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A. Estimated Project Design Costs <br /> Design $122,500 <br /> Design development contingency 20% $ 24,000 <br /> Total Estimated Design Costs $146,500 <br /> B. Source of Funds <br /> CIP 4 $146,500 <br /> C. The 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 re-appropriation. <br /> Section 5: The City Treasurer of the City of Everett is hereby authorized to negotiate a <br /> reasonable rate of interest and obtain temporary financing to satisfy interim construction <br /> costs. Temporary financing shall be redeemed as soon as reimbursement is received. <br /> Section 6: Serverability. If any provision of this ordinance shall be declared <br /> unconstitutional or invalid by any court of competent jurisdiction, it shall be conclusively <br /> presumed that this ordinance would have been enacted without the provision so held <br /> unconstitutional or invalid and the remainder of this ordinance shall not be affected as a <br /> result of said part being unconstitutional or invalid. <br /> CITY OF EVERETT <br /> Aetill444191 - <br /> Ra O ephanson, Mayor <br /> Attest: <br /> Sarerar-Irs, Ci y Clerk r2"- <br /> Passed: 12/19/07 U <br /> Valid: 12/21/0.7 <br /> Published: 12/27/07 <br /> Effective: 1/5/08 <br />