HomeMy WebLinkAboutResolutions - No. 92-169RESOLUTION NO. 92= 169 .
RESOLUTION ADOPTING THE APPROPRIATION LIMIT
AND ADJUSTMENT FACTORS SELECTED TO CALCULATE THE
LIMIT FOR FISCAL YEAR 1992-93
WHEREAS, the City Council of Lodi is required to adopt the Appropriation Limit; and
WHEREAS, the City Council is required to approve the annual adjustment factors selected to
calculate the Appropriation Limit by recorded vote, and
WHEREAS, the City has selected the California Per Capita Income rate published by the
California Department of Finance and the City of Lodi Population Growth as published by the California
Department of Finance, and
WHEREAS, the Appropriation Limit was not adopted prior to the beginning of the Fiscal Year
due to the State Budget crises which delayed adoption of the State Budget for 64 days after the beginning
of the Fiscal Year, and
WHEREAS, the changes in the State Budget could have significantly impacted the calculation of
the Appropriation Limit.
NOW, THEREFORE the City Council of the City of Lodi adopts the Appropriation Limit for
Fiscal Year 1992-93 of $34,027,028 and the inflation factor of .9936 and population growth factor of
1.0175 used to calculate the Limit.
Dated: October 7, 1992
I do hereby certify that Resolution No. 92- 169 was passed and adopted by the City council of
the City of Lodi in a regular meeting held October 7, 1992 by the following vote:
AYES: Council Members - Hinchman, Pennino, Sieglock, Snider
and Pinkerton (Mayor)
NOES: Council Members - None
ABSENT: Council Members - None
O� 'ol
Alice M. Reimche
City Clerk
92-169