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4 • 4 <br /> • <br /> EXCEPT any and all professional services related to <br /> the sale or acquisition of real property, including but <br /> not limited to appraisal and title policy fees. <br /> Section 3: Monies derived from the sale or lease of City of Everett <br /> owned real properties, including but not limited to surplus <br /> City property, street or alley vacations or revenue leases, <br /> may be deposited into the Cumulative Reserve Fund, <br /> as directed by City Council. <br /> EXCEPT when said sale or lease is of either Water Fund <br /> or Sewer/Drainage Fund owned real property and/or <br /> of interdepartmental lease. <br /> Section 4: That all monies for professional services, including but <br /> not limited to appraisals and title policies, resulting <br /> from street vacations, surplusing City owned real property, <br /> or the acquisition of real property in accordance with <br /> this ordinance shall be deposited into the Cumulative <br /> Reserve Fund. Payments for professional services rendered <br /> shall be withdrawn from the Cumulative Reserve Fund. <br /> Section 5: City Council has authority to periodically revise and <br /> establish upper limit of cumulative reserve. <br /> ayor <br /> Attest: <br /> � ll <br /> City Clerk <br /> Passed: /c,2 —7/ <br /> Valid: / - 3/ — <br /> Published: l ,�9 <br />