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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $4,500.00. 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 />$4,500.00 <br />2016 <br />$450.00 <br />$227.72 <br />$677.72 <br />$4,050.00 <br />2017 <br />$450.00 <br />$168.48 <br />$618.48 <br />$3,600.00 <br />2018 <br />$450.00 <br />$149.76 <br />$599.76 <br />$3,150.00 <br />2019 <br />$450.00 <br />$131.04 <br />$581.04 <br />$2,700.00 <br />2020 <br />$450.00 <br />$112.32 <br />$562.32 <br />$2,250.00 <br />2021 <br />$450.00 <br />$93.60 <br />$543.60 <br />$1,800.00 <br />2022 <br />$450.00 <br />$74.88 <br />$524.88 <br />$1,350.00 <br />2023 <br />$450.00 <br />$56.16 <br />$506.16 <br />$900.00 <br />2024 <br />$450.00 <br />$37.44 <br />$487.44 <br />$450.00 <br />2025 <br />$450.00 <br />$18.72 <br />$468.72 <br />$0.00 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />