Ordinance 1344-87 - Laserfiche WebLink

/z ORDINANCE NO. / il --67 AN ORDINANCE amending sections 3,5, and 6 of Ordinance 1192-85 adding section 8 to Ordinance 1192-85 and increasing the appropriation by $1 , 120,000. NOW, THEREFORE, be it ordained by the Everett City Council Section 1 : That section 3 of Ordinance 1192-85 which reads as follows: Section 3: The total estimated cost of the project herein authorized is $1 , 130,000, which will include all costs related to design, construction, contract administration, plan development and associated costs. BE AMENDED to read as follows: Section 3 The total estimated cost of the project herein authorized is $2,250,000, which will include all costs related to design, construction, contract administration, plan development and associated costs. Section 2: That Section 5 of Ordinance 1192-85 which reads as follows: Section 5: The sum of $1 , 130,000 is hereby appropriated to Fund No . 380, "Energy Conservation Measure at Reservoir #3" : 1 . Program No . 371 : Energy Conservation Measure at Reservoir #3. Source of Funds: Utility Fund No . 401 : $61 ,300 State Grant : $931 ,000 Alderwood Water District : $137,700 TOTAL $1 , 130,000 BE AMENDED to read as follows: Section 5: The sum of $2,250,000 is hereby appropriated to Fund No . 380, "Energy Conservation Measure at Reservoir #3" : 1 . Program No . 371 : Energy Conservation Measure at Reservoir #3. Source of Funds: Utility Fund No . 401 : $395,700 State Grant : $931 ,000 Alderwood Water District : $923,300 TOTAL: $2,250,000 Section 3: That Section 6 of Ordinance 1192-85 which reads as follows: Section 6: The City Treasurer of the City of Everett is hereby authorized to obtain interim financing at a reasonable rate of interest to satisfy construction costs not to exceed $1 , 130,000. The interim financing may be in any form permitted by law. Interim financing liabilities shall be paid by the Treasurer as soon as permanent financing monies, from sources as described elsewhere in this Ordinance, are received . BE AMENDED to read as follows: Section 6: The City Treasurer of the City of Everett is hereby authorized to obtain interim financing at a reasonable rate of interest to satisfy construction costs not to exceed $2,250,000. The interim financing may be in any form permitted by law. Interim financing liabilities shall be paid by the treasurer as soon as permanent financing monies, from sources as described elsewhere in this Ordinance, are received .