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. I <br /> I1 <br /> The order of construction of the above improvements shall be as <br /> determined by the Public Works Director of the City of Everett. <br /> Section 3: The total estimated cost of the improvements herein <br /> authorized is $2,500,000 which will include all related costs for <br /> design, construction, contract administration, plan development <br /> and associated costs. 4 <br /> Section 4: The Public Works Director of the City of Everett under <br /> administration of the Mayor is hereby given the responsibility of <br /> conducting all tasks outlined under Section 2 above. <br /> Section 5: The City Treasurer of the City of Everett is hereby <br /> it authorized to negotiate a reasonable rate of interest and issue <br /> interest bearing warrants to satisfy interim construction costs not <br /> to exceed $2,500,000. These interest bearing warrants shall be <br /> redeemed by the Treasurer as soon as reimbursement or long term <br /> bond financing monies, as described elsewhere in this Ordinance, <br /> are received. <br /> Section 6: A. The sum of $2,500,000 is hereby appropriated <br /> to Fund No. 358 "Sewage Treatment Plant Interim <br /> Improvements Construction Fund" , Program No. 852. <br /> B. The source of funds for the appropriation shall be: <br /> 1 . From a grant from the Washington State Depart- <br /> ment of Ecology under the Referendum 39 program <br /> _$1 ,250,000 <br /> 2. From Fund No. 346 proceeds from the 1980 Water/ <br /> Sewer Revenue Bond issue <br /> $ 750,000 <br /> 3. From Sewer Improvements Fund No. 338 proceeds <br /> from sewer connection charges accumulated to <br /> date $ 400,000 <br /> 4. From Sewer Fund No. 404 from Sewer District's <br /> capital improvements charges $ 100,000 <br /> The above amounts represent the anticipated relative <br /> amounts of funds to be obtained from the various <br /> sources. The relative amounts for Items 2 and 3 may <br /> vary; but, the total amount from all sources is to <br /> remain at $2,500,000. <br /> C. 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 or <br /> abandoned without the necessity of reappropriation <br /> as per R.C.W. 35.33.151 . <br /> Section 7: The City Treasurer of the City of Everett shall invest <br /> the proceeds from increased sewer connection charges, developers' <br /> fees, and the sale of Revenue Bonds consistent with arbitrage <br /> regulations until needed for construction. The interest earned <br /> shall be deposited in this fund and expended for these projects. <br /> CITY OF EVERETT <br /> Mayor <br /> AT ,s.=, <br /> ' i i � _ / , <br /> City Clerk <br /> Passed: / y <br />