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1 <br /> ! ' <br /> 5. Program 758-Water Project 2W4 871 ,000.00 <br /> 6. Program 759-Water Project 3W5 1 ,820,000.00 <br /> 7. Program 760-Water Project 3W6 300,000.00 <br /> 8. Program 249-Reline Mains 1 ,270,000.00 <br /> TOTAL $6,220,000.00 <br /> Actual funds expended on each of the projects listed <br /> above may vary from the amounts indicated. Funds will <br /> be adjusted within the total $6,220,000 budgeted amount. <br /> B. Source of Funds: <br /> From the sale of Revenue Bonds and interest <br /> earned on invested funds during construction $6,220,000 <br /> Section 6: The City Treasurer of the City of Everett shall invest <br /> the proceeds from the sale of Revenue Bonds until needed <br /> for construction. The interest earned shall be deposited <br /> in this fund and expended for this project. <br /> Section 7: The City Treasurer of the City of Everett is hereby <br /> authorized to negotiate a reasonable rate of interest and <br /> issue interest bearing Revenue Warrants to satisfy interim <br /> construction costs not to exceed $6,220,000. These <br /> interest bearing warrants shall be redeemed by the <br /> Treasurer as soon as reimbursement or long term bond <br /> financing monies, as described elsewhere in this Ordi- <br /> nance, are received. <br /> Section 8: This appropriation shall not lapse but shall be carried <br /> forward from year to year until fully expended or the <br /> purpose has been accomplished or abandoned without the <br /> necessity of reappropriation as per R.C.W. 35.33.151 . <br /> Section 9: Ordinance No. 644-79 as amended by Ordinance No. 828-81 <br /> is hereby repealed. <br /> CITY OF EVERETT <br /> J � <br /> \,---1 <br /> 6-), <br /> . ../ ...„ <br /> ,./22.A4 <br /> Mayor <br /> r . <br /> ATTEST• /,-• , , <br /> City Clerk <br /> Passed: 4; --)--9 'cF <br /> Valid: 7 -- / - 57.. <br /> Published: -7 , 7-73' <br /> -2- <br />