§ 9.4. Capital Program

A)

The Town Manager, with such assistance as is desired or as the Council may direct, shall prepare and submit to the Council a long-range capital program, prior to or concurrent with the submission of the recommended budget.

B)

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 life of such long-range capital programs, with appropriate supporting information as to the necessity for the improvement;

3)

Cost estimates, method of financing, and recommended schedules for each improvement; and

4)

The estimated annual cost of operating and maintaining the facilities to be constructed or acquired.

C)

This information may be revised or extended each year with regard to capital improvements still pending or in process of construction or acquisition.