Ordinance 1293-86 - Laserfiche WebLink

Section 9: The City Treasurer of the City of Everett is hereby authorized to negotiate a reasonable rate of interest and issue interest bearing warrants to satisfy interim construction costs not to exceed $105,616 of CDBG funds and $8443.16 of 1985 carry over funds. These interest bearing warrants shall be redeemed by the Treasurer as soon as reimbursement or long term bond financing monies, as described elsewhere in this Ordinance, are received. Section 10: A. The sum of $105,616 is hereby appropriated to Fund No. 381 , "1986 Block Grant Neighborhood Improvements", as follows: Program 867: Riverside Neighborhood Improvement $26,404 Program 868: Northeast Everett Neighborhood Improvement 26,404 Program 869: Lowell Neighborhood Improvement 26,404 Program 870: Port Gardner Neighborhood Improvement 26,404 $105,616 B. Source of Funding: Fund 381 - Community Development Block Grant Funds $105,616 Fund 372 - 1985 Community Development Block Grant Funds $ 8,443. 16 TOTAL AVAILABLE $114,059. 16 C. This appropriation shall not lapse but shall be carried forward from year to year until fully expended or the purpose has been accomplished or abandoned without the necessity of reappropria- tion as per R.C.W. 35.33. 151. Section 11: Severability. If any provisions of this ordinance shall be declared unconstitutional or invalid by any court of competent jurisdiction, it shall be conclusively presumed that this ordinance would have been enacted without the provision so held unconstitutional or invalid and the remainder of this ordinance shall not be effected as a result of said part being held unconstitutional or invalid. Section 12: This Ordinance repeals Ordinance No. 1270-86 passed July 16, 1986. OF EVER TT Cr4:2 v W xM )4 Mayor Pro-Tem Carl Gipson ATTEST: -4e--a--c-s-ti...) .-/-z...e.e.e-L, City Clerk PASSED: 9/;7- 1' VALID:9'- /9- PG PUBLISHED: 9_�4/_g6,, 2126G -4-