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<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 /> <br />Policy <br /> <br />Cl 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 /> <br />Cl The City will establish a General Plant Replacement Fund to provide for non-vehicular <br />equipment replacement; i.e., mowers, tools, etc. Funding should equal the amount of <br />accumulated depreciation recorded on all general governmental equipment including <br />annual fund interest earnings <br /> <br />Cl 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 AC replacement. <br /> <br />Cl 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 MSA 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 /> <br />Cl The City shall establish a Park Improvement Fund to provide for the general <br />replacement of parks and related infrastructure throughout the community. The funding <br />should equal the amount of accumulated depreciation recorded on all park system <br />assets. <br /> <br />Cl Within each enterprise fund, the City shall establish a funding mechanism to provide for <br />the general replacement of related infrastructure throughout the community. The <br />funding should equal the amount of accumulated depreciation recorded on all enterprise <br />fund system assets. <br /> <br />Cl From time to time the City Council shall establish additional replacement funds as the <br />need and funding ability becomes available <br />