(a) The Mayor shall, each year upon presentation of the City's annual tax budget to Council, outline for Council his extended capital improvement needs for the ensuing tax budget year.
(b) It shall be the policy of Council that an expenditure for any property asset or improvement meeting the City's capitalization criteria as certified and established by the Director of Finance in the City's fixed assets policies shall be considered a capital expenditure and shall be funded through the issuance of unvoted bond anticipation notes or unvoted bonds unless Council authorizes another method of funding through appropriation ordinance or otherwise.
(Ord. 24-1992. Passed 3-16-92; Ord. 153-2021. Passed 12-6-21.)