HomeMy WebLinkAboutResolutions - No. 93-112RESOLUTION NO. 93-112
RESOLUTION ADOPTING THE APPROPRIATION LIN UT
AND ADJUSTMENT FACTORS SELECTED TO CALCULATE THE
LIMIT FOR FISCAL YEAR 1993-94
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 1993, 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 1993-94 of $35,697,755 and designates the adjustment factors for calculation of the
Appropriation Spending Limit as: (1) the California Per Capita Income growth factor of 2.72 %; and,
(2) the San Joaquin County Population growth factor of 2.13 %.
Dated: September 15, 1993
I do hereby certify that Resolution No. 93-112 was passed and adopted by the City council of
the City of Lodi in a regular meeting held September 15, 1993 by the following vote:
AYES: Council Members - Davenport, Mann, Sieglock, Snider, and
Pennino (Mayor)
NOES: Council Members - None
ABSENT: Council Members - None
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City Clerk