Ordinance 1596-89 - Laserfiche WebLink

• ORDINANCE NO. /O-96 `8Y AN ORDINANCE establishing the funding for the Evergreen Gateway Project, including funding for L.I.D. No. 725, the street overlay and striping, the signal telemetry, and the sewer bypass utilities. WHEREAS, by Resolution No. 2779, adopted October 29, 1986, the City of Everett, Washington (the "City"), declared its intention to order the ' improvement of the Evergreen Way Gateway; and WHEREAS, by Ordinance No. 1312-86 passed and approved on December 10, 1986, after notice and hearing in the manner provided by law, the City Council established Local Improvement District No. 725 (the "District") and appropriated the sum of $1,089,700 to a special construction account created in the Local Improvement District Fund for the District to accomplish the action authorized by such ordinance; and WHEREAS, by Ordinance No. 1578-89, passed and approved on April 12, 1989, after notice and hearing in the manner provided by law, the City Council levied and confirmed assessments and an assessment roll in the District in the total amount of $1,192,159; and WHEREAS, the cost of the improvements is more than the preliminary cost estimate, and additional monies have been contributed from various sources to help cover the cost increase; and WHEREAS, the City Council is of the opinion that a supplemental appropriation should be made to the special construction account heretofore created in the Local Improvement Fund for the District, resulting in a total appropriation of $1,404,141, because of increases in design costs, construction costs, and financing costs associated with the improvement and the District which will require further expenditures and additional borrowing;