Ordinance 1182-85 - Laserfiche WebLink

Ordinance No. //(2-f5 AN ORDINANCE creating a special construction fund entitled "Silver Lake Sewer LID" Fund 719 authorizing the design and construction of sewer improvements on the north, east and south sides of Silver Lake in the City of Everett , W. O. 1727, L. I. D. 719. WHEREAS on May 29, 1985 Council accepted a majority petition calling for the formation of a Local Improvement District to construct sanitary sewers in the Silver Lake area and set June 12 , 1985 as the public hearing date , and WHEREAS on June 12 , 1985 Council conducted the Silver Lake Sewer formation hearing and adopted Ordinance 1141-85 , ordering the construction of a sanitary sewer and necessary appurtenances in the Silver Lake area, NOW THEREFORE BE IT ORDAINED BY THE EVERETT CITY COUNCIL THAT: Section 1 : A special construction fund is hereby established as Fund 719 Program 347 entitled "Silver Lake SEWER LID" (LID 719 W. O. 1729) to accomplish the action authorized by Ordinance 1141-85. Section 2 : The total estimated cost of the improvement authorized by Ordinance 1141-85 is $3 , 264 , 400, which shall include all costs related to the design, construction, contract administration, LID administration, and right-of-way. Section 3 : The sum of $3, 264, 400 is hereby appropriated to Fund 719 program 347 "Silver Lake Sewer LID" The source of funds shall be from the sale of LID 719 Assessment Roll Bonds . Section 4 : The City Treasurer of the City of Everett shall obtain interin financing at a reasonable rate of interest as needed to pay expenses of this project . Interim financing shall be redeemed by the Treasurer as soon as financing monies , from sources as described elsewhere in this Ordinance , are received. -1 -