§ 705.

177 words·~1 min read·/vt/705-5

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

§ 705. Capital improvement plan

(a)Submission to Council. The Manager shall prepare and submit to the Council a five-year capital improvement program at least 60 days prior to the final date for submission of the budget.

(b)Contents. The capital improvement program shall include:

(1)a clear general summary of its contents;

(2)a list of all capital improvements that are proposed to be undertaken during the five fiscal years next ensuing with appropriate supporting information as to the necessity for such improvements;

(3)cost estimates, method of financing, and recommended time schedules to be constructed or acquired; and

(4)a complete list of all capital assets, a depreciation and replacement schedule, and a five-year repair and replacement plan.

(c)Revisions and extensions. The information in this section may be revised and extended each year with regard to capital improvements still pending or in process of construction or acquisition. (Added 2013, No. M-9, § 3, eff. June 4, 2013; amended 2015, No. M-19 (Adj. Sess.), § 2, eff. May 17, 2016; 2017, No. 74, § 115.)