§ 6.19. Capital budget.

At the same time that he submits the current expense budgets, the city manager shall submit to the council a program previously acted upon by the city planning commission, as provided in Chapter 17 of this Charter, of proposed capital improvement projects, including schools, as defined in section 7.02 of this Charter, for the ensuing fiscal year and for the four (4) fiscal years thereafter, with his recommendations as to the means of financing the improvements proposed for the ensuing fiscal year. This program shall be termed the "capital budget" and may be adopted by resolution. Whenever the revenue for financing any capital improvement project or projects is to be derived from the sale of bonds, the bond ordinance need not be introduced at the time of submission of the capital budget, but any appropriations for any project or projects, to be so financed shall be contingent upon the issuance of such bonds being authorized in accordance with section 7.06 of this Charter. The council shall have power to accept, with or without amendments, or reject, the proposed program and proposed means of financing for the ensuing fiscal year but, except in the case of emergency as provided in subsection (d) of section 2.02 of this Charter, and except to meet needs for capital improvements arising out of annexation of additional territory taking effect during the current or preceding fiscal year and except to meet needs for capital improvements which could not reasonably have been foreseen at the time of adoption of the capital budget, the council shall not authorize any capital improvement project or make any appropriation therefor unless the appropriation for such project is included in the capital budget as adopted by it. The council shall take final action on the capital budget and on any revenue or appropriation ordinance submitted therewith, not later than the twenty-eighth day after the adoption of the general fund budget. The council shall in no event adopt a capital budget in which the total of expenditures for the ensuing fiscal year exceeds the estimated receipts unless at the same time it adopts measures for providing additional revenue in the ensuing fiscal year sufficient to make up the difference. No appropriation for a capital improvement project contained in the capital budget shall lapse until the purpose for which the appropriation was made shall have been accomplished or abandoned, provided that any project shall be deemed to have been abandoned if three (3) fiscal years elapse without any expenditure from or encumbrance of the appropriation therefor. Any such lapsed appropriation shall be applied to the payment of any indebtedness incurred in financing the project concerned, and if there be no such indebtedness shall be available for appropriation in the next capital budget.

(Acts 1960, ch. 429; Acts 1992, ch. 513)

(Acts 1960, ch. 429; Acts 1992, ch. 513)