For the purpose of this subchapter the following definitions shall apply unless the context clearly indicates or requires a different meaning.
CAPITAL ASSET. Land, improvements to land, easements, buildings, building improvements, vehicles, machinery, equipment, works of art and historical treasures, and all other tangible assets that are used in operations and have initial useful lives extending beyond a single reporting period.
INFRASTRUCTURE ASSET. Long-lived capital assets that normally are stationary in nature and normally can be preserved for a significantly greater number of years than most capital assets. Examples include roads, bridges, tunnels, drainage systems, water and sewer systems, dams and lighting systems.
(Ord. 11, 2001, passed 4-23-01; Am. Ord. 7, 2021, passed 4-26-21)