Capital Improvements. For the purpose of this chapter and any plan adopted under authority of this chapter, "capital improvements" means the creation or acquisition of any tangible asset, including, but not limited to, buildings, streets, water and sewer systems, items of equipment, and parks and other real property, or the major maintenance, repair, or betterment of any tangible asset, including, but not limited to, city buildings, streets, water and sewer systems, items of equipment, and parks and other real property owned or controlled by the city.
Capital Improvements Plan. For the purpose of this chapter, "capital improvements plan" means a multiyear plan, updated annually, that contains the city's capital improvement projects and the recommended methods of funding these projects.
(Ord. 873 § 2, 2008)
The city shall develop and adopt a multiyear capital improvements plan. This capital improvements plan shall effectuate the goals expressed in the capital improvements section of the city's comprehensive plan. Any capital improvements plan adopted by the city may authorize expenditures to be made during the same budget year in which the plan is adopted. The capital improvements plan shall be adopted following a public hearing and opportunity to comment by the public.
(Ord. 873 § 3, 2008)