7-6-616. Capital improvement program. A county or municipal governing body may provide for a capital improvement program for the replacement, improvement, and acquisition of property, facilities, or equipment that costs in excess of $5,000 and that has a life expectancy of 5 years or more. The capital improvement program must be formally adopted by the county or municipal governing body. The capital improvement program may receive funds from up to 10% of one or more property tax levies and may receive funds from any source.

     History: En. Sec. 8, Ch. 278, L. 2001.