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B. Source of Funds <br />State Dept. of Commerce Grant <br />PUD Energy Incentives <br />Local Funds (Loan Proceeds) <br />Total Estimated Funds <br />$ 500,000 <br />307,817 <br />1,347,903 <br />2,155,720 <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 the <br />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 />7ATT <br />CITY CLERK <br />Passed: 10/21/2015 <br />Valid: 10/26/2015 <br />Published: 10/30/2015 <br />Effective: 11/10/2015 <br />