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<br />EXTRACT OF MINUTES OF MEETING OF THE <br />CITY COUNCIL OF THE CITY OF ROSEVILLE <br /> <br />* * * * * * * * * * * <br /> <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of <br />Roseville, County of Ramsey, Minnesota was duly held on the 21 st day of May 2007 at 6:00 p.m. <br /> <br />The following members were present: Roe, Kough, Thlan, Pust and Klausing <br />and the following were absent: none. <br /> <br />Member Roe introduced the following resolution and moved its adoption: <br /> <br />RESOLUTION 10504 <br /> <br />RESOLUTION ADOPTING THE CAPITAL IMPROVEMENT POLICY <br />FOR THE CITY OF ROSEVILLE <br /> <br />WHEREAS, the City Council of the City of Roseville, Minnesota desires to establish financial <br />and budget policies that provide for the sustainability of City programs, services and <br />infrastructure; and <br /> <br />WHEREAS, the City Council of the City of Roseville, Minnesota desires to maintain the City's <br />strong financial condition; and <br /> <br />WHEREAS, the City Council of the City of Roseville, Minnesota desires to provide appropriate <br />fiscal and budgeting controls. <br /> <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Roseville, <br />Minnesota, that the following Capital Improvement Policy be adopted and remain in effect until <br />such time that a subsequent policy action is taken. <br /> <br />Capital Improvement Policy <br /> <br />Purpose <br />The purpose of the City's Capital Improvement Policy is to ensure that capital expenditures are <br />well planned and enable the city to replace capital items when needed, without requiring <br />significant fluctuations in the property tax levy. <br /> <br />Scope <br />All departments and City funds are included in the Five-Year Capital Improvement Program <br />(CIP). The CIP identifies the timing and financing of all capital items. <br />