Ordinance 1484-88 - Laserfiche WebLink

ORDINANCE NO. / ' 4Y? AN ORDINANCE amending sections 3 and 4 of Ordinance No. 1366-87 increasing the total estimated cost and appropriation for Everett Riverfront Park Construction and repealing Ordinance No. 1451-88 WHEREAS, Ordinance No. 1366-87 included the funds to be received from the Interagency Committee for Outdoor Recreation and the City of Everett's grant match; and WHEREAS, the City Council approved a tax increase earmarking funds for construction of Riverfront Park;and WHEREAS, the City Council approved funding for the purchase of the Riverfront Park Property from the Department of Natural Resources; NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: Section 1: That Section 3 of Ordinance No. 1366-87 which reads as follows: The total estimated cost of the improvements authorized is $344,307 which shall include all costs related to design, construction, contract administration, plan development and associated costs. be and the same is hereby amended to read as follows: The total estimated cost of the improvements authorized is $1,683,013 which shall include all costs related to design, construction, contract administration, plan development and associated costs. Section 2: That Section 4 of Ordinance No. 1366-87 which reads as follows: A. The Sum of $344,307 is hereby appropriated to Fund 389, Program 918, "Smith Island Riverfront Park Phase I". B. Source of Funds: 1. $150,000 general fund contribution, 1987 appropriation 2. 160,013 IAC Grant 3. $34,294 general fund contribution, 1988 appropriation Fund 101, Program 857 be and the same is hereby amended to read as follows: A. The sum of $1,683,013 is hereby appropriated to Fund 389, Program 918 "Smith Island Riverfront Park". B. Source of Funds: 1. $150,000 General Fund Contribution, 1987 appropriation (Construction) 2. $160,013 IAC Grant 1987 3. $150,000 General Fund Contribution, 1988 appropriation (Construction) 4. $150,000 IAC Grant 1988 5. 800,000 CIP Revenue 6. $273,000 General Fund Contribution, 1988 Appropriation, (Land Acquisition) Section 3: That Ordinance No. 1451-88 is hereby repealed. Section 4: That the City Treasurer of the City of Everett is hereby authorized to establish an interfund loan not to exceed $1,683,013.