1997-061-Establishing The 1997-98 Fiscal Year Appropriation Limit For The Town Of Los GatosRESOLUTION 1997 - 61
RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS
ESTABLISHING THE 1997 -98 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 1995 -96
fiscal Year Appropriation Limit as $13,016,370 (Thirteen Million
Dollars) as adjusted; and Sixteen Thousand, Three Hundred Seventy
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
reflect the appropriate statistics relevant to th voters in June 1990, as audited,
e calculation of the 1997 -98 Fiscal Year Appropriation Limit;
County population adjustments for 1998, plus 1.0216 (One point two
Town population adjustments for 1998, plus one six percent) 1.0201 (One point zero two zero one percent)
Per Capita Personal Income change for 1997 -98, plus 1.0467 (One point zero four six seven percent).
THEREFORE, BE IT RESOLVED, based on the foregoing figures and the provisions of Article
XI11B of the Constitution of the State of California, the following figure accurately represents the 1997 -98
Fiscal Year Appropriation Limit for the Town of Los Gatos as calculated by the Town's independent auditors,
Maze and Associates: $15,844,131 (Fifteen Million, Eight Hun
Dollars.) dred Forty -Four, One Hundred Thirty -One
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos,
California, held on the 16th day of June, 1997 by the following vote:
COUNCIL MEMBERS:
AYES: Randy Attaway, Steven Blanton, Jan Hutchins, Linda Lubeck,
Mayor Joanne Benjamin
NAYS: None
ABSENT: None
ABSTAIN: None I
SIGNED:
tll( �s
MAYOR OF THE OWN OF OS GATOS
ATTEST: i-OS GATOS, CALIFORNIA
C
CLERK OF THE TOWN OF WS GATOS
LOS GATOS, CALIFORNIA