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. <br /> • . <br /> Section 5: A. The sum of $4,947,980 is hereby appropriated to Fund <br /> No. 337, "Design and Construction of Water System <br /> Improvements" as follows: <br /> 1. Program 754 - Reline Mains $ 679,659.91 <br /> 2. Program 755 - Water Project 1W1 (1980) 343,976.15 <br /> 3. Program 756 - Water Project 1W2 (1980) 339,792.28 <br /> 4. Program 757 - Water Project 2W3 (1981) 594,632.58 <br /> 5. Program 758 - Water Project 2W4 (1981) 870,251.60 <br /> 6. Program 759 - Water Project 3W5 (1982) 1,819,667.48 <br /> 7. Program 760 - Water Project 3W6 (1982) 300,000.00 <br /> TOTAL $4,947,980.00 <br /> Actual funds expended on each of the projects listed above <br /> may vary from the amounts indicated. Funds will be adjusted <br /> within the total $4,947,980 budgeted amount. <br /> B. Source of Funds <br /> 1. From the sale of Revenue Bonds and interest earned <br /> on invested funds during construction $4,447,980 <br /> 2. Unallocated funds from Fund 410 (Water) $500,000 <br /> TOTAL $4,947,980 <br /> Section 7: The City Treasurer of the City of Everett is hereby authorized <br /> to negotiate a reasonable rate of interest and issue interest <br /> bearing Revenue Warrants to satisfy interim construction <br /> costs not to exceed $4,447,980. These interest bearing warrants <br /> shall be redeemed by the Treasurer as soon as reimbursement <br /> or long term bond financing monies, as described elsewhere <br /> in this Ordinance, are received. <br /> MAYOR <br /> ATTEST: <br /> ) <br /> CITY CLERK <br /> Passed: / ) <br /> Valid: <br /> Published: / <br /> -2- <br />