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1 <br /> 2 <br /> 3 Section 3 <br /> 4 The City Treasurer of the City of Everett is hereby authorized <br /> 5 to negotiate a reasonable rate of interest and issue interest <br /> bearing warrants to satisfy interim construction costs not to <br /> 6 exceed $115,000. These interest bearing warrants shall be re- <br /> deemed by the Treasurer as soon as reimbursement or long term <br /> 7 bond financing monies, as described elsewhere in this Ordinance, <br /> are received. <br /> 8 <br /> 9 <br /> Section 4 <br /> 10 <br /> 11 The sum of $115,000 be appropriated to Fund No. 335 "Traffic <br /> Signal Controllers" in the following manner: <br /> 12 <br /> 13 <br /> A. Appropriation to Fund No. 335 Program No. 738 <br /> 14 <br /> 15 1. Prepare Plans Specifications <br /> and Estimates 6,500 <br /> 16 <br /> 17 2. Purchase four "170" Traffic <br /> Signal Controllers 72,000 <br /> 18 <br /> 19 3. Construction 36,500 <br /> 20 <br /> TOTAL $115,000 <br /> 21 <br /> 22 <br /> B. Source of Funds <br /> 23 <br /> 24 1. Federal Aid Program 120 (d) $115,000 <br /> 25 <br /> TOTAL $115,000 <br /> 26 <br /> 27 <br /> C. Purpose <br /> 28 <br /> 29 1. To purchase four controllers for Moduvac traffic <br /> controllers and install them improving traffic <br /> 30 safety and movement. <br /> 31 <br /> 32 <br />