5.07 Capital Program.

(a) The city manager shall annually prepare and submit to the council a five-year capital program at the same time budget recommendations for the next succeeding fiscal year are submitted to the council by the city manager.

(b) The capital program shall include:

1. A clear, general summary of its contents.

2. A list of all capital improvements which are proposed to be undertaken during the five fiscal years next ensuing, with appropriate supporting information as to the necessity for such improvements.

3. Cost estimates, method of financing, and time schedules for each such improvement.

4. The estimated annual cost of operating and maintaining facilities to be constructed or acquired.

(c) The above information may be revised and extended each year with regard to capital improvements still pending or in process of construction or acquisition.