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6.M. - Page 4 of 10 <br />NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />REDWOOD CITY AS FOLLOWS: <br />1. This Council does hereby select to use the change in population within <br />Redwood City as the "change in population" for purposes of in calculating its annual <br />appropriations limit. <br />2. This Council does hereby select to use the percentage change in per capital <br />personal income as the "change in the cost of living" for purposes of calculating its annual <br />appropriations limit. <br />3. This Council does hereby establish as the appropriations limit for Fiscal <br />Year 2019-20, the amount of $741,875,879, calculated in accordance with the provisions <br />of Division 9 (commencing with Section 7900) of the California Government Code. <br />Proposition 4Appropriation Limitations <br />Fiscal Year 2019-20 <br />Calculation for FY 2019-20 <br />Appropriations Limit FY 2018-19 <br />$707,019,533 <br />Percentage change in Per Capita Personal Income <br />3.85% <br />over prior year <br />Percentage increase in City population growth 1.04% <br />1.0385 x 1.0104 = 1.0493004 <br />Appropriations Limit FY 2019-20 $741,875,879 <br />4. This resolution shall be effective immediately upon its adoption. <br />Page 2 of 2 <br />ATTY/RESO.0056/CC RESO APPROPRIATIONS LIMIT FY 19-20 <br />REV: 05-20-19 PR <br />339 <br />