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2025
<br />Budget Adjustments
<br />Tally Sheet
<br />Department Code Rev Exp FB
<br />NGA-16 CIP-3 CIP-3 Parks Projects 154A 2,375,159 (2,375,159)
<br />Increase M&O expenditures - CIP-3 154 5354010550 2,375,159
<br />Reduce ending fund balance - CIP-3 154 5990000490 2,375,159
<br />Department Code Rev Exp FB
<br />NGA-17 Debt Service Fund 2025 Limited Tax General Obligation Bonds, Series A 210A 21,535,046 21,535,046
<br />NGA-17 CIP-2 2025 Limited Tax General Obligation Bonds, Series A 162A 16,796,610 16,796,610
<br />Increase bond principal proceeds 210 3930281000 19,995,000
<br />Increase bond premium proceeds 210 3920281000 1,540,046
<br />Increase bond underwriter's discount 210 5120281890 483,237
<br />Increase bond issuance cost 210 5120281890 105,199
<br />Increase transfers-out Debt Service, EMB Tenant Improvement 210 5120281550 16,796,610
<br />Increase transfers-out Debt Service, Edgewater Bridge 210 5120281550 4,150,000
<br />Increase transfers-in CIP-2, EMB Tenant Improvement 162 3971050000 16,796,610
<br />Increase ending fund balance, EMB Tenant Improvement 162 5500999490 16,796,610
<br />Department Code Rev Exp FB
<br />NGA-18 Debt Service Fund 2025 Limited Tax General Obligation Bonds, Series B 210A 6,150,786 6,150,786
<br />Increase bond principal proceeds 210 3930282000 5,780,000
<br />Increase bond premium proceeds 210 3920282000 370,786
<br />Increase bond underwriter's discount 210 5120282890 70,516
<br />Increase bond issuance cost 210 5120282890 30,410
<br />Increase transfers-out, Eclipse Mill Park 210 5120282550 4,400,000
<br />Increase transfers-out, Lowell Riverfront Trail 210 5120282550 1,649,860
<br />This amendment increases the CIP 3 expenditure budget for the following projects:
<br />--$15,159 Edgewater Park Renovation as approved by Ordinance No. 4089-25
<br />--$100,000 Thornton A. Sullivan Dock Repair Work as approved by Ordinance No.4084-25
<br />--$345,000 Drew Nielsen Playground Replacement as approved by Ordinance No.4075-25
<br />--$990,000 Parks Restroom Renovation as approved by Ordinance No.4068-25
<br />--$575,000 Lowell Park Playground Replacement as approved by Ordinance No.4080-25
<br />--$50,000 Forest Park Entry Driveway Repave as approved by Ordinance No.4079-25
<br />--$300,000 Park Restrooms Access Control as approved by Ordinance No.4081-25
<br />The City issued LTGO Bonds Series A to finance the Everett Municipal Building Tenant Improvement and Edgewater Bridge Replacement projects.The bonds were sold
<br />at auction on April 22, 2025.The true interest cost (TIC) on the new bonds is 4.43%. This amendment will provide the budget authority to account for the transaction
<br />and to transfer the bond proceeds to the designated projects as authorized by Ordinance No. 4082-25
<br />The City issued LTGO Bonds Series B to finance the Later Phase Eclipse Mill Park and Lowell Riverfront Trail Improvement projects.The bonds were sold at auction on
<br />April 22, 2025.The true interest cost (TIC) on the new bonds is 4.37%. This amendment will provide the budget authority to account for this transaction as authorized by
<br />Ordinance No. 4082-25.
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