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2008_0225_packet
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2008_0225_packet
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Capital Replacement Pol cy <br />Purpose <br />The Roseville City Council has set in place a stable funding mechanism for much of the city's <br />infrastructure. The intent of the Council in having Replacement Policies is to provide for easing <br />the burden on both present and future taxpayers and to assure the replacement of the city's <br />infrastructure in a manner that is both fiscally and operationally prudent. <br />The primary purpose of this policy is to have specific resources set aside on a periodic basis, to <br />create funding for the major equipment and infrastructure needs of the community, without <br />encountering major tax increases for maintenance and replacement. <br />It is not the intent of the City Council to fund major new facilities, which have not had the <br />original funding established either through tax increment, general taxes or other such sources. <br />The replacement funds are expected to be only for replacement purposes. (See the <br />Implementation section below) <br />Ll The City will establish a General vehicle Replacement Fund and a Fire vehicle <br />Replacement Fund. The City will appropriate funds to them annually to provide for <br />timely replacement of vehicles. The amount will be maintained at an amount equal to <br />the accumulated depreciation including annual fund interest earnings to provide for <br />vehicle replacement <br />Ll The City will establish a General Plant Replacement Fund to provide for non- vehicular <br />equipment replacement; i.e., movers, tools, etc. Funding should equal the amount of <br />accumulated depreciation recorded on all general governmental equipment including <br />annual fund interest earnings <br />Ll The City will establish a Building Replacement Fund, and will appropriate funds to it <br />annually to provide for timely maintenance of all buildings and plants supported by <br />general governmental funding. Maintenance includes major items such as roof repair <br />and Hv.0 replacement. <br />Ll The City shall establish a Street Infrastructure Replacement Fund to provide for the <br />general replacement of streets and related infrastructure throughout the community. <br />The funding should equal the amount of accumulated depreciation recorded on all <br />general governmental streets and related structures including annual fund interest <br />earnings. The annual MSS capital allocation, will be included as part of the source of <br />funds for computing the adequacy of this fund. This Fund has been formally <br />categorized by the Council as a permanent fund, whereby only the interest proceeds are <br />used each year for the stated purpose. The original principal amount remains intact <br />Ll The City shall establish a Park Improvement Fund to provide for the general <br />replacement of parrs and related infrastructure throughout the community. The funding <br />VA <br />
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