Ordinance 1548-88 - Laserfiche WebLink

r Treasurer as soon as financing monies, from sources as described elsewhere in this Ordinance, are received. Section 5: This appropriation shall not lapse but shall be carried forward year to year until fully expended or the purpose has been accomplished or abandoned without the necessity of reappropriation as per RCW 35.33.151. Section 6: This Ordinance does not amend, alter, or modify any other ordinance. BE AND THE SAME IS HEREBY AMENDED TO READ AS FOLLOWS: Section 1: A special construction fund is hereby established as Fund 721, Program 348, entitled "Southpoint-Evergreen Way Extension" (W.O. #1789, L.I.D. #721) to accomplish the action authorized by Ordinance 1178-85. Section 2: The total estimated cost of the improvement authorized by Ordinance 1178-85 is $678,271, which shall include all costs related to the design, construction, contract administration, L.I.D. administration, and right-of-way. Section 3: The sum of $678,271 is hereby appropriated to Fund 721, Program 348, "Southpoint-Evergreen Way Extension." The source of funds shall be: $494,680 Fund 721 - L.I.D. 721 Assessment Roll/Bond Sale 101,047 W.S.D.O.T. Direct Grant 82,544 Interest Earned $678,271 Section 4: The City Treasurer of the City of Everett shall obtain interim financing at a reasonable rate of interest as needed to pay expenses of this project. Interim financing shall be redeemed by the Treasurer as soon as financing monies, from sources as described elsewhere in this Ordinance, are received. Section 5: This appropriation shall not lapse butt shall be , carried forward year to year until fully expended or the purpose has been ccomplished or abandoned without the necessity of reappropriation as per RCW 35.33.151. -2-