2008-069- Establishing The 2008-09 Fiscal Year Appropriation Limit For The Town Of Los GatosRESOLUTION 2008-069
RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS
ESTABLISHING THE 2008/09 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 2008/09 Fiscal Year Appropriation Limit:
1. County population adjustments for 2008/09, plus 1..0172 (One point zero, one, seven, two percent)
2. Town population adjustments for 2008/09, plus 1.0318 (One point zero, three, one, eight percent)
3. Per Capita personal income change for 2008/09, plus 1.0429 (One point zero, four, two, nine 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 2008/09
Fiscal Year Appropriation .Limit for the Town of Los Gatos as: $28,426,367 {Twenty Eight Million, Four
Hundred Twenty Six Thousand, Three Hundred Sixty Seven Dollars).
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos,
California, held on the 2"`~ day of June 2008 by the following vote;
COUNCIL MEMBERS:
AYES: Steve Glickman, Diane McNutt, Joe Pirzynski, Mike Wasserman, and Mayor
Barbara Spector
NAYS:
ABSENT:
ABSTAIN:
SI NED:
~ Clwlnq
MAYOR OFT E TOWN OF LOS GATOS
LOS GATOS CALIFORNIA
TTEST:
CL RIC OF THE TOWN OF LOS GATOS
LOS OS, CALIFORNIA