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300 <br />301 <br />302 <br />303 <br />304 <br />305 <br />306 <br />307 <br />308 <br />309 <br />310 <br />311 <br />312 <br />313 <br />314 <br />315 <br />❑ Within each enterprise fund, the City shall establish a funding mechanism to provide for the <br />general replacement of related infrastructure throughout the community. The funding should <br />equal the amount of accumulated depreciation recorded on all enterprise fund system assets. <br />❑ From time to time the City Council shall establish additional replacement funds as the need and <br />funding ability becomes available <br />❑ The City should periodically review and follow industry - recommended replacement schedules for <br />all City capital assets. <br />Implementation <br />The City shall use replacement funds to assist in the replacement of equipment, vehicles, and building <br />maintenance. New equipment or buildings are to be funded from new dollars, unless they are designated to <br />replace currently depreciated assets. Funds from the replacement funds may be used up to the amount <br />available from depreciation of the replaced asset. Any additional funding shall be from new sources. <br />Page 10 of 13 <br />