(a) All departments under the direction of the Mayor shall prepare and submit to Council a five year capital program at least three months prior to the final date for submission of the department’s annual budget. The capital program shall include the following:
(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) The program shall be updated annually.
(b) It shall be the responsibility of the Village Finance Committee to do the following:
(1) Obtain cost estimates, methods of financing, and recommended time schedules for each proposed capital improvement or project.
(2) Estimate the annual cost of operating and maintaining the facilities or equipment to be constructed or acquired pursuant to the proposed capital expenditure.
(c) Council of the Village of North Baltimore shall publish in one (1) or more newspaper of general circulation in the Municipality a general summary of the Capital Program together with a notice stating the following:
(1) The time and place where copies of the capital program will be made available for inspection by the public.
(2) The time and place, for a public hearing on the Capital Program, not less than two weeks after such publication.
(3) Council shall adopt the Capital Program with or without amendment after the public hearing, by resolution. Council shall adopt the agreed upon capital program plan by resolution, no later than December 31, of the year prior to the year that said proposed Capital Program is to go into effect.
(Ord. 98-45. Passed 7-7-98.)