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• <br /> It shall measure the objectives and needs for each city department, the standard <br /> ' <br /> of services desired, and the impact of each such service on the annual operating <br /> budget. <br /> Subd. 3. The Capital Improvement Plan. This program shall consist of projects <br /> and facilities that are or will be needed by the city in carrying out the anticipated <br /> program of public services. It shall include a list of all capital improvements <br /> proposed to be undertaken during the next five fiscal years, with appropriate <br /> supporting information as to the necessity for such improvements; cost estimate, <br /> method of financing and recommended time schedule for each such improvement; and <br /> the estimated annual cost of operating and maintaining the facilities to be constructed <br /> or acquired. This information shall be revised and extended each year for capital <br /> improvements still pending or in process. <br /> Subd. 4. A Long-term R Program. This program shall consist of a tentative <br /> yam e policy which describes long-term plans for fiaanang public services and <br /> capital improvements. <br /> Subd. 5. The Capital Budget. This program shall be a summary of the basis of <br /> ' '\, a five eing year period of the capital or money requirements for the above de- <br /> scribed-programs. It-shall-list a-priority for each--ant icipated--inve stmentin <br /> community facilities and balance this with a consideration of the availability of <br /> necessary revenues. y�-1 <br /> Subd. 6. = . -- - -_ t_- - , the council shall cause to <br /> v be mailed to residents of the city a summary of the features of the long-term <br /> , financial plan prepared as provided in subdivisions 2 - 5 of this section. The <br /> summary shall be set forth in language designed to be readily understood by the <br /> layman. <br /> • <br /> -3- <br />