RESOLUTION NO. 2023-06-xxxx
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SIGNAL HILL, CALIFORNIA, APPROVING AND ADOPTING THE ANNUAL APPROPRIATIONS LIMIT FOR FISCAL YEAR 2023-24 WHEREAS, the voters of California on November 6, 1979, added Article XIII B to the State Constitution placing a restriction on the amount of proceeds of tax revenue which can be appropriated by State and local governments during a fiscal year; and WHEREAS, Article XIII B provides that the appropriations limit for Fiscal Year 2023-24 is calculated by adjusting the actual appropriations of Fiscal Year 1978-79 for changes in the cost of living and population; and WHEREAS, the City Council may choose to use as adjustment factors either the annual growth in California Per Capita Income or the growth in the non-residential assessed valuation due to new construction within the City and the City’s population growth or the population growth of the County of Los Angeles, as provided by the State Department of Finance; and WHEREAS, the City of Signal Hill has complied with all provisions of Article XIII B in determining and establishing the appropriations limit for Fiscal Year 2023-24.
NOW THEREFORE, BE IT RESOLVED, that for Fiscal Year 2023-24 the City of Signal Hill has selected 1) the County population growth for the population factor and 2) the California change in per capita personal income for the inflation factor. The City reserves the right to change the factors selected.
BE IT FURTHER RESOLVED, that the appropriations limit for Fiscal Year 2023-24 shall be $93,693,692 for the City of Signal Hill attached hereto as Exhibit A.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council of the City of Signal Hill, California, on this 27th day of June 2023. ________________________________
LORI Y. WOODS
VICE MAYOR
ATTEST:
DARITZA GONZALEZ
CITY CLERK
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES )ss.
CITY OF SIGNAL HILL )
I, DARITZA GONZALEZ, City Clerk of the City of Signal Hill, California, hereby certify that Resolution No. 2023-06-xxxx was adopted by the City Council of the City of Signal Hill at a regular meeting held on the 27th day of June 2023, and that the same was adopted by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
______________________________
DARITZA GONZALEZ
CITY CLERK
Resolution No. 2023-06-xxxx
June 27, 2023