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• <br /> RESOLUTION NO. / 7 7,../ <br /> A RESOLUTION for the allocation of funds for undergrounding <br /> overhead utilities along the alley East of Colby, Pacific <br /> Avenue to North of Hewitt Avenue. <br /> WHEREAS, the owners of property as shown on attached Exhibit A <br /> have expressed a desire to underground overhead utilities and are <br /> willing to pay all cost associated with undergrounding of overhead <br /> utilities; and <br /> WHEREAS, the Public Utility District No. 1 of Snohomish County has <br /> adopted Resolution No. 1977 allocating two (2) percent of their gross <br /> revenue within governmental units for the purpose of participating fifty <br /> percent of the cost of undergrounding facilities; and <br /> WHEREAS, there is currently available for the first half of fiscal <br /> year 1979 from the District the sum of $261,480.55 for participation in <br /> projects for the City of Everett; and <br /> WHEREAS, the P.U.D. No. 1 proposed to contribute an estimated <br /> $134,830.00 as its share of cost pursuant to their Resolution No. 1977; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br /> EVERETT that an estimated amount of $134,830.00 is hereby committed from <br /> the P.U.D. No. 1 allocation of funds under their Resolution No. 1977 for <br /> the purpose of undergrounding overhead power lines in the area as shown <br /> on Exhibit A. Providing a deposit is made with the City Treasurer <br /> covering all other additional cost covering the undergrounding of such <br /> utilities. <br /> 4;10145i/F".2.—) <br /> Councilman Introducing Resolution <br /> Passed and approved this /7 day of /'7,9 / , 1980. <br /> f . 11:4 11. Mir ---- <br /> Council President <br />