A. Submission to Council.
The City Manager shall prepare and submit to Council a five (5) year Capital Improvement Plan, or revision thereto, at least one (1) month prior to the final date for submission of the tax budget to the Council.
B. Contents.
The Capital Improvement Plan shall include:
(1) A clear, general summary of its contents;
(2) a list of all capital improvements which are proposed to be undertaken during the five (5) fiscal years next ensuing, with appropriate supporting information as to the necessity for such improvements;
(3) cost estimates, methods of financing and recommended time schedules for each improvement; and
(4) the estimated annual cost of operating and maintaining the facilities to be constructed or acquired.
C. Adoption by Council.
The Council, by ordinance or resolution, shall adopt the Capital Improvements Plan, with or without amendment, prior to adoption of the tax budget. The Capital Improvements Plan shall be advisory only and shall not affect the validity of any tax budget and shall not prevent the Council from undertaking capital improvements, or the issuance of debt therefore, which are not shown in or are inconsistent with the Capital Improvements Plan.