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B. Source of Funds <br /> STPE-0420(018)-Federal Grant $ 100,000.00 <br /> CM-STPE-0420(018)-Federal Grant 517,969.00 <br /> Fund 119-Street Improvements 83,583.00 <br /> Total Estimated Funds $ 701,552.00 <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 /> Section 7: Repealer. <br /> Ordinance No. 2972-07 is hereby repealed. <br /> i <br /> RAY 11 P • SON, Mayor <br /> ATTEST: <br /> CITY CLERK <br /> Passed: 12-18-11 <br /> Valid: 1/03/12 <br /> Published: 1/06/12 <br /> Effective: 1/18/12 <br />