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ATTACHMENT 1 <br />RESOLUTION NO. _____ <br /> <br />A RESOLUTION OF THE CITY OF REDWOOD CITY <br />ESTABLISHING APPROPRIATIONS LIMIT FOR FISCAL YEAR <br />2015-16 <br /> <br /> <br /> WHEREAS, Article XIII B of the Constitution of the State of California places <br />various limitations on the City’s powers of appropriation; and <br /> WHEREAS, Division 9 (commencing with Section 7900) of the Government <br />Code implements said Article XIII B and requires that each local jurisdiction shall, <br />by resolution, establish its appropriations limit for the following year. <br /> NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY <br />OF REDWOOD CITY AS FOLLOWS: <br /> This Council does hereby establish as the appropriations limit for Fiscal <br />Year 2015-16, the amount of $602,484,739, calculated in accordance with the <br />provisions of Division 9 (commencing with Section 7900) of the California <br />Government Code. <br />Proposition 4 Appropriation Limitations <br />Fiscal Year 2015-16 <br /> <br />Appropriation Limit FY 2014-15 $ 573,095,639 <br /> <br />Percentage change in statewide per <br />capita personal income <br />3.82% <br /> <br />Percentage increase in City population growth 1.26% <br /> <br />1.0382 x 1.0126 = 1.05128 <br /> <br />Appropriation Limit FY 2015-16 $ 602,484,739 <br /> <br /> * * * <br />ATTY/RESO.3087/CC RESO ESTABLISHING APPROPRIATIONS LIMIT FY15-16 <br />REV: 05-19-15 MLG <br />Page 1 of 1 <br />7.2.C. - Page 3