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RES-2015-208RESOLUTION NO. 2015-208 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM, CALIFORNIA, ADOPTING THE COMMUNITY FACILITIES DISTRICT NO. 06-2 (STADIUM LOFTS) ANNUAL APPROPRIATIONS LIMIT FOR THE FISCAL YEAR 2015/16. WHEREAS, the voters of California on November 6, 1977, added Article XIII B to the State Constitution placing various limitations on the appropriations of the state and local governments; and WHEREAS, Article XIII B of the State Constitution provides that the appropriations limit for fiscal year 2015/16 is calculated by adjusting the 2014/15 fiscal appropriations limit for changes in the cost of living and population except as otherwise provided in said Article XIII B; and WHEREAS, the information necessary for making these adjustments is attached in Exhibits A through D; and WHEREAS, the City of Anaheim has complied with all the provisions of Article XIII B of the State Constitution in determining the Community Facilities District No. 06-2 (Stadium Lofts) appropriations limit for fiscal year 2015/16. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Anaheim that the Community Facilities District No. 06-2 (Stadium Lofts) appropriations limit for fiscal year 2015/16 be established in the amount of $16,144,600.00. BE IT FURTHER RESOLVED that the City Council of the City of Anaheim, by recorded vote of the City Council adopting this resolution, hereby determines and selects that, with regard to fiscal year 2015/16 and the calculations specified herein for such fiscal year, the term "change in the cost of living" for purposes of Section 8(e)(2) of Article XIII B of the Constitution of the State of California shall mean the percentage change in the California per capita personal income from the preceding year. BE IT FURTHER RESOLVED that the City Council of the City of Anaheim, by recorded vote of the City Council adopting this resolution, hereby determines and chooses that, with regard to fiscal year 2015/16 and the calculations specified herein for such fiscal year, the term "change in population" for purposes of Article XIII B of the Constitution of the State of California and Division 9 of Article 1 of the Government Code of the State of California shall mean the change in population within the City of Anaheim. BE IT FURTHER RESOLVED that said appropriations limit herein established may be changed as deemed necessary by resolution of the City Council. THE FOREGOING RESOLUTION IS PASSED, APPROVED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF ANAHEIM THIS SIXTEENTH {16TH} DAY OF JUNE, 2015, BY THE FOLLOWING ROLL CALL VOTE: AYES: Mayor Tait and Council Members Kring, Murray, Brandman, and Vanderbilt NOES: None ABSENT: None ABSTAIN: None CITY OF ANAHEIM By: MAOR OF THE CITY OF ANAHEIM ATTE CITY CLERK OF THE CITY OF ANAHEIM 109931 FY 2015/16 APPROPRIATIONS LIMIT COMMUNITY FACILITIES DISTRICT NO. 06-2 (STADIUM LOFTS) EXHIBIT A CALCULATIONS & COMPARISON OF APPROPRIATIONS SUBJECT TO LIMIT FY 2014/15 Adopted Appropriations Limit Adjustment Factor 1.04733616 FY 2015/16 Appropriations Limit FY 2015/16 Appropriations Limit FY 2015/16 Appropriations Subject To Limit FY 2015/16 Appropriations Limit Margin FY 2015/16 Appropriations Limit Margin, As a Percent of Limit $15,414,917 $16,144,600 $16,144,600 28,275 $16,116,325 99.82% FY 2015/16 APPROPRIATIONS LIMIT COMMUNITY FACILITIES DISTRICT NO. 06-2 (STADIUM LOFTS) EXHIBIT B ADJUSTMENT FACTORS POPULATION - Selected Factor: City Population Growth Population count provided by the State Finance Department 351,416 Population percent change pursuant to Sections 2227 and 2228 of the Revenue and Taxation Code 0.88% PRICE FACTOR - Selected Factor: California Per Capita Personal 3.82% Income Growth POPULATION AND PRICE FACTOR CONVERTED TO AN ADJUSTMENT FACTOR A) Population: Converted to a factor 1.0088 B) Price Factor: Converted to a factor 1.0382 Ratio of change: A x B = 1.04733616 FY 2015/16 APPROPRIATIONS LIMIT COMMUNITY FACILITIES DISTRICT NO. 06-2 (STADIUM LOFTS) EXHIBIT C APPROPRIATIONS SUBJECT TO LIMIT CALCULATION Total All Revenues $606,265 Reduce by Non -Proceeds of Taxes 0 $606,265 Add User Fees in Excess of Costs 0 606,265 Add User Fees in Replacement of Taxes 0 606,265 Subtract Debt Service Appropriations 577,990 $28,275 Total Revenues Available for Expenditure Appropriation $606,265 Reduce by Non -Proceeds of Taxes 0 $606,265 Subtract Debt Service Appropriations 577,990 28,275 Appropriations Subject to Limit $28,275 FY 2015/16 APPROPRIATIONS LIMIT COMMUNITY FACILITIES DISTRICT NO. 06-2 (STADIUM LOFTS) EXHIBIT D PROCEEDS OF TAXES CALCULATION PROCEEDS NON -PROCEEDS OF TAXES OF TAXES TOTAL Taxes $606,265 $0 $606,265 State Subventions 0 0 0 Service Charges 0 0 0 Permit Fees 0 0 0 Fines and Forfeitures 0 0 0 Rentals 0 0 0 Sales 0 0 0 Refunds and Reimbursements 0 0 0 Internal Service Charges 0 0 0 Federal and County Subventions 0 0 0 Contributions 0 0 0 Subtotal $606,265 $0 $606,265 Interest 0 0 0 Total Revenues $606,265 $0 $606,265 Use of (Contribution to) Fund Balances 6,500 Grand Total $612,765