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A. Estimated Project Costs <br /> Design Phase $1,676,300.00 <br /> Total Estimated Cost $1,676,300.00 <br /> B. Source of Funds <br /> STP - Federal Grant $1,450,000.00 <br /> Fund 119— Street Improvements 226,300.00 <br /> Total Estimated Funds $1,676,300.00 <br /> C. This appropriation shall not lapse, but shall be carried forward from year to year <br /> until fully expended or the purpose has been accomplished or abandoned without <br /> the necessity of reappropriation. <br /> Section 5: <br /> The City Treasurer of the City of Everett is hereby authorized to negotiate a reasonable rate of <br /> interest and obtain temporary financing to satisfy interim construction costs. Temporary <br /> 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 court of <br /> competent jurisdiction, it shall be conclusively presumed that this ordinance would have been <br /> enacted without the provision so held unconstitutional or invalid and the remainder of this <br /> ordinance shall not be affected as a result of said part being unconstitutional or invalid. <br /> I / <br /> RAY SToi ANSO ayor <br /> ATT T: <br /> ( IL -- n� — <br /> CI Y CLERK <br /> Passed: 11/2/11 <br /> Valid: 11/07/11 <br /> Published: 11/1 0/11 <br /> Effective: 11/2 2/11 <br /> W03472 Ord <br />