Ordinance 957-83 - Laserfiche WebLink

p • • Section 3" The total estimated cost of the improvements herein authorized is $600,000 which will include all costs related to design, construction, contract administration, plan development and associated costs. Section 4: The sum of $600,000 is hereby appropriated to Fund No. 361 , "Transmission Line #2 Upgrading and Water System Survey Design and Construction", as follows: 1. Program No. 257, Replacement of Deteriorated Sections of #2 Line. $500,000 2. Program No. 258, Leakage and Corrosion Surveys and Provision of Cathodic Protection Facilities $100,000 TOTAL $600,000 Actual funds expended on each of the programs listed above may vary from the amounts indicated. Funds may be adjusted within the above designated programs to remain within the total budgeted amount. The source of funds for the above $600,000 total appro- priations shall be from Fund No. 346, proceeds from the 1980 sale of Revenue Bonds and interest earned in Fund No. 346 on the invested funds. Section 5: The City Treasurer shall invest the proceeds from the sale of Revenue Bonds until needed for construction. The interest earned shall be deposited in the Fund and expended for these programs. Section 6: The City Treasurer of the City of Everett is hereby authorized to obtain interim financing at a reasonable rate of interest to satisfy construction costs not to exceed $600,000. The interim financing may be in any form permitted by law. Interim financing liabilities shall be paid by the Treasurer as soon as permanent financing monies, from sources as described elsewhere in the Ordinance, are received. Section 7: This appropriation shall not lapse but shall be carried forward from year to year until fully expended or the purpose has been accomplished or abandoned without the necessity of reappropriation as per RCW 35.33.151 CITY OF EVERETT yor A T ST: 9 P �u City Clerk Passed: (p -� 4,-�� Valid: 7- l Published: 77 - 7-f