(a) The Town Council shall provide for the development and adoption of a capital improvements plan each year.

(b) The plan shall be developed and adopted each year in time to be considered in the preparation and adoption of the Town’s annual budget.

(c) The plan shall at a minimum include significant capital improvement projects, planned or proposed, for the next five (5) years, including estimated costs and sources of revenue proposed to finance such improvements.

(d) Such plan shall be utilized by the Town Council as a guide in drafting and adopting the annual budget.

(e) The capital program shall include the estimated annual cost of operating and maintaining the facilities to be constructed or acquired. (Amended January 17, 2019)