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A. It shall be the duty and function of the planning commission to prepare and submit to the city council by November 1 of each year a "capital budget" for the ensuing year, together with a long range capital improvement program covering a period of time which, in the opinion of the planning commission, bears a rational relationship to present and future needs.
B. The capital budget shall be prepared in sufficient detail so that it may be adopted in whole or in part by the city council as a part of the annual budget as required by law.
C. The long range capital improvement program shall be prepared with the broad purpose in view of facilitating the systematic, orderly and economical development of public improvements in accordance with the master plan and in scale with the ability to pay for such improvements.
D. Such capital improvement program shall consist of a comprehensive list of carefully selected and coordinated capital improvements, which are or will be needed within the time period covered by the program. Such list shall be arranged in order of priority of execution and shall contain estimates of the probable cost of each improvement, method of financing and other pertinent information which, in the opinion of the planning commission, bears relation to said improvements. (Ord. 2010-05, 10-12-2010)