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Section 5: The City Treasurer of the City of Everett is hereby <br /> authorized to negotiate a reasonable rate of interest and <br /> obtain temporary financing to satisfy interim construction <br /> costs. Temporary financing shall be redeemed as soon as <br /> reimbursement is received. <br /> Section 6. Severability. If any provision of this ordinance shall be <br /> declared unconstitutional or invalid by any court of <br /> competent jurisdiction, it shall be conclusively presumed <br /> that this ordinance would have been enacted without the <br /> provision so held unconstitutional or invalid and the <br /> remainder of this ordinance shall not be affected as a result <br /> of said part being unconstitutional or invalid. <br /> BE AND THE SAME IS HEREBY AMENDED TO READ: <br /> Section 1: A Special Design and Construction Fund is hereby established <br /> as Fund 322 entitled "Evergreen Way North, Southpoint and <br /> North Broadway Signal Improvements" to accumulate the design <br /> and construction costs for the traffic signal improvements. <br /> Section 2: Authorization is hereby given to accumulate costs and <br /> distribute payments from Fund 322 for design and construction <br /> of the traffic signal improvements. <br /> Section 3: Authorization is hereby granted for the "Public Works <br /> Director," under the direction of the Mayor, to assume full <br /> and complete responsibility for conducting all tasks and <br /> doing all things to accomplish the actions authorized in this <br /> ordinance. <br /> Section 4. The sum of $200,000 is hereby appropriated to Fund 322, <br /> "Evergreen Way North, Southpoint and North Broadway Signal <br /> Improvements" as follows: <br /> -4- <br />