(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 to the Council.
(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 fiscal years next ensuing, with appropriate supporting information as to the necessity for such improvements;
(3) Cost estimates, method 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 by the Manager and extended each year with regard to capital improvements still pending or in process of construction or acquisition.
(c) Adoption of the Council. The Council by resolution shall adopt the capital program with or without amendment prior to adoption of the budget.
(Amended, eff. 12-30-93)