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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, ALAMEDA <br /> <br /> RESOLUTION NO. 04-024 <br /> <br />RESOLUTION ADOPTING FISCAL YEAR 2004-05 APPROPRIATIONS <br />LIMIT <br /> <br />WHEREAS, <br /> <br />Article XIIIB of the State of California Constitution (Proposition 4 on the <br />November 6, 1979 ballot) requires that each year the governing body of each local <br />agency establish its appropriations limit for the following year; and <br /> <br />WHEREAS, <br /> <br />Proposition 111, passed by the voters in June of 1990, expands the choices for <br />making annual adjustments to the appropriations limit based on various growth <br />factors; and <br /> <br />WHEREAS, <br /> <br />the City Council has determined that the growth factors of (1) the percentage <br />change in the City population, and (2) the percentage change in the local <br />assessment roll due to local nonresidential construction will be used to establish <br />the 2004-05 appropriation limit; and <br /> <br />WHEREAS, selecting these growth factors will result in a new limit for 2004-05 of <br /> $274,879,551. <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES <br />AS FOLLOWS: <br /> <br />Section 1: <br /> <br />The Proposition 111 growth factors selected for 2004-05 for determining the <br />City's Proposition 4 appropriations limit are (1) the percentage change in the City <br />population and, (2) the percentage change in the local assessment roll due to <br />nonresidential construction. <br /> <br />Section 2: The appropriation limit for fiscal year 2004-05 is $274,879,551. <br /> <br />Section 3: This resolution shall become effective immediately upon its passage and adoption. <br /> <br /> <br />