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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $728.90. 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 />$728.90 <br />2016 <br />$72.89 <br />$36.89 <br />$109.78 <br />$656.01 <br />2017 <br />$72.89 <br />$27.29 <br />$100.18 <br />$583.12 <br />2018 <br />$72.89 <br />$24.26 <br />$97.15 <br />$510.23 <br />2019 <br />$72.89 <br />$21.23 <br />$94.12 <br />$437.34 <br />2020 <br />$72.89 <br />$18.19 <br />$91.08 <br />$364.45 <br />2021 <br />$72.89 <br />$15.16 <br />$88.05 <br />$291.56 <br />2022 <br />$72.89 <br />$12.13 <br />$85.02 <br />$218.67 <br />2023 <br />$72.89 <br />$9.10 <br />$81.99 <br />$145.78 <br />2024 <br />$72.89 <br />$6.06 <br />$78.95 <br />$72.89 <br />2025 <br />$72.89 <br />$3.03 <br />$75.92 <br />$0.00 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />