(a) The Selectboard and the school directors shall submit to the annual Representative Town Meeting a list of possible capital expenditures for the next five years for the guidance and information of Representative Town Meeting which shall not be binding on either the Selectboard or the school directors. Such list, which shall not be regarded as indicative of intent, should specify possible and preferred methods of financing such capital expenditures and the estimated annual cost of operating and maintaining the facilities to be constructed or acquired. It may be revised and expanded each year with regard to capital improvements still pending or in process of construction or acquisition.

(b) No capital expenditure by the Town shall be made or submitted for action at Representative Town Meeting without prior consideration of the Selectboard.

(c) No capital expenditure by the Town School District shall be made or submitted for action at a Town School District Meeting without prior consideration of the school directors. (Amended 2003, No. M-6, § 2; 2011, No. M-10 (Adj. Sess.), § 2, eff. April 27, 2012.)