Ordinance 1116-85 - Laserfiche WebLink

ORDINANCE NO. /1 /6'.1) AN ORDINANCE amending Sections 3, 4 and 5 of Plans and System Ordinance No. 1058-84 which created Forest Park Swim Center Reroof Fund No . 370 . NOW, THEREFORE BE IT ORDAINED BY THE EVERETT CITY COUNCIL THAT: Section 1 . Sections 3, 4 and 5 of Ordinance No. 1058-84 which created Fund No. 370 read as follows : Section 3 : The total cost of the improvements authorized is $606, 062 which shall include all costs related to design, construction, contract administration, plan development, and associa- ted costs . Section 4: A. The sum of $606,062 is hereby appro- priated from Fund 370, "Design and Construction of Forest Park Swim Center Reroof" . B. Source of Funds-Fund 370-Cash on Hand. Section 5: The City Treasurer of the City of Everett is hereby authorized to negotiate a reasonable rate of interest and issue interest bearing warrants to satisfy interim construction costs not to exceed $606, 062 . These interest bear- ing warrants shall be redeemed by the Treasurer at completion of the project . " be and the same are hereby amended to read a follows : Section 3 : The total cost of the improvements authorized is $641,062 which shall include all costs related to design, construction, contract administration, plan development , and associated costs . Section 4 : A. The sum of $641,062 is hereby appropriated from Fund 370, "Design and Construction of Forest Park Swim Center Reroof . " B. Source of Funds : General Fund - General Government Non-Departmental Expense Department No. 009 $383 ,601. Cumulative Reserve for Parks Fund No. 148 $257 ,461 . Total $641 ,062. 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 reimbur- sement or long term bond financing monies: , as described elsewhere in this ordinance, are received.