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Section 3: <br /> Authorization is hereby granted for the "Public Works Director" , under the <br /> direction of the Mayor, to assume full and complete responsibility for <br /> conducting all tasks and doing all things to accomplish the actions <br /> authorized in this ordinance. <br /> Section 4: <br /> The sum of $1,500,000 is hereby appropriated to Fund 394, "Southwest Everett <br /> Intersection Improvements" as follows: <br /> A. Estimated Project Costs <br /> Predesign $ 65,000 <br /> Design 205,000 <br /> Construction 1,230,000 <br /> Total Estimated Cost $1,500,000 <br /> B. Source of Funds <br /> Fund 157 (Traffic Mitigation Fund) $ 300,000 <br /> Fund 158 (Boeing Mitigation Fund) 1,200,000 <br /> Total Estimated Funds $1,500,000 <br /> C. This appropriation shall not lapse, but shall be carried forward <br /> from year to year until fully expended or the purpose has been <br /> accomplished or abandoned without the necessity of reappropriation. <br /> Section 5: <br /> The City Treasurer of the City of Everett is hereby authorized to negotiate <br /> a reasonable rate of interest and obtain temporary financing to satisfy <br /> interim construction costs. Temporary financing shall be redeemed as soon <br /> as reimbursement is received. <br /> Section 6: <br /> Severability. If any provision of this ordinance shall be declared <br /> unconstitutional or invalid by any court of competent jurisdiction, it shall <br /> be conclusively presumed that this ordinance would have been enacted without <br /> 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 <br /> unconstitutional or invalid. <br /> �_� <br /> ey <br /> PETE KINCH, Ma or <br /> ATTEST: <br /> `• /2/aAida <br /> City Clerk .w <br /> Passed: /8/gt <br /> Valid: 9/9/92 <br /> Published: 4 /472- <br /> s1m1487.2 <br />