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CapftW Fxueea <br />a. Capital improvements financed by County enterprise foods (i.e., solid waste) shall be <br />financed by: <br />1. Debt to be repaid by user fees and charges and/or connection or capacity fees for <br />enterprise services. <br />2. Current assets (i.e., reserves, equity or surpluses, and current revenue, including <br />grams, loans, donations and interlocal agreements). <br />3. A combination of debt and current assets. <br />b. Capital improvements financed by non- enterprise fiords sball be fmaneed from either <br />current assets: (i.e., current revenue, farad equity and reserves), or debt, or a combination <br />thereof. Financing decisions shall include consideration for which fturding source <br />(current assets, debt, or both) will be a) most cost effective, b) consistent with prudent <br />asset and liability management, c) appropriate to the useful life of the project(s) to be <br />financed, and d) the most efficient use of the County's ability to borrow fiords. <br />c. Debt financing shall not be used to provide more capacity than is needed within the <br />schedule of capital improvements fru non -enterprise public facilities Mess one of the <br />following conditions are met: <br />1. The excess capacity is an integral part of a capital improvement that is needed to <br />achieve or maintain standards for levels of service (i.e., the minimum capacity of <br />a capital project is larger than the capacity required to provide the level of <br />service). <br />2. The excess capacity provides economics of scale making it less mmmrsive than a <br />comparable amount of capacity if acquired at a later date. <br />3. The asset acquired is land that is environmentally sensitive, or designated by the <br />County as necessary for conservation, or zecreation. <br />4. The excess capacity is part of a capital project financed by general obligation <br />bonds approved by referendum. <br />GPO 5.14 Operating and Maintenance Costs. The County shall not provide a public facility, nor <br />shall it accept the provision of a public facility by others, ifthe County or other provider is unable <br />to pay for the subsequent annual operating and maintenance costs of the facility. <br />GPD 5.15 Revenues Requiring Referendum In the event that sources of revenue require voter <br />approval in a local refemdum tbat has not been held, and a ref nndum is not held, or is held and <br />is not successful, this Comprehensive Plan sball be revised at the next annual amendment to <br />adjust for the lack of such revenues, in any of the following ways: <br />a Reduce the level of service for one or more public facilities. <br />b. Increase the use of other sources of revenue. <br />c. Decrease the cost, and therefore the quality of some types of public facilities while <br />retaining the quantity of the facilities that is inheres in the standard for level of service. <br />CL Decrease the demand for and subsequent use of capital facilities. <br />e. Combination of the above alternatives. <br />OPO 5.16 Uncommitted Revenue. All development permits issued by the County which require <br />capital improvements that will be financed by sources of revenue which have not been approved <br />or implemented (such as future debt requiring referenda) shall be conditioned on the approval or <br />implementation of the indicated revenue sources, or the substitution of a comparable amount of <br />revenue from existing sources. <br />GPO 5.17 Shared Funding. The County and Cities may j oWy sponsor the formation of Local <br />Improvement Districts, Road Improvemerrt Districts, and other benefit areas for the construction <br />or reconstruction of infrastructure to a common standard, which are located in the City and the <br />Urban Growth Areas. <br />Kifflas County December 2016 <br />Comprehensive Plan 5.11 <br />