What is the duration for contracts awarded under the general capital fund?

For contracts awarded under the general capital fund, the correct duration is typically up to 5 years. This duration allows municipalities the flexibility to plan and execute capital projects effectively over a reasonable timeframe, accommodating the complexities and resources involved in such undertakings. Capital projects often require longer planning and implementation phases due to their nature, which can include construction, infrastructure improvements, and significant purchases.

The option stating that it is typically 1 year does not align with the customary practice for capital projects, as these often extend beyond a single fiscal year. The discretion of the governing body, while it allows some flexibility, does not provide a specific duration for capital fund contracts, making it less suitable as a definitive answer. Lastly, stating "not applicable" does not pertain to the nature and requirements surrounding capital fund contracts, as there are established practices and guidelines regulating their duration.