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• <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 $ 50,000 <br /> Design 220,000 <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 /> PETE KING , ay•r <br /> ATTEST/ <br /> IV / 4 diiax <br /> City Cle k aV <br /> Passed: 4/5142. <br /> Valid: A/.5192-- <br /> Published: .;21/102"- <br /> slm1487.3 <br /> /S/92-Published: 1/10Z- <br /> s1m1487.3 <br />