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The following Table II shows the estimated project costs for <br />sanitary sewer and watermain. <br /> <br /> TABLE II <br />SERVICE TO RUM RIVER ESTATES PLAT LINE <br /> <br />SANITARY SEWER ~ND WATERMAiN <br /> <br />ESTIMATED COSTS <br /> <br />Construction Costs <br /> <br />Construction Overhead (40%) <br /> <br />Total Estimated Project Cost <br /> for Service <br /> <br />Sanitary <br /> Sewer <br /> <br />$20,000.00 <br /> <br /> 8~800.00 <br />$28,000.00 <br /> <br />Watermain <br /> <br />$19,000.00 <br /> <br />. 7~600.00 <br />$26,600.00 <br /> <br />Vl. <br /> <br />METHOD OF PAYMENT AND SU>gIA~RY OF COSTS <br /> <br />Based on the city's current assessment ordinance, the petitioners <br />of the sewer and water must pay the entire cost on an interim <br />basis. Therefore, the total cost of project is proposed to be <br />assessed to Outlot B Rum Acre Estates. The recommended <br />assessment period is five (5) years for residential development. <br />The interest charged would be one and one-half percent (1.5%) <br />greater than the current rate of interest cn the bonds. <br /> <br />The following table provides a summary cf the costs for the sewer <br />and water extensions based on Ounlot B subdividing into 75 lots. <br /> <br /> <br />