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ip 28 Capital Replacement Policy 2,29 2-3' 0 Purnosle 2 -) -unding ni.echan*sm for i-nuch of the city's " 1 The Roseville City Council has set in place a stable f 1 1 232 infra,structurie. The intent of the Council in havincy Replacement Policies is to provide for easing 233 the burden on both present and future taxpayers and to assure the replacement of the city's 234 infrastructure in a manner that is both fiscally and operationally prudent. 235 236 The priiinary purpose of this policy is to have specific resources set aside on a periodic basis, to 23 7' create funding for the n-iaJor equipment and infrastructure needs of the community, without 238 encountering major tax increases for maintenance and replacement. 239 2,40 It is not the intent of the City Council to fund maj new facilities, which have not had the 241 original funding established either through tax increment,,, general taxes or other such sources. 24,2 The replacement funds are expected to be only for replacement purposes. (See the 2431 Implementation section below) 244 245 P1 2,416 2,47 0 The City will establish a General v,-Chicle Replacement Fund and a Fire Vehicle 24,8 Replacement Fund. The City will appropriate funds to the annually to provide for 24,9 timely replaccia-lent of vehicles. The amount will be maintained at an amount equal to 250 the accumulated depreciation including amival fund 'interest earnings to provide for 251 vehicle replacement 252 2 5 3) L) The City will establish a General Plant Replacemcnt Fund to provide for non-vehicular 254 equipment riqplacement; i.e., mowers, tools, etc. Funding should equal lbe. amount, of 255 accumulated depreciation recorded on all general governmental equipment including 256 annual fund, interest earnings 257 258 J The City will establish a Building Replacenient Fund, and will appropriate funds to it 259 amivally to provide for timely maintenance of all buildings and plants supported by 260 general govertul-iental funding. Maintenw-ice includes inaior items such as roof repair 261 and HVAC replacement. 262 2, 1 6 33 L) The City shall establish a Street Infrastructure Replacement Fund to provide for the 2614 general replacement of streets and related 'infrastructure throughout the community. 2615 The funding should equal the amount of accumulated depreciation recorded on all 266 general goveriunental streets and related structures including annual fund interest 267 earnings. the annual MS capital allocation, 1 will be included as part of the source of 268 funds for computing the adequacy of this fund.. This Fund has been formally 269, categorized by the Council as a permanent fund, whereby only the interest proceeds are 270 used each year for the stated purpose. The original principal amount renia- ins intact 271 272 i U The City shall establish a Park Improvement Fund to provide for the general 27'3 replacen-ient of parks and related infrastructure throughout the community. The funding