Ordinance 1187-85 - Laserfiche WebLink

. � r , ) ) • Ordinance No. i tr7"s".6 AN ORDINANCE creating a special construction fund entitled "Southpoint-Evergreen Way Extension, " Fund 721 authorizing the design and construction of sewer improvements on Highway 99 South (Evergreen Way) from the 104th St . S.W. grid south, to the 108th St . right-of-way in the City of Everett , W.O. #1789 , LID #721 . WHEREAS on October 2 , 1985 , Council fixed October 16 , 1985 , for hearing all matters relating to the proposed improvement and all objections thereto and for determining the method of payment for the improvements ; and WHEREAS on October 16, 1985 , Council conducted the Southpoint-Evergreen Way Extension hearing and adopted Ordinance 1178-85 ordering the construction of certain street improvement on Highway 99 South (Evergreen Way) ; NOW THEREFORE BE IT ORDAINED BY THE EVERETT CITY COUNCIL THAT: Section 1 : A special construction fund is hereby established as Fund 721, Program 348, entitled "Southpoint-Evergreen Way Extension" (W. O. #1789, LID #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 $676, 100, which shall include all costs related to the design, construction, contract administration , LID administration, and right-of-way. Section 3 : The sum of $676, 100 is hereby appropriated to Fund 721 program 348 "Southpoint-Evergreen Way Extension. " The source of funds shall be from the sale of LID 721 Assessment Roll Bonds . Section 4 : The City Treasurer of the City of Everett shall obtain interin 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. -1-