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• <br /> WHEREAS, the City Council has determined it to be in the best interests of <br /> the City that the improvement as hereinafter described be carried out and that <br /> the District be created in connection therewith; <br /> NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: <br /> Section 1: The City Council of the City of Everett, Washington (the <br /> "City"), orders the acquisition, construction and installation of standard street <br /> system and sanitary sewer system improvements described in Exhibit B attached <br /> hereto and by this reference made a part hereof. <br /> All of the foregoing shall be in accordance with the plans and specifications <br /> therefor prepared by the City Engineer, and may be modified by the City Council <br /> as long as such modification does not affect the purpose of the improvement. <br /> Section 2: There is created and established a local improvement district <br /> to be called Local Improvement District No. 714 "A" of the City of Everett, <br /> Washington (the "District"), the boundaries or territorial extent of which District <br /> being more particularly described in Exhibit B attached hereto and by this <br /> reference incorporated herein. <br /> Section 3: The total estimated cost and expense of the improvement is <br /> declared to be $2,867,400. The entire cost and expense less the proceeds, if any, <br /> of any state or federal grants including Overlay Funds from Washington State <br /> Department of Transportation (estimated to be $183,175) received by the City <br /> therefor shall be borne by and assessed against the property specially benefited by <br /> such improvement included in the District embracing as nearly as practicable all <br /> property specially benefited by such improvement, except City of Everett Storm <br /> Detention Funds (Fund No. 340) shall be used to defray the entire cost of the <br /> construction of a storm water system from Everett Mall Way south to 104th <br /> Street on 1st Place West, also known as Howard Ave., for that single drainage <br /> basin along Everett Mall Way, and except City Transit Funds shall contribute the <br /> entire cost equivalent to the cost of the transit shelters and necessary right-of- <br /> way related thereto (estimated to be $62,000), and except any public contributions <br /> determined by City Council, if any, that may become available to help defray the <br /> cost of this improvement. <br /> -2- <br />