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06/08/2015 <br /> ORIGINAL <br /> RESOLUTION NO. 15413 <br /> A RESOLUTION OF THE CITY OF REDWOOD CITY <br /> ESTABLISHING APPROPRIATIONS LIMIT FOR FISCAL YEAR <br /> 2015-16 <br /> WHEREAS, Article XIII B of the Constitution of the State of California <br /> places various limitations on the City's powers of appropriation; and <br /> WHEREAS, Division 9 (commencing with Section 7900) of the <br /> Government Code implements said Article XIII B and requires that each local <br /> jurisdiction shall, by resolution, establish its appropriations limit for the following <br /> year. <br /> NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE <br /> CITY 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 /> Appropriation Limit FY 2014-15 $ 573,095,639 <br /> Percentage change in statewide per 3.82% <br /> capita personal income <br /> Percentage increase in City population growth 1.26% <br /> 1.0382 x 1.0126 = 1.05128 <br /> Appropriation Limit FY 2015-16 $ 602,484,739 <br /> * � * <br /> ATTY/RES0.3087/CC RESO ESTABLISHING APPROPRIATIONS LIMIT FY15-16 RESO.#15413 <br /> REV:05-19-15 MLG MUFF#501 <br /> Page 1 of 1 <br />