On or before February 15 of each year the City Manager shall submit to the Council a proposed Capital Budget for the next five (5) fiscal years. The Capital Budget shall state:
ANNOTATION: AS AMENDED BY VOTE OF ELECTORS NOVEMBER 7, 2006.
a. A clear summary of its contents.
b. A list of all major capital improvements proposed to be undertaken during the five (5) years ensuing, with appropriate supporting information as to the necessity for such improvements.
c. Cost estimates, methods of financing, and recommended tax schedules for each improvement.
d. Estimated annual costs of operating and maintaining the facilities to be constructed or acquired.