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B. Source of Funds <br /> Fund 154—CIP 3 $ 309,000 <br /> Community Development Block Grant $ 76,148 <br /> Total Estimated Funds $ 385,148 <br /> This appropriation shall not lapse, but shall be carried forward from year to year until <br /> fully expended or the purpose has been accomplished or abandoned without the necessity <br /> 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 the <br /> remainder of this ordinance shall not be affected as a result of said part being <br /> unconstitutional or invalid. <br /> ,;, , I ,� <br /> Ray S£ihanson, Mayor <br /> ATTEST: <br /> City Clerk <br /> Passed: 2/14/05 <br /> Valid: 2/17/05 <br /> Published: 2/19/05 <br /> Effective Date: 3/4/05 <br /> S:\#Common\Administration\COUNCIL\354 029 Ordinance.doc <br />