The Board of Legislators must adopt the capital budget, as well as the operating budget, for the ensuing year no later than December twenty-seventh. The County Executive has item veto power over increases made by the Board. A two-thirds vote of all members of the Board is required to override. The purchase of equipment for any public improvement or betterment when first erected or acquired. Such properties may include office buildings, land to serve as buffers to existing County facilities, etc.
Priority is given to projects of a life-safety nature.
Projects financed by debt are to be amortized over their probable useful life as defined in state law. The County reserves the right to issue bonds for these projects for less than the allowed useful life. Capital project progress is monitored throughout the year and related cash flow requirements provide the Commissioner of Finance with the basic information for the timing of bond sales during the year. Bond Anticipation Notes are to be used to provide funds for those capital projects which could not be sold during the fourth quarter of the previous year but which will require cash resources during the first three quarters of the year in which the notes are sold. These notes should have maturities of less than a year and should be converted to long term debt during the fourth quarter of the year in which they were sold.