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<br />b. improvements such as trees, shrubs, wells, septic systems, <br />walkways, driveways, fences and other man-made improvements. <br />An improvement must increase the value of the property. <br /> <br />Buildings <br /> <br />a. original cost of acquisition or construction of buildings including <br />installation of heating and ventilating systems, electrical, <br />plumbing, fire protection and other service systems, built-in <br />equipment, paint and other interior or exterior decoration; <br /> <br />b. additions to existing buildings that extend the floor area; <br /> <br />c. improvements that do not extend the floor area but increase the <br />value of the building or extend its useful life by more than three <br />years; <br /> <br />d. amounts paid under installment lease contracts which have a <br />terminal date and result in the acquisition of buildings. <br /> <br />Vehicles <br /> <br />a. original cost of all transport vehicles and trailers that are not <br />classified as equipment and can be registered for use on public <br />highways; <br /> <br />b. amounts paid under installment or lease contracts that have a <br />terminal date and result in the acquisition of the vehicle. <br /> <br />Infrastructure <br /> <br />a. the original cost of street or trail construction, including lighting <br />systems, sidewalks and bridges; <br /> <br />b. the original cost of underground and above-ground utility systems, <br />including water, sanitary sewer and storm sewer. Includes water <br />towers, well houses and lift stations. <br /> <br />2. City Council Approval: <br /> <br />Refers to official action of the city council by motion or resolution, as <br />reflected in the official minutes of the city council. <br /> <br />3. Capital Expenditure: <br /> <br />Purchase of fixed asset(s) as defined by this policy. <br /> <br />2 <br />