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Committed recommendation will be submitted to the King County <br />Council for determination. <br />(b) ,bond Proceeds Reallocation Project AhAildonment. <br />If the City abandons a Project, the City may reallocate <br />unexpended Bond Proceeds to other existing approved City Projects <br />following the same procedure as set forth in sub section 5.5(a) <br />above after formal legislative action by the City, which includes <br />a determination and findings that changed conditions or new <br />information developed after approval of the Project prevent <br />completion of the Project or clearly demonstrate that the <br />existing Project would no longer serve the best interest of the <br />City in fulfilling the intent of this Agreement and the Election <br />Ordinance. <br />(c) pond Proceeds Real oca New Proiecti. <br />If the City proposes to reallocate Bond Proceeds to a new <br />Project, the City shall forward its proposal to the Citizens <br />Oversight Committee for its review and recommendation. The King <br />County Council may reallocate Bond Proceeds following receipt of <br />the Citizens Oversight Committee's recommendation, if it <br />determines that the proposed new Project is consistent with the <br />purpose of the Bonds and if it obtains the Agreement of one or <br />more cities within the same Project Category. <br />5.6. Interim Financing. Following the County's adoption of <br />the Bond Ordinance, the City may issue short term obligations in <br />anticipation of reimbursement from Bond Proceeds, pursuant to the <br />Bond Ordinance and this Agreement, to defray the same Capital <br />11 <br />901- 319.AG <br />