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• 8-3, - ct
<br /> ORDINANCE NO. 96"
<br /> AN ORDINANCE creating a special construction fund entitled
<br /> "Design and Construction of Campus Parkway Improvements",
<br /> Fund 363, for LID 711, in the vicinity of Campus Parkway,
<br /> Evergreen Way to Casino Road.
<br /> WHEREAS, the City Council recognized that the area of Campus Parkway
<br /> between Evergreen Way and Casino Road is in need of improvement; and
<br /> WHEREAS, by Resolution 2159, adopted August 25, 1982, the City Council
<br /> declared its intention to construct and install certain street, water, and Pigeon Creek
<br /> Regional Storm Detention System; and
<br /> WHEREAS, on September 12, 1982, the City Council passed Ordinance 887-82
<br /> creating Local Improvement District 711 to finance the construction of improvements
<br /> to Campus Parkway; and
<br /> WHEREAS, on February 9, 1983, the City Council passed Ordinance 922-83
<br /> authorizing the sale of bond anticipation notes to finance the construction of
<br /> improvements to Campus Parkway;
<br /> NOW, THEREFORE, BE IT ORDAINED BY THE EVERETT CITY COUNCIL THAT:
<br /> Section 1: A special construction fund is hereby established as Fund 363
<br /> entitled "Design and Construction of Campus Parkway Street,
<br /> Water, and Pigeon Creek #1 Regional Storm Detention System
<br /> Improvements" to accomplish the actions authorized by Ordinance
<br /> 887-82 creating LID 711 to finance improvements to Campus
<br /> Parkway and by Ordinance 922-83 authorizing the sale of bond
<br /> anticipation notes to finance LID 711.
<br /> Section 2: The total estimated cost of the improvements authorized by
<br /> Ordinance 887-82 is $781,000 which will include all costs related to
<br /> design, construction, contract administration, plan development, and
<br /> associated costs.
<br /> Section 3: The sum of $781,000 is hereby appropriated to Fund 363 "Design and
<br /> Construction of Campus Parkway Improvements", as follows:
<br /> 1. Program 260, Campus Parkway Street Improvements, $613,000
<br /> 2. Program 266, Campus Parkway Water Improvements, $118,000
<br /> 3. Program 267, Pigeon Creek 111 Regional Storm Detention
<br /> System Improvements, $50,000
<br /> The source of funds for the above appropriations shall be as follows:
<br /> Program 260, Campus Parkway Street Improvements:
<br /> $311,850 - Fund 710, LID 711 Assessment Roll/Bond Sale
<br /> 150,575 - Fund 327, Evergreen Way
<br /> 150,575 - Fund 301, 1/2 Cent Gas Tax
<br /> $613,000
<br /> Program 266, Campus Parkway Water Improvement:
<br /> $ 40,000 - Fund 710, LID 711 Assessment Roll/Bond Sale
<br /> 78,000 - Fund 336, Water Reservoir #6 Construction
<br /> $118,000
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