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APPENDIX IX <br /> <br />City of Ramsey, Minnesota <br />Assessment Income - Flintwood Hills <br /> <br /> Prepared October 26, 1989 <br />By: SPRINGSTED Incorporated <br /> <br /> Interest <br />Collect Year Principal @ 9.0% Total <br /> <br />1987 $ 67,883(a) $ 0 $ 67,883 <br />1988 196,907(c) 24,530(b) 221,437 <br />1989 18,913(d) 6,809 25,722 <br />1990 18,913 5,107 24,020 <br />1 991 18,913 3,404 22,317 <br />1992 18,913 1,702 20,615 <br /> <br />Total $340,442 $41,552 $381,994 <br /> <br />(a) For the purpose of this analysis all assessment collections reported by the City in 1987 are <br /> assumed to be principal payments. <br /> <br />(b) Is the interest on the total principal amount of assessments of $340,442 less the principal <br /> collected in 1987 of $67,883. <br />(c) Is the total collections reported by the City in 1988 of $221,436 less the interest amount for <br /> collection year 1988 of $24,530. <br /> <br />(d) Remaining principal of $75,653 divided by 4. <br /> <br />Page 15 <br /> <br /> <br />