 2001-02 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 percentage change 0.91% and the California per capita personal income change is 7.18%. In computing the 2001-02 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 nonresidential assessed valuation percentage when the figure is available. NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Cupertino hereby approves a 2001-02 fiscal appropriation limit of $50,050,285. PASSED AND ADOPTED at a regular meeting of the City Council of the City of Cupertino this 18th day of June 2001, by the following vote: Vote Members of the City Council AYES: Bumett, Chang, James, Lowenthal NOES: Iqone ABSENT: None ABSTAIN: None City Clerk f Mayor, City of Cupertit~'