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The 'source of funds for the above appropriations <br /> shall be as follows : <br /> 1 . From the sale of ULID #1 Revenue <br /> Bonds and interest earned on <br /> invested funds during construc- <br /> tion. $13 , 087 , 000 <br /> 2 . Grant from the Washington State <br /> Department of Ecology. $ 7 ,299, 000 <br /> 3 . From Fund #346 , proceeds from <br /> the 1980 sale of Revenue Bonds <br /> and interest earned in Fund #346 <br /> on the invested funds. $ 4 , 300 , 000 <br /> 4. From Sewer Fund #404 reimbursable <br /> by contributions from the Alder- <br /> wood, Mukilteo and Silver Lake <br /> Districts . $ 1 ,744, 000 <br /> TOTAL $26 ,430, 000 <br /> Section 5: The City Treasurer shall invest the proceeds <br /> from the sale of ULID #1 Revenue Bonds until <br /> needed for construction. The interest earned <br /> shall be deposited in the Fund and expended <br /> for these programs . <br /> Section 6 : The City Treasurer of the City of Everett is <br /> hereby authorized to obtain interim financing <br /> at a reasonable rate of interest to satisfy <br /> construction costs not to exceed $26, 430, 000 . <br /> The interim financing may be in any form <br /> permitted by law. Interim financing liabilities <br /> shall be paid by the Treasurer as soon as <br /> permanent financing monies, from sources as <br /> described elsewhere in the Ordinance, are <br /> received. <br /> Section 7 : This appropriation shall not lapse but shall be <br /> carried forward from year to year until fully <br /> expended or the purpose has been accomplished <br /> or abandoned without the necessity of re- <br /> appropriation as per RCW 35 . 33 . 151 . <br /> Section 8 : Ordinance No. 935-83 is hereby repealed. <br /> CITY OF EVERETT <br /> _ , <br /> leede,4,Mayor <br /> ATTEST: <br /> cs / <br /> City Clerk <br /> Passed: to - Y 1 _ <br /> Valid: 7 - / ` 7f <br /> Published: `7- r �� <br />