The intent of this chapter is to set up procedures and guidelines for
establishing and implementing a six-year capital program and a one-year capital
budget, which budget consists of the first year of the six-year program.
The Town Board shall appoint a Capital Projects Committee consisting
of the Town Supervisor, the Highway Superintendent, the Town Engineer, Recreation
Superintendent and the Director of Planning. Such Committee shall meet upon
the call of the Supervisor to receive and review capital projects and recommend
a six-year capital program and a one-year capital budget to the Town Board.
The Town Board shall review the recommendations on the proposed capital
program and capital budget and shall adopt, after review and revision, if
any, a capital program and capital budget.
The capital budget as adopted by the Town Board shall be included in
the preliminary and final budget adopted by the Town Board under the required
provision of law relating to the adoption of the budget.
For the purposes of this chapter, the "capital program," as used herein,
is defined as follows:
A. Any physical betterment or improvement, including furnishings,
machinery, apparatus or equipment for such physical betterment or improvement
when first constructed or acquired;
B. Any preliminary studies and surveys relating to any physical
betterment or improvement;
C. Land or rights in land; or
D. Any combination of Subsections
A,
B and
C.
Nothing in the chapter shall be construed to authorize the town to incur
indebtedness for which obligations may be issued except as provided by the
Local Finance Law.