Chapter 4.05
CAPITAL PROJECTS FUND
Sections:
4.05.020 Establishment of fund.
4.05.040 Adoption of legislative priorities, capital improvement plan.
4.05.070 Submission of legislative priorities, capital improvement plan.
4.05.010 Definitions.
As used in this chapter:
A. “Capital project fund” means a fund to be used only for capital projects, including planning, designing, engineering and associated costs.
B. “Six-year capital improvement plan” means an annual update and long-range need projection of the city included as a part of the annual budget.
C. “Legislative priorities” means an annual compilation of the city’s capital projects formulated after public hearings for presentation to the State Legislators and Governor. (Ord. 85-2 § 3 (part), 1985; Ord. 14-04 § 2 (part), 2014.)
4.05.020 Establishment of fund.
There shall be established a capital projects fund beginning July 1, 1985. Monies for this fund will be from unappropriated reserves or other sources in an amount the council deems appropriate. (Ord. 85-2 § 3 (part), 1985.)
4.05.030 Annual transfer.
Annually at the adoption of the fiscal budget a portion of the anticipated unappropriated reserve may be transferred to this fund. (Ord. 85-2 § 3 (part), 1985.)
4.05.040 Adoption of legislative priorities, capital improvement plan.
The council shall hold public hearings annually in conjunction with the adoption of legislative priorities. The six-year capital improvement plan shall be held in conjunction with the annual budget public hearings. (Ord. 85-2 § 3 (part), 1985; Ord. 14-04 § 2 (part), 2014.)
4.05.050 Use of funds.
The council may authorize expenditures from the capital projects fund for planning, design and engineering at any time for capital improvements program. A commitment of funds may be made by the council to be used for the entire share or the local share requirement. (Ord. 85-2 § 3 (part), 1985.)
4.05.060 Other projects.
After the legislative priorities and capital improvements program have been adopted after public hearings, all additional projects that may qualify for the capital projects fund monies shall receive a public hearing to determine eligibility prior to their appropriation to support capital projects. (Ord. 85-2 § 3 (part), 1985.)
4.05.070 Submission of legislative priorities, capital improvement plan.
The six-year capital improvement plan shall be submitted annually in June as a part of the fiscal budgeting process. The preliminary legislative priority list shall be submitted to the council by the first Thursday of August. (Ord. 85-2 § 3 (part), 1985; Ord. 14-04 § 2 (part), 2014.)