1996-077 - Establishing the 1996-97 Fiscal Year Appropriation limit for the Town of Los GatosRESOLUTION 1996 - 77
RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS
ESTABLISHING THE 1996 -97 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 Fourty -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, Sixteen, Three Hundred Seventy 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 1996 -97 Fiscal Year Appropriation Limit:
County population adjustments for 1997, plus 1.08% (One point zero eight percent);
City population adjustments for 1997, plus 1.007% (One point zero zero seven percent);
Per Capita Personal Income change for 1996 -97, plus 1.0467% (One point zero four six seven
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 1996 -97
Fiscal Year Appropriation Limit for the Town of Los Gatos as calculated by the Town's independent auditors,
Maze and Associates: $14,817,172 (Fourteen Million, Eight Hundred Seventeen Thousand, One Hundred
Seventy -two Dollars.)
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos,
California, held on the 17th day of June, 1996 by the following vote:
COUNCIL MEMBERS:
AYES: Joanne Benjamin, Steven Blanton, Linda Lubeck, Patrick O'Laughlin,
Mayor Randy Attaway
NAYS: None
ABSENT: None