The governing body of each local government whose budget includes any expenditure for the acquisition or maintenance of a capital improvement shall annually prepare a plan for capital improvements which conforms with its master plan and which includes at least the 3 ensuing fiscal years but not more than 20 fiscal years. The plan for capital improvements must identify:
1. Costs that the local government expects to incur; and
2. Sources of revenue that the local government will use,
to acquire, maintain, operate and replace capital improvements.
(Added to NRS by 1989, 188; A 1989, 768; 1999, 2124)