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Capital Replacement PoUcy <br />Ppmose <br />The Roseville City Council has set in place a stable funding mechanism for much of the citys <br />0 <br />infrastructure. The intent of the Council in having Replacement Policies is to provide for easing the <br />burden on both present and future taxpayers and to assure the replacement of the City's infrastructure in a <br />mnner that is both fiscally and operationally prudent, <br />The primary purpose of this policy is to have specific resources set aside on a pehodic basis, to create <br />funding for the major equipment and infrastructure needs of the co lunity, without encounterm'g major <br />L 4 <br />tMx increases for maintenance and replacement. <br />Ft is not the intent of the City Council to fand major new facilities, which have not had the original <br />funding established either through tax increment, general taxes or other such sources. The replacement <br />funds are expected to be only for replacement purposes. (See the hnplementation section below) <br />Poligy <br />E3 The City will establish a General Vehicle Replacement Fund and a Fire Vehicle Replacement <br />Fund. The City will appropriate funds to them annually to provide for timely replacement of <br />vehicles. The amount will be maintained at an arnount equal to the accumulated depreciation <br />including annual ftmd interest earnings to provide for vehicle replacement <br />W The City will establish a General Plant Replacement Fund to provide for non-vehiculato <br />equipment replacement; i.e., mowers, tools, etc. Funding should equal the amount of <br />accumulated depreciation recorded on all general governmental equipment including annual <br />fand 'interest earnings <br />U The City will establish a Bung Replacement Fund, and will appropriate funds to it annually <br />to provide for timely maintenance of all buildings and plants supported by general <br />governmental funding. Maintenance includes major items such as roof repair and HVAC <br />replacement. <br />D The City shall establish a Park linprovement Fund to provide for the general replacement • <br />parks and related infrastructure throughout the community. The ftmding should equal th <br />amount of accumulated depreciation recorded on all park system assets. i <br />