HomeMy WebLinkAboutResolutions - No. 94-102RESOLUTION NO. 94-102
A RESOLUTION OF THE LODI CITY COUNCIL
ADOPTING THE APPROPRIATION LIMIT AND ADJUSTMENT
FACTORS SELECTED TO CALCULATE THE LIMIT FOR FISCAL YEAR 1994-95
WHEREAS, the City Council of Lodi is required to adopt the
Appropriation Spending Limit; and
WHEREAS, the City Council is required to designate the annual
adjustment factors selected to calculate the Appropriation Spending
Limit; and
WHEREAS, the City has selected the California Per Capita Income
growth rate and the San Joaquin County Population Growth rate published
by the California Department of Finance; and
WHEREAS, the Appropriation Spending Limit was not adopted prior
to the beginning of the Fiscal Year due to the uncertainty of tax
revenues due to changes in State tax distribution laws by the State
Legislature in June 1994; and
WHEREAS, the changes in the State tax laws have significantly
impacted the calculation of the Appropriation subject to limit.
NOW, THEREFORE the City Council of the City of Lodi adopts the
Appropriation Limit for Fiscal Year 1994-95 of $36,515,234 and
designates the adjustment factors for calculation of the Appropriation
Spending Limit as: (1) the California Per Capita Income growth factor
of .71%; and, (2) the San Joaquin County Population growth factor of
1.57%.
Dated: September 7, 1994
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I hereby certify that Resolution No. 94-102 was passed and
adopted by the Lodi City Council in a regular meeting held September 7,
1994 by the following vote:
Ayes: Council Members - Davenport, Mann, Pennino, Snider
and Sieglock (Mayor)
Noes: Council Members - None
Absent: Council Members - None
nnifer . Perrin
City Cle
94-102
RES94102/TXTA.02J