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II. THE FIVE YEAR CAPITAL IMPROVEMENT PROGRAM <br /> (Capital items are at least $500 or have a useful life of at least five years.) <br /> In 1989 the city developed a five year capital improvement program to be <br /> financially prepared to replace and improve its infrastructure, parks, public <br /> safety equipment, public works equipment and community building and <br /> administrative facilities. As part of this plan, funds from the city's reserves <br /> were assigned to specific capital funds to implement these projects. <br /> Following the development of this five year capital improvement program, <br /> the city implemented a number of needed major capital improvement <br /> projects and capital purchases between 1989 and 1994. A summary list of <br /> these projects follows. <br /> Given the substantial accomplishments in the city's capital improvements <br /> and equipment over the past five years, staff prepared a five year capital <br /> improvement program for 1995 that reflects the need to continue with the <br /> maintenance of the city's parks, infrastructure and equipment within the <br /> existing capital funds. It also incorporates opportunities for using other <br /> available funds and for rebuilding the city's capital for continued activities <br /> whenever possible. <br /> Finally, the five year capital improvement program is flexible and will change <br /> each year. The items proposed for the 1995 budget reflect anticipated <br /> needs. Items will not be purchased if the need does not arise during the <br /> year. <br /> 7 <br />