[Adopted as Art. XXXIII of the General Bylaws]
The Select Board shall establish and appoint a committee to be known as the "Capital Improvement Committee," composed of not more than five voting citizens of the Town of Southampton, each member to serve a three-year term. Upon adoption of this bylaw, there shall be appointed by the Select Board two members to serve for a term of one year, two members to serve for a term of two years, and one member to serve for a term of three years. The Committee shall elect its own officers.
A. 
The Committee shall study proposed capital projects and improvements involving major tangible assets or projects which are purchased or undertaken at intervals of not less than one year, have a useful life of at least one year or cost $5,000 or more. Such a capital improvement program, after its adoption, shall permit the expenditure on projects included therein of sums from departmental budgets for surveys, architectural or engineering advice, options or appraisals.
B. 
All department heads, boards and committees shall, by October 1 of each year, give to the Committee on forms prepared by it information concerning all anticipated projects requiring Town Meeting action during the ensuing five years.
C. 
The Committee shall consider the relative need, impact, timing and cost of these expenditures and the effect each will have on the financial position of the Town. No appropriation shall be voted for a capital expenditure requested by a department, board or commission unless the proposed capital improvement is considered in the Committee's report, or the Committee shall first have submitted a report to the Select Board explaining the omission.
The Committee shall prepare an annual report recommending a capital improvement budget for the next fiscal year and a capital improvement program including recommended capital improvements for the following five fiscal years. The Board shall submit its capital budget to the Annual Town Meeting for adoption by the Town after joint review with the Finance Committee of funding available for capital budgets.