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Section 7.05. Capital improvement program. <br />The manager shall prepare and submit to the council a recommended five-year <br />capital i�nnprovement program no later than June 1 each year. The capital improvement <br />program shall include a list of all capital improvements proposed to be undertaken during <br />the next five fiscal years, with appropriate supporting information as to the necessity for <br />such improvements; cost estimaEes, method of financing and recomtnended time <br />schedules �ox each such improvement; and the estimated annual cost of operating and <br />maintaining the facilities to be constructed or acquired. This information shall be revised <br />and e�ended each year for capital improvements stiil pending or in process. The council <br />shall hold a public hearing on the capital improvement program and adopt it with or <br />without anoendment no later than August 15_ <br />Section 7.06. Council action on budget. <br />The budget sha11 be considered at the first regular manthly meeting of the council <br />in Septezx►ber and at subsequent meetings until a budget is adopted for the ensuing year. <br />The meetings sha1l be so conducted as to give interested citizens a reasonable opportunity <br />to be heard. The council may revise the proposed budget but no annendment to the <br />budget shall increase the authorized expenditures to an amount greater tha.n the estimated <br />092000.doc 24 <br />