May 18, 2026 Public Notice: At its regularly scheduled meeting on June 2, 2026, the Monterey City Council will consider establishing the Fiscal Year 2026-27 appropriation limit (Gann Initiative).What is the Gann Initiative? The Gann initiative, commonly known as the Gann Limit or State Appropriations Limit, is a California constitutional amendment passed by voters in 1979. It restricts how much tax revenue the state and local governments can collect and spend annually, limiting spending growth to adjustments for inflation and population changes.