§ 9-5. Capital Program.

(a)

The Town Manager shall prepare and submit to the Council a proposed five-year capital program at least two months prior to the final date for submission of the proposed budget.

(b)

The proposed 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 five fiscal years next ensuing, in order of recommended priority, with appropriate supporting information as to the necessity for the improvement;

(3)

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

(4)

The estimated annual cost of operating and maintaining the facilities to be constructed or acquired, and the proposed method of financing such costs.

(c)

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