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C. This appropriation shall not lapse but shall be carried <br /> forward from year-to-year until fully expended <br /> or the purpose has been accomplished or abandoned <br /> without the necessity of reappropriation as per <br /> R.C.W. 35.33.151." <br /> That Sections 3, 5, and 6 of Ordinance No. 697-80 are hereby amended <br /> as follows: <br /> "Section 3: The total estimated cost of the improvements herein authorized <br /> is $1,200,000 which will include all related costs for design, construction, <br /> contract administration, plan development and associated costs." <br /> "Section 5: The City Treasurer of the City of Everett is hereby authorized <br /> to negotiate a reasonable rate of interest and issue interest bearing <br /> warrants to satisfy interim construction costs not to exceed $1,200,000. <br /> These interest bearing warrants shall be redeemed by the Treasurer <br /> as soon as reimbursement or long term bond financing monies, as described <br /> elsewhere in this Ordinance, are received." <br /> "Section 6: A. The sum of $1,200,000 is hereby appropriated to <br /> Fund No. 343, "Sanitary Sewer Lift Stations 24, <br /> 25, and 26 Improvement and Construction Fund" <br /> as follows: <br /> 1. Program 781 Lift Station #24 Improvements $1,000,000 <br /> 2. Program 782 Lift Stations #25 and 26 <br /> Improvements $ 200,000 <br /> TOTAL $1,200,000 <br /> Actual funds expended on each of the projects listed <br /> above may vary from the amounts indicated which <br /> are projected construction costs for future construction <br /> dates. Funds will be adjusted within the $1,200,000 <br /> total amount. <br /> B. The source of funds for the appropriations to Programs <br /> Numbers 781 and 782 shall be: <br /> 1. From the sale of revenue bonds and <br /> interest earned on invested funds during <br /> construction $ 400,000 <br /> 2. From Sewer Department Fund 404, <br /> monies paid by sewer districts as <br /> capital contributions to project costs or <br /> as a proportionate share of revenue <br /> bonds repayment $ 635,000 <br /> 3. From Sewer Department Fund 404, <br /> increased sewer connection charges <br /> and developer's fees for sewer capacity <br /> improvements and interest earned on <br /> investing these funds during and prior <br /> to construction $ 165,000 <br /> -2- <br /> 3 <br />