Ordinance 1991-94 - Laserfiche WebLink

. . . . , "lip, , !,,,,,AV-7 .00./.--A La, .,„. .ti ORDINANCE NO. 1991-94 AN ORDINANCE creating a special design and construction improvement project entitled "Neighborhood Mitigation Projects," Fund 303, Program 003, to accumulate all construction costs for the improvement project. WHEREAS, the City of Everett has applied for and received federal highway fund approval for the construction of traffic signal improvements at various locations in the city; NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: Section 1: A special construction improvement project is established as Fund 303, Program 003, entitled "Neighborhood Mitigation Projects" Public Works Enhancement and Improvement Projects to accumulate all costs for the improvement project. Section 2: Authorization is hereby given to accumulate costs and distribute payments from Fund 303, Program 003, for construction of the improvement project. Section 3: Authorization is hereby granted for the "City Engineer", under direction of the Mayor, to assume full and complete responsibility for conducting all tasks and doing all things to accomplish the actions authorized in this ordinance. Section 4: The sum of$434,000 is hereby appropriated to Fund 303, Program 003, "Neighborhood Mitigation Projects," as follows: A. Estimated Construction Cost $434,000 B. Source of Funds Federal Aid CM-999(182) $337,297 Fund 302 - Boeing Mitigation 96,703 Total Estimated Funds $434,000 C. This appropriation shall not lapse, but shall be carried forward from year to year until fully expended or the purpose has been accomplished or abandoned without the necessity of reappropriation. Section 5: The City Treasurer of the City of Everett is hereby authorized to negotiate a reasonable rate of interest and obtain temporary financing to satisfy interim construction costs. Temporary financing shall be redeemed as soon as reimbursement is received.