[Adopted 2-7-1966 (Ch. 2, Art. III, Div. 3, of the 1985 Code of Ordinances]
Editor's Note: State law reference - Reserve funds, G.L. 1956, § 45-11-1.
For the purpose of this article, the following terms shall have the meanings indicated:
- CAPITAL IMPROVEMENT PROJECT
- Shall include the following:
- A. The acquisition of land;
- B. The lease of land or buildings;
- C. The acquisition or construction of buildings or facilities, including preconstruction, survey and engineering costs;
- D. The improvement, expansion or reconstruction of existing buildings or facilities in excess of normal maintenance work; and
- E. The purchase of items of equipment which have a useful life in excess of five years and which have a cost in excess of $1,000.
On or before November 1 of each year the following Town departments and agencies shall submit requests for capital improvement projects to the Smithfield Planning Board in accordance with the procedures outlined in the "Capital Budget Manual of Procedure" published by the Smithfield Planning Board:
In addition to the above-named departments and agencies the Smithfield School Department and the Smithfield Recreation Association are invited to participate in this program by submitting their requests for capital improvement projects in the manner prescribed above.
In formulating the program for capital improvements the Planning Board shall establish a priority list of proposed projects. Such a priority list shall be based on the general needs of the community with due regard for:
The Planning Board shall collaborate with the Town Treasurer to ascertain the financial resources of the Town and to determine the most appropriate methods of financing the projects to be recommended in the program.
On or before January 15 of each year the Planning Board and the Town Treasurer shall forward to the Town Council a jointly recommended capital improvement program covering the subsequent six-year period. The section covering the approaching fiscal year shall be designated as the "capital budget."
At least 30 days prior to the date of the annual financial Town meeting, the Planning Board and the Town Treasurer shall publish the recommended capital improvement program and capital budget. Copies shall be made available to the general public through the office of the Town Clerk.