§ 7.05. Capital improvement budget.

A.

Each year, no later than the time of submission of the operating budget for the ensuing fiscal year, the president shall submit to the council a capital improvement budget covering a period of at least five (5) years. The amount indicated to be spent during the first year of the capital improvement budget shall be the capital budget for that year.

B.

The capital budget shall include:

(1)

A clear general summary of its contents;

(2)

A list of all capital improvements and acquisitions which are proposed to be undertaken for at least the five (5) fiscal years next ensuing with the appropriate supporting information as to the necessity for such improvements and acquisitions;

(3)

Cost estimates, method of financing and recommended time schedule for each such improvement or acquisition;

(4)

The estimated annual cost of operating and maintaining the capital improvement to be constructed or acquired.

The information shall be revised and extended each year with regard to capital improvements still pending or in the process of construction or acquisition.

C.

At the meeting of the parish council at which the capital improvement budget is submitted, the council shall order a public hearing on such capital improvement budget and shall publish in the official journal, at least ten (10) days prior to the date of such hearing, the time and place of the hearing, a general summary of the proposed capital improvement budget, and the times and places where copies of the proposed capital improvement budget are available for public inspection. At the time and place so advertised, the council shall hold a public hearing on the capital improvement budget as submitted. The capital improvement budget shall be finally adopted not later than the last day of the current fiscal year and following the approval of the operating budget. The capital improvement budget as finally adopted shall be reproduced and sufficient copies shall be made available for use by all offices, departments, and agencies of the parish government.

D.

Amendments to the capital improvement budget adopted pursuant to section 7.05(C) of this Charter may be proposed by either the president or council and shall be by ordinance in accordance with provisions of this Charter.

E.

Any construction project or method of financing a construction project submitted to and rejected by the voters shall not be undertaken for at least one year unless approved by the voters.