§ 6. Capital budget.

(a)

Not later than the first day of November of each year, every budgeted agency of the city shall submit to the director of policy and management an estimate of the capital expenditures required in each of the next three fiscal years. The estimates shall be in such form and supported by such information as the director of policy and management shall prescribe. The director of policy and management shall review such estimates and shall develop, after consultation with the department of finance, a draft capital budget which shall consist of two parts: first, a three year capital improvement plan listing the capital projects required in each of the next three years; and second, an annual element listing programs to be funded during the next fiscal year and the source of such funding. The draft capital budget shall be submitted to the mayor not later than the first Tuesday in February annually.

(b)

Not later than the first Tuesday in March of each year, the mayor shall submit a proposed capital budget to the city council. Such proposed capital budget shall contain the same elements as the draft capital budget and shall also identify those projects to be funded from the general fund budget and those which are to be funded from other sources.

(c)

The city council shall solicit suggestions, comments and recommendations from city officials and the members of the public regarding the proposed capital budget and shall conduct at least one public hearing.

(d)

Not later than the first Tuesday in May, the city council shall adopt the annual element of the capital budget, including a statement of the funding sources for all projects included in the annual element, and shall make such changes in the five year plan as it considers appropriate. The city council shall include in the general fund budget of the city sufficient funds to support all projects identified in the capital budget as being funded from such general fund.

(e)

The city council may, by ordinance, prescribe the type and dollar value of the projects to be included in the draft capital budget, the proposed capital budget and the adopted capital budget.

(f)

Any provision of this charter to the contrary notwithstanding, no bonds of the city shall be issued in support of any project which is not included in the capital budget unless a statement of the need for such project is first (a) signed by the mayor and filed with the city clerk; or (b) adopted by an affirmative vote of two-thirds of the whole number of council members.