§ 149-43. Capital expenditure program
(a) Preparation and submission: The Manager, after consultation with department heads, shall submit a proposed five-year capital expenditure program to the Board of Selectmen at least three months prior to Town meeting.
(b) Contents:
(1) The capital expenditure program shall include:
(A) A clear narrative summary of needs;
(B) A list of all capital expenditures to be proposed for the next five years with appropriate supporting data;
(C) Actual cost estimates, proposed methods of financing, and necessary time schedules for each improvement;
(D) Estimated annual cost of operating and maintaining the facilities to be constructed or acquired.
(c) Revision and update: The above program shall be revised and extended each year to reflect progress or projects still pending.
(d) Inclusion in annual budget: A summary of the capital expenditure program shall be included in the annual budget with special emphasis on the expenditures for the particular year.
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