Not later than June 1 of each year, each Department shall provide, for information purposes only, to the Mayor and Commerce, Energy and Natural Resources Committee (the “Committee”) of the Council (or such successor committee as shall be deemed appropriate by the Council) and to the Controller, a capital plan or budget covering at least the next fiscal year describing:
i) the proposed capital expenditures of that Department,
ii) the proposed method(s) of financing such proposed expenditures including a discussion, if relevant, of financing alternatives, and
iii) a description of any proposed debt financings.
This transmittal is intended to provide the Mayor, Committee and Council with background information which may be useful to them in evaluating resolutions, if any, authorizing the issuance of Revenue Bonds for the Department which may be presented to the Council during the next fiscal year. Notwithstanding the foregoing, the Council shall have the authority to take any action pursuant to this Article 6.5 of the Administrative Code whether or not the Committee has previously received a capital plan or budget from such Department for that fiscal year.
SECTION HISTORY
Added by Ord. No. 172,353, Eff. 1-30-99.
Amended by: Ord. No. 173,234, Eff. 6-19-00, Oper. 7-1-00.