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Section 3: The total estimated cost of the improvements herein authorized is <br /> $26,430,000 which will include all costs related to design, construction, <br /> contract administration, plan development and associated costs. <br /> Section 4: The sum of $26,430,000 is hereby appropriated to Fund #359, "Design <br /> and Construction of Southwest Everett Sewer ULID #1 Sewer <br /> Facilities", as follows: <br /> 1. Program #853 (Non-Grant Eligible) $11,832,000 <br /> Contracts 1, 2 and 4 <br /> Mukilteo Beach Interceptor, Contract #1 <br /> Southwest Interceptor, Contract #2 <br /> Pump Station #1, Contract #4 <br /> 2. Program #854 (Grant Eligible) $14,598,000 <br /> Contracts 3A, 3B and 5 <br /> Southend Interceptor, Contract #3A <br /> Southend Interceptor (River Crossing), Contract #3B <br /> Treatment Plant Headworks, Contract #5 <br /> TOTAL $26,430,000 <br /> Actual funds expended on each of the programs listed above may vary from the <br /> amounts indicated. Funds may be adjusted within the above designated programs <br /> to remain within the total budgeted amount. <br /> The source of funds for the above appropriations shall be as follows: <br /> 1. From the sale of ULID #1 Revenue Bonds and interest earned <br /> on invested fund during construction $14,268,421 <br /> 2. DOE Grant from the Washington State $ 7,299,000 • <br /> Department of Ecology. <br /> 3. From Fund #346, proceeds from the 1980 sale of Revenue Bonds <br /> and interest earned in Fund #346 on the invested <br /> funds. $ 3,088,579 <br /> 4. From Sewer Fund #404 reimburseable by contributions from <br /> the Alderwood, Mukilteo and Silver Lake Water Districts <br /> $ 1,774,000 <br /> TOTAL $26,430,000 <br /> Section 5: The City Treasurer shall invest the proceeds from the sale of ULID #1 <br /> Revenue Bonds until needed for construction. The interest earned <br /> shall be deposited in the Fund and expended for these programs. <br /> Section 6: The City Treasurer of the City of Everett is hereby authorized to <br /> obtain interim financing at a reasonable rate of interest to satisfy <br /> construction costs not to exceed $26,430,000. The interim financing <br /> may be in any form permitted by law. Interim financing liabilities <br /> shall be paid by the Treasurer as soon as permanent financing monies, <br /> from sources as described elsewhere in the Ordinance, are received. <br />