CC Resolution No. 04-343
RESOLUTION NO. 04-343
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
ESTABLISHING AND ADOPTING THE APPROPRIATION
LIMIT FOR FISCAL YEAR 2004-05
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 or 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 city population percentage change over the prior year is 1.39%, and the
California per capita personal income change is 3.28%.
In computing the 2004-05 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 ofthe City of Cupertino
hereby approves a 2004-05 fiscal appropriation limit of$54,717,086.
PASSED AND ADOPTED at a regular adjourned meeting of the City Council of the City
of Cupertino this 21st day ofJune 2004, by the following vote:
Vote
Members of the City Council
AYES:
NOES:
ABSENT:
ABSTAIN:
James, Kwok, Lowenthal, Sandoval, Wang
None
None
None
ATTEST:
APPROVED:
~:i-nu-rx -
City Clerk