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EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET 5 <br /> PROJECT TITLE: <br /> An Ordinance closing Fund Briefing COUNCIL BILL# ([l ( -eci <br /> No. 451, a Special Enterprise Proposed Action Originating Department Public Works <br /> Fund, entitled"Everett-Tulalip Consent Contact Person Dave Davis <br /> Joint Water Line Fund"as Action Phone Number (425)257-8913 <br /> established by Ordinance No. First Reading FOR AGENDA OF December 6,2017 <br /> 2917-06 Second Reading <br /> Third Reading <br /> Public Hearing <br /> Budget Advisory Initialed by: <br /> Department Head <br /> CAA „�- <br /> Council President t '- <br /> Location <br /> Location Preceding Action Attachments Department(s)Approval <br /> Ordinance No.2917-06 Ordinance <br /> Approved 6/28/06 <br /> Amount Budgeted $10,235,897 <br /> Expenditure Required $10,235,897 Account Number(s): Fund 451 <br /> Budget Remaining -0- <br /> Additional Required -0- <br /> DETAILED SUMMARY STATEMENT: <br /> The Enterprise Fund 451 was established by City Council in June,2006 to provide design and construction of <br /> the Tulalip waterline. The last segment has been completed and the pipeline was dedicated on April 28, <br /> 2017.At this point, all revenues and expenditures have been accounted for,the purpose of the Fund has been <br /> completed and the Fund is ready to be closed. The total expenses were$10,235,897 and the funding sources <br /> were as follows: <br /> Tulalip Tribes of Washington $ 5,000,000 <br /> City of Everett 5,000,000 <br /> Interest Income 235,897 <br /> Total Revenues $10,235,897 <br /> RECOMMENDATION(Exact action requested of Council): <br /> Adopt an Ordinance closing Fund No. 451, a Special Enterprise Fund, entitled`Everett-Tulalip Joint Water <br /> Line Fund"as established by Ordinance No.2917-06. 1 17 <br />