Ordinance 1744-90 - Laserfiche WebLink

ORDINANCE NO . 1744-90 AN ORDINANCE creating a special construction fund entitled " Community Theater" Fund No . 363 and authorizing the plan development, design , construction and lease of this theater to the City of Everett . WHEREAS, the City Council has adopted Resolution No . 3355 on 8/22/90 for the purpose of appointing a Community Theater Design- Build Committee and for the preparation of a financing plan ; therefore and WHEREAS, a project consultant is needed to assist the City in developing a plan and building program for the facilities , and upon completion of the theater , it will be leased to the City of Everett . NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN : Section 1 : A special construction fund is hereby established as Fund No . 363, entitled " Community Theater" to accomplish the actions authorized in the subsequent sections of the ordinance . Section 2 : Authorization is hereby given to provide for hiring a professional consultant to develop a theater plan and to assist the City in all other aspects of implementing the theater project . Section 3 : The total estimated cost of the consultant services herein authorized is $160, 000 . Section 4 : The Finance Director of the City of Everett under the administration of the Mayor is hereby given the responsibility herein . Section 5 : The City Treasurer of the City of Everett under the administration of the Mayor is hereby authorized to negotiate a reasonable rate of interest bearing warrants to satisfy interim construction costs not to exceed $160, 000 . These interest bearing warrants shall be redeemed by the Treasurer as soon as reimbursement or Certificate of Participation , as described elsewhere in this ordinance , are received . Section 6 : A. The sum of $160, 000 is hereby appropriated to Fund 363 ( Program 478) " Community Theater" . B Source of funds : CIP Revenue