§ 406a.
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§ 406a. Capital improvement plan
(a)Preparation and submission. The Manager, after consultation with department heads, shall submit a proposed five-year capital improvement plan to the council at least three months prior to the annual meeting.
(b)Contents. The capital expenditure plan shall include:
(1)a clear narrative summary of needs;
(2)a list of all capital expenditures to be proposed for the next five years with appropriate supporting data;
(3)actual cost estimates, proposed methods of financing, and necessary time schedules for each improvement; and
(4)estimated annual cost of operating and maintaining the facilities to be constructed or acquired.
(c)Revision and update. The capital expenditure plan shall be revised and extended each year to reflect progress or projects still pending. (Added 2021, No. M-15 (Adj. Sess.), § 2, eff. May 24, 2022.)