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B. Source of Funds <br /> TIB Grant - State $ 500,000 <br /> Fund 157 - Traffic Mitigation $ 130,000 <br /> Fund 301 -Arterial Streets $ 120,000 <br /> Total Estimated Funds $ 750,000 <br /> C. This appropriation shall not lapse, but shall be carried forward from year to <br /> year until fully expended or the purpose has been accomplished or <br /> abandoned without the necessity of reappropriation. <br /> Section 5: <br /> The City Treasurer of the City of Everett is hereby authorized to negotiate a reasonable <br /> rate of interest and obtain temporary financing to satisfy interim construction costs. <br /> Temporary financing shall be redeemed as soon as reimbursement is received. <br /> Section 6: Severability. <br /> If any provision of this ordinance shall be declared unconstitutional or invalid by any <br /> court of competent jurisdiction, it shall be conclusively presumed that this ordinance <br /> would have been enacted without the provision so held unconstitutional or invalid and <br /> the remainder of this ordinance shall notb= affected as a result of said part being <br /> unconstitutional or invalid. <br /> Li/ <br /> a41401 <br /> EDW W • D. H A NSEN, Mayor <br /> ATTEST: <br /> Lh�v <br /> CI CLERK <br /> Passed: 8-23-00 <br /> Valid: 8-25-00 <br /> Published: 8-31-00 <br /> Effective: 9-9-00 <br /> gl/wo2966 <br />