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18 <br /> B. Source of Funds <br /> STPE (Federal) Grant $400,000.00 <br /> Fund 301 —Arterial Streets 102,835.00 <br /> Total Estimated Funds $502,835.00 <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 /> RAY STEPHANSON,Mayor <br /> A l-1'FST: <br /> CITY CLERK <br /> Passed: <br /> Valid: <br /> Published: <br /> Effective: <br /> g1/wo2697 <br /> 58 <br />