2003-061-Establishing The 2003/04 Fiscal Year Appropriation Limit For The Town Of Los GatosRESOLUTION 2003 - 61
RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS
ESTABLISHING THE 2003/04 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 2003/04
Fiscal Year Appropriation Limit:
• County population adjustments for 2003/04, plus 1.0079 (One point zero zero seven nine
percent)
• Town population adjustments for 2003/04, plus 1.0010 (One point zero zero one zero
percent)
• Per Capita Personal Income change for 2003/04, plus 1.0231 (One point zero two three one
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 2003/04 Fiscal Year Appropriation Limit for the Town of Los Gatos as:
$21,397,082 (Twenty One Million, Three Hundred Ninety Seven Thousand, Eighty Two
Dollars).
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of
Los Gatos, California, held on the 2nd day of June, 2003 by the following vote:
COUNCIL MEMBERS:
AYES: Steve Glickman, Diane McNutt, Joe Pirzynski, Mike Wasserman,
Mayor Sandy Decker
NAYS: None
ABSENT: None
ABSTAIN: None
SIGNED:
YOR ,OF THE TOWN OF LOS GATOS
> GATOS, CALIFORNIA
ATTEST:
CLERK OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA