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RESOLUTION 61-16 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE TOWN <br /> OF LOS ALTOS HILLS ADOPTING THE FISCAL YEAR <br /> 2015-16 APPROPRIATION LIMIT of$6,071,165 <br /> WHEREAS, the City Council of the Town of Los Altos Hills has adopted an appropriation limit <br /> for fiscal year 2015-16 of$6,081,370 on June 18, 2015; and <br /> WHEREAS, the 2015-16 appropriation limit is recalculated with the correct population factor, <br /> resulting in a reduction in the appropriation limit by$10,205. <br /> NOW THEREFORE, the City Council of the Town of Los Altos Hills does hereby resolve to <br /> approve and adopt an appropriations limit, pursuant to California Constitution Article XIII B, for <br /> fiscal year 2015-16 of$6,071,165 as set forth below: <br /> A. Calculation of 2015-16 Appropriations Limit <br /> Prior Year Appropriation Limit $ 5,782,438 <br /> Annual Change Factors <br /> Cost of living adjustment factors <br /> California per capita personal income(CPCPI) 1.0382 <br /> Population adjustment factors <br /> Town of Los Altos Hills (LAH) 1.0013 <br /> County of Santa Clara (SCC) 1.0113 <br /> Authorized Adjustment Factor <br /> CPCPI X LAH Population change 1.0499 <br /> 2015-16 Appropriation Limit as adjusted <br /> Prior year limit x Authorized Adjustment Factor $ 6,071,165 <br /> The above and foregoing Resolution was passed and adopted by the City Council of the Town of <br /> Los Altos Hills at a regular meeting held on the 20th day of October, 2016 by the following vote: <br /> AYES: Harpootlian, Waldeck, Corrigan, Radford, Spreen <br /> NOES: None <br /> ABSTAIN: None <br /> <br /> ABSENT: None <br /> BY: <br /> john Harpootlian, Mayor <br /> ATTEST: <br /> & <br /> Deborah Padovan, City Clerk <br /> Resolution 61-16 Page 1 <br />