2007-070 - Establishing The 2007/08 Fiscal Year Appropriation Limit For The Town Of Los GatosRESOLUTION 2007 -070
RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS
ESTABLISHING THE 2007/08 FISCAL YEAR APPROPRIATION LIMIT
FOR THE TOWN OF LOS GATOS
WHEREAS, the Town of Los Gatos has established its Base Year appropriation limit as
$5,849,120 (Five Million, Eight Hundred Forty -nine, One Hundred Twenty Dollars); and
WHEREAS, the cumulative appropriate changes to the Town's population, the Consumer Price
Index, and per capita income statewide since the base year established the revised Proposition 111,
1996/97 Fiscal Year Appropriation Limit as $14,714,173 (Fourteen Million, Seven Hundred Fourteen
Thousand, One Hundred Seventy Three Dollars) as adjusted; and
WHEREAS, to the best of this Town's knowledge and belief, the State Department of Finance
figures provided to this Town in response to Proposition 111 passed by the voters in June 1990, as
audited, reflect the appropriate statistics relevant to the calculation of the 2007/08 Fiscal Year
Appropriation Limit:
1. County population adjustments for 2007/08, plus 1.0152 (One point zero, one, five, two percent)
2. Town population adjustments for 2007/08, plus 1.0100 (One point zero, one percent)
3. Per Capita personal income change for 2007/08, plus 1.0442 (One point zero, four, four, two percent).
THEREFORE, BE IT RESOLVED, based on the foregoing figures and the provisions of
Article XIIIB of the Constitution of the State of California, the following figure accurately represents the
2007/08 Fiscal Year Appropriation Limit for the Town of Los Gatos as: $26,416,980 (Twenty Six
Million, Four Hundred Sixteen Thousand, Nine Hundred Eighty Dollars).
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos,
California, held on the 4th day of June, 2007 by the following vote:
AYES: Steve Glickman, Diane McNutt, Barbara Spector, Mike Wasserman, and Mayor Joe
Pirzynski
NAYS: None
ABSENT:
ABSTAIN:
SIGNED: ---y
MAYOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
A EST:
CL DMINISTRATOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA