RESOLUTION NO. _____________
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE ESTERO MUNICIPAL IMPROVEMENT DISTRICT ESTABLISHING THE FISCAL YEAR 2024-2025
APPROPRIATIONS LIMIT PURSUANT TO ARTICLE XIIIB OF THE CALIFORNIA
CONSTITUTION
ESTERO MUNICIPAL IMPROVEMENT DISTRICT
WHEREAS, voters of California have approved Propositions 4 and 111 which place various limitations on the appropriations of local government; and WHEREAS, said Article XIIIB of the California Constitution requires the governing body of each agency to adopt an appropriations limitation for each fiscal year; and WHEREAS, the Assistant Finance Director, pursuant to Article XIIIB and enacted legislation, has duly computed said appropriations limitation for FY 2024-2025 and submitted same to the District Board for review and public hearing; and WHEREAS, notice of said public hearing was published and posted and said public hearing was held on August 5, 2024; and
WHEREAS, the inflation adjustment factor used for calculating the FY 2024-2025 appropriations limit is the percentage change in local assessment roll from the preceding year due to the addition of local non-residential construction; and WHEREAS, the population adjustment factor used for calculating the FY 2024-2025 appropriations limit is the change in population growth for San Mateo County.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Estero Municipal Improvement District that the amount of $87,701,837 is hereby adopted as the District’s appropriations limitation for FY 2024-2025.
PASSED AND ADOPTED as a resolution of the Board of Directors of the Estero Municipal Improvement District at the Regular Meeting held on the 5th day of August, 2024 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
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PATRICK SULLIVAN, PRESIDENT
ATTEST:
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PRISCILLA SCHAUS, DISTRICT SECRETARY