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service on the annual operating 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 antic- <br /> ipated program of public services. It shall include a list of all capital im- <br /> provements proposed to be undertaken during the next five fiscal years, with <br /> appropriate supporting information as to the necessity for such improvements; <br /> cost estimate, method of financing and recommended time schedule for each such <br /> improvement; and the estimated annual cost of operating and maintaining the <br /> facilities to be constructed or acquired. This information shall be revised and <br /> extended each year for capital improvements still pending or in process. <br /> Subd. 4. A long-term Revenue Program. This program shall consist of a tent- <br /> ative revenue policy which describes long-term plans for financing public services <br /> and capital improvements. <br /> Subd. 5. The Capital Budget. This program shall be a summary of the basis <br /> of a five year period of the capital or money requirements for the above described <br /> programs. It shall list a priority for each anticipated investment in community <br /> facilities and balance this with a consideration of the availability of necessary <br /> revenues. <br /> Sub. 6. A summary of the long-term financial plan shall be given in a city <br /> newsletter. <br /> Sec. 7.06. Council Action on Budget. <br /> Subdivision 1. The budget shall be considered at the first regular monthly <br /> meeting of the council in September and at subsequent meetings until a budget is <br /> adopted for the ensuing year. The meetings shall be so conducted as to give <br /> -20- <br />