|
4.
<br /> •
<br /> Section 5: The City Treasurer of the City of Everett is hereby authorized to
<br /> negotiate a reasonable rate of interest and issue interest bearing warrants to
<br /> satisfy interim construction costs not to exceed $427,000. These interest bearing
<br /> warrants shall be redeemed by the Treasurer as soon as reimbursement or long
<br /> term bond financing monies, as described elsewhere in this ordiance, are received.
<br /> Is hereby amended to read:
<br /> Section 3: The total estimated cost of the improvement herein authorized is
<br /> $661,424 which shall include all costs related for the design, construction,
<br /> contract administration, plan development, and associated costs as follows:
<br /> 1. Colby Tile, Parking Improvements, Corner Treatments, $314,523
<br /> and Surface Restoration for Waterline
<br /> W.O. 1651, Program 283
<br /> 2. Mid-Block Crossings $ 89,487
<br /> W.O. 1667, Program 286
<br /> 3. Waterline $191,030
<br /> W.O. 1664, Program 284
<br /> 4. Asphalt Overlay $ 66,385
<br /> W.O. 1662, Program 285
<br /> TOTAL COST $661,425
<br /> Section 4: The sum of $661,425 is hereby appropriated to Fund 365, "Design and
<br /> Construction of Colby Avenue Tile, Water, and Parking Improvements". Sources
<br /> of funds are as follows:
<br /> 1. Colby Tile, Parking Improvements, and Corner Treatments, W.O.
<br /> 1651, Program 283.
<br /> (a) Community Development Block Grant Fund $155,000
<br /> 198 - Department of Housing and Urban
<br /> Development
<br /> (b) 1980 Water/Sewer Revenue Bond Fund 346 $ 44,000
<br /> (Surface Repair for Waterline Work)
<br /> (c) 0.3% Transportation Sales Tax $ 75,000
<br /> Transit Fund 425
<br /> (d) Street Overlay Fund 120 $ 40,523
<br /> SUB TOTAL $314,523
<br /> 2. Mid-Block Crossings, W.O. 1667, Program 286
<br /> (a) Transit Accessability Grant No. 425 Fund 284 $ 50,000
<br /> Urban Mass Transit Authority (UMTA)
<br /> (b) Community Development Block Grant (HUD), $ 15,000
<br /> Fund 198
<br /> (c) Street Overlay Fund 120 $ 24,487
<br /> SUB TOTAL $ 89,487
<br /> NOTE: The first $50,000 in project costs to be charged against
<br /> Fund 284.
<br /> 3. Waterline Improvements, W.O. 1664, Program 284, $191,030
<br /> 1980 Water/Sewer Revenue Bond Fund 346
<br /> 4. Asphalt Overlay, W.O. 1662, Program 285 $ 66,385
<br /> Street Overlay Fund 120
<br /> $661,425
<br />
|