(A) The city establishes a Capital Improvements Program. The purpose of said program is to establish an orderly program of capital equipment replacement based on the replacement costs, service and life expectancy of such equipment. The Capital Improvement Program will be established under the following conditions:
(1) That the program be set up on a 5-year schedule and budgeted to anticipate an orderly replacement of capital equipment;
(2) That the data for this program will be the basic equipment and maintenance records of the public utility;
(3) That the program be reviewed annually, as part of the Sewer Service Charge System, to ensure that the program schedule and budget is coordinated and adjusted in accordance with subsection (1);
(4) That the estimated annual equipment replacement costs, to be established by Council resolution, will be transferred from the Sewer Rental Fund to the Capital Facilities and Equipment Replacement Fund.
(Ord. 73, passed 3-3-1986)