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ORDINANCE NO.-2/ '4' 96 <br /> AN ORDINANCE creating a special assessment fund entitled <br /> "Capital Improvement Assessments", Fund 701, to account for <br /> special assessment projects. <br /> WHEREAS, the City of Everett orders capital projects to be constructed with some or all of <br /> the source of funds to be provided by Local Improvement Districts created to carry out the <br /> proposed improvements by special assessment upon property which will be specially benefited <br /> by such improvements; and <br /> WHEREAS, the City of Everett must authorize the issuance and sale of local improvement <br /> district warrants and local improvement district bonds to finance the improvements ordered; <br /> and <br /> NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: <br /> Section 1: <br /> A special assessment fund is hereby established as Fund 701, entitled "Capital Improvement <br /> Assessments", Fund 701, to account for special assessment projects. <br /> Section 2: <br /> Authorization is hereby given to accumulate costs and distribute payments from Fund 701 for <br /> special assessment projects as established by Ordinance. <br /> Section 3: <br /> Authorization is hereby granted for the "Engineering/Public Services Director", under <br /> direction of the Mayor, to assume full and complete responsibility for conducting all tasks and <br /> doing all things to accomplish the actions authorized in this ordinance. <br /> Section 4: <br /> Appropriations to Fund 701 will be established by the creation of Local Improvement District <br /> Ordinances or other special assessment projects. Appropriations will be for a specific program <br /> (project) and will include a complete and balanced budget. <br />