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Section 4: The sum of $427,000 is hereby appropriated to Fund 365, "Design and <br /> Construction of Colby Avenue Tile, Water, and Parking Improvements". Sources of <br /> funds are as follows: <br /> 1. Colby Tile, Parking Improvements, and Corner Treatments, W.O. 1651, <br /> 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 $ 30,000 <br /> (Surface Repair for Waterline Work) <br /> NOTE: Periodic billing for project costs shall be pro-rated against <br /> the funding sources as follows: <br /> (155 divided by 185) 100 = 84% against Fund 198 <br /> (30 divided by 185) 100 = 16% against Fund 346 <br /> 2. Mid-Block Crossings, W.O. 1667, Program 286 <br /> (a) Transit Accessability Fund 284 $ 50,000 <br /> Urban Mass Transit Authority (UMTA) <br /> (b) Community Development Block Grant (HUD), $ 15,000 <br /> Fund 198 <br /> NOTE: The first $50,000 in project costs to be charged against <br /> Fund 284. All remaining costs to be charged against Fund 198. <br /> 3. Waterline Improvements, W.O. 1664, Program 284, $120,000 <br /> 1980 Water/Sewer Revenue Bond Fund 346 <br /> 4. Asphalt Overlay, W.O. 1662, Program 285 $ 57,000 <br /> $427,000 <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 satisfy <br /> interim construction costs not to exceed $427,000. These interest bearing warrants <br /> shall be redeemed by the Treasurer as soon as reimbursement or long term bond <br /> financing monies, as described elsewhere in this ordiance, are received. <br /> Section 6: This appropriation shall not lapse but shall be carried forward year to <br /> year until fully expended or the purpose has been accomplished or abandoned without <br /> the necessity of reappropriation as per RCW 35.33.151 <br /> CITY OF <br /> EVERETT <br /> MAYOR <br /> ATTEST: <br /> CITY CLERK <br /> Passed: 2, <br /> Valid: a 7- Y <br /> Published: 3-01- ?7' <br />