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B. Source of Funds <br /> Fund 154—CIP 3 $ 475,000 <br /> Total Estimated Funds $ 475,000 <br /> This appropriation shall not lapse, but shall be carried forward from year to year until <br /> fully expended or the purpose has been accomplished or abandoned without the necessity <br /> of reappropriation. <br /> Section 5: <br /> The City Treasurer of the City of Everett is hereby authorized to negotiate a reasonable <br /> rate of interest and obtain temporary financing to satisfy interim construction costs. <br /> Temporary financing shall be redeemed as soon as reimbursement is received. <br /> Section 6: <br /> Severability. If any provision of this ordinance shall be declared unconstitutional or <br /> invalid by any court of competent jurisdiction, it shall be conclusively presumed that this <br /> ordinance would have been enacted without the provision so held unconstitutional or <br /> invalid and the remainder of this ordinance shall not be affected as a result of said part <br /> being unconstitutional or invalid. <br /> Peri / al <br /> Ray St:, son, 'ayor <br /> ATTEST: <br /> ilidatir70 illati..—._ <br /> City Clerk <br /> Passed: 6/13/07 <br /> Valid: 6/13/07 <br /> Published: 6/16/07 <br /> Effective Date: 6/28/07 <br /> 354_026 Ordinance 5-17-07.doc <br />