§ 33.098  VALUATION OF CAPITAL ASSETS.
   (A)   Generally, the cost recorded for each capital asset shall be the purchase price or construction cost of the asset, but shall also include any other reasonable and necessary costs incurred to place the asset in its intended location ready for its intended use.
   (B)   Such costs could include the following:
      (1)   Legal and title fees, closing costs;
      (2)   Appraisal and negotiation fees, surveying fees;
      (3)   Damage payments;
      (4)   Land preparation costs, demolition costs;
      (5)   Architect, engineering, and accounting fees;
      (6)   Insurance premiums during construction; and
      (7)   Transportation charges, interest costs during construction.
   (C)   Donated or contributed assets should be recorded at the fair market value of the item donated on the date of the donation.
(Ord. 2016-13, passed 9-29-2016)