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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $6,500.00. This cost will be <br />assessed over 10 years at 4.16 percent interest per year. Listed below is a breakdown of the <br />yearly principal and interest costs. Please note the change in the first year's interest cost. The <br />first year's interest covers a period of 444 days from October 13, 2015 to December 31, 2016. <br />Year <br />Principal <br />4.16% <br />Interest <br />Payment <br />Amount <br />Pay-off <br />Balance <br />$6,500.00 <br />2016 <br />$650.00 <br />$328.92 <br />$978.92 <br />$5,850.00 <br />2017 <br />$650.00 <br />$243.36 <br />$893.36 <br />$5,200.00 <br />2018 <br />$650.00 <br />$216.32 <br />$866.32 <br />$4,550.00 <br />2019 <br />$650.00 <br />$189.28 <br />$839.28 <br />$3,900.00 <br />2020 <br />$650.00 <br />$162.24 <br />$812.24 <br />$3,250.00 <br />2021 <br />$650.00 <br />$135.20 <br />$785.20 <br />$2,600.00 <br />2022 <br />$650.00 <br />$108.16 <br />$758.16 <br />$1,950.00 <br />2023 <br />$650.00 <br />$81.12 <br />$731.12 <br />$1,300.00 <br />2024 <br />$650.00 <br />$54.08 <br />$704.08 <br />$650.00 <br />2025 <br />$650.00 <br />$27.04 <br />$677.04 <br />$0.00 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />