19660 2/17/26 RESOLUTION No. 2026-003 A RESOLUTION

19660 2/17/26 RESOLUTION No. 2026-003 A RESOLUTION OF THE TOWN OF PAYSON PROPOSING AN EXTENSION OF THE ALTERNATIVE EXPENDITURE LIMITATION. WHEREAS, THE ARIZONA STATE CONSTITUTION PERMITS THE SUBMISSION TO THE VOTERS OF A CITY OR TOWN OF AN ALTERNATIVE EXPENDITURE LIMITATION; AND WHEREAS, THE VOTERS OF THE TOWN OF PAYSON IN 2022 ADOPTED AN ALTERNATIVE EXPENDITURE LIMITATION; AND WHEREAS, THE TOWN COUNCIL OF PAYSON AFTER TWO PUBLIC HEARINGS HAS DETERMINED THAT AN EXTENSION OF THE ALTERNATIVE EXPENDITURE LIMITATION IS NECESSARY FOR THE TOWN OF PAYSON. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF PAYSON THAT THE FOLLOWING ALTERNATIVE EXPENDITURE LIMITATION BE SUBMITTED TO THE VOTERS OF THE TOWN OF PAYSON. SHALL THE FOLLOWING BE ADOPTED BY THE TOWN OF PAYSON AS AN ALTERNATIVE EXPENDITURE LIMITATION? "THE MAYOR AND COMMON COUNCIL OF THE TOWN OF PAYSON SHALL ANNUALLY, AS PART OF THE ANNUAL BUDGET ADOPTION PROCESS, ADOPT AN ALTERNATIVE EXPENDITURE LIMITATION EQUAL TO THE TOTAL AMOUNT OF BUDGETED EXPENDITURES/EXPENSES AS IT APPEARS ON THE ANNUAL BUDGET AS ADOPTED BY THE COUNCIL TO APPLY TO THE TOWN OF PAYSON FOR EACH OF THE FOUR FISCAL YEARS IMMEDIATELY FOLLOWING ADOPTION OF THE ALTERNATIVE EXPENDITURE LIMITATION. THE ALTERNATIVE EXPENDITURE LIMITATION SHALL BE ADOPTED EACH YEAR AFTER A PUBLIC HEARING AT WHICH THE CITIZENS OF THE TOWN OF PAYSON MAY COMMENT ON THE PROPOSED ALTERNATIVE EXPENDITURE LIMITATION. NO EXPENDITURES MAY BE MADE IN VIOLATION OF SUCH ALTERNATIVE EXPENDITURE LIMITATION, NOR MAY ANY PROPOSED EXPENDITURES BE IN EXCESS OF ESTIMATED AVAILABLE REVENUES, EXCEPT THAT THE MAYOR AND THE COMMON COUNCIL MAY, BY THREE-FOURTHS VOTE, DECLARE AN EMERGENCY AND SUSPEND THE ALTERNATIVE EXPENDITURE LIMITATION. THE SUSPENSION OF THE ALTERNATIVE EXPENDITURE LIMITATION SHALL BE IN EFFECT FOR ONLY ONE FISCAL YEAR AT A TIME" PASSED AND ADOPTED BY THE TOWN COUNCIL OF PAYSON, THIS 11TH DAY OF FEBRUARY, 2026. AYES ___7___ NOES ___0___ ABSTENTIONS _0_____ ABSENT ____0__ s/s Steve Otto, Mayor ATTEST: s/s Tracie Bailey, Town Clerk APPROVED AS TO FORM: s/s Christina Estes-Werther, Town Attorney