§ 4.08. Capital improvements budget.

(a)

On or before date fixed by the city council, but not later than thirty (30) days after the beginning of each fiscal year, the city manager shall submit to the city council a proposed capital improvements budget with his recommendations as to the means of financing the improvements proposed for the ensuing fiscal year. The city council shall have the power to accept with or without amendments or reject the proposed programs and proposed means of financing.

(b)

The mayor and council shall adopt the final capital improvements budget for the ensuing fiscal year not later than August 30th of each year. No appropriations provided for in the capital improvements budget shall lapse until the purpose for which the appropriation was made shall have been accomplished or abandoned; provided the city manager may submit amendments to the capital improvements budget at any time during the fiscal year, accompanied by his recommendations thereof. Any such amendments to capital improvements budget shall become effective only upon adoption by the city council.