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Section 5: The sum of $331,900 is hereby appropriated to Fund 312, "Riverside <br /> Traffic Signal Improvements" as follows: <br /> A. Estimated Project Costs: <br /> Preliminary Engineering, (W.O. 1796) <br /> $ 51,200.00 <br /> Construction (W.O. 2133) <br /> 331,900.00 <br /> Total Estimated Cost Fund 312 331,900.00 <br /> B. Source of Funds: : <br /> 1. Preliminary Engineering (W.O. 1796) <br /> FAUS (Federal Aid) $ 42,670.00 <br /> 1/2e gas tax 8,530.00 <br /> Subtotal $ 51,200.00 <br /> 2. Construction (W.O. 2133) <br /> FAUS (Federal Aid) $233,935.00 <br /> 1/2V gas tax 46,765.00 <br /> Subtotal 280,700.00 <br /> Total Source of Funds, Fund 312 $331,900.00 <br /> C. This appropriation shall not lapse, but shall be carried forward from <br /> year to year until fully expended or the purpose has been accomplished or <br /> abandoned without the necessity of reappropriation as per R.C.W. 35.33.151. <br /> Section 6: The City Treasurer of the City of Everett is hereby authorized to <br /> negotiate a reasonable rate of interest and obtain temporary <br /> financing to satisfy interim construction costs. Temporary <br /> financing shall be redeemed as soon as reimbursement is received. <br /> Section 7: Severability. If any provision of this ordinance shall be <br /> declared unconstitutional or invalid by any court of competent <br /> jursidiction, it shall be conclusively presumed that this <br /> ordinance would have been enacted without the provision so held <br /> unconstitutional or invalid and the remainder of this ordinance <br /> shall not be affected as a result of said part being <br /> unconstitutional or invalid. <br /> BE AND THE SAME IS HEREBY AMENDED TO READ: <br /> AN ORDINANCE amending Ordinance No. 1434-88, which created <br /> a special fund entitled "Riverside Traffic Signal <br /> Improvements", Fund 312, to accumulate all the design and <br /> construction costs for the traffic signal improvements <br /> project, including replacement of traffic signal <br /> controllers, construction of a traffic signal telemetry <br /> system, vehicle detectors and other necessary improvements. <br /> WHEREAS, on January 27, 1988, the City of Everett created a special <br /> fund entitled "Riverside Traffic Signal Improvements", Fund 312. <br /> WHEREAS, in 1985, the City of Everett installed a central computer for <br /> operation and supervision of traffic signals within the City; and <br /> - 2 - <br />