(a) Submission to Council. The Manager shall prepare and submit to the Council a five (5)-year capital program at least three (3) months prior to the final date for submission of the budget.
(b) Contents. The capital program 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 improvement;
(3) Cost estimates, methods of financing and recommended time schedules for each such improvement; and
(4) The estimated annual cost of operating and maintaining the facilities to be constructed or acquired.
The above information may be revised and extended each year with regard to capital improvements still pending or in process of construction or acquisition.
(c) Capital Improvement Reserve Fund. Council may create and maintain a Capital Improvement Reserve Fund, and may from time to time transfer or appropriate thereto all monies accruing to any other fund of the City not needed for the purposes of such fund and available under law for transfer and also the unencumbered balance remaining in the General Fund of the City at the end of any fiscal year. Monies in the Capital Improvement Reserve Fund shall not be expended for any purpose except to purchase equipment, apparatus, or other property, or to construct buildings, structures, roads and other public improvements needed for the use of the City or for transfer to its bond and interest retirement funds.
(d) Prohibition. Funds of the City shall not be used for an addition to the present City Building, or to build a new Municipal headquarters without voter approval.
(e) Prohibition—Cemeteries. There shall be no cemeteries placed within the present corporation limits of the City of New Carlisle, as such corporation limits existed as of March 1, 2002, without voter approval.
(Amended June 2, 1981; Nov. 3, 1998; Nov. 5, 2002; Nov. 7, 2006)