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Assessment Hearings <br />Page 2 <br />November 27~ 1978 <br /> <br />City Engineer Raatikka stated that Carson would be paying for that part <br />of 153rd in Whispering Pines IV. <br /> <br />Ms. Pat Stelling asked what the difference between administrative and fiscal <br />costs are on the total cost of the project. <br /> <br />City Engineer Raatikka stated that the administrative costs involve the <br />City's cost for mailings, legal notices, etc. and the fiscal agent is the <br />interest prepaid to the bonding company. <br /> <br />Mr. Ken Wagner asked about prepaying the assessment. <br /> <br />City Administrator Schnelle explained the process to Mr. Wagner. <br /> <br />~he third assessment hearing is for the Menkveld's Country Park. City <br />Engineer Raatikka explained the entire project isn't complete as yet as <br />the restoration is left, but to avoid paying an additional year of in- <br />terest on the bond it is to the citizens benefit to hold the hearing at <br />this time. <br /> <br />City Engineer Raatikka also explained there were two payment methods to <br />choose from; equal payment or the declining balance method~ <br /> <br />Mr. Duane Davis asked if the City is prepared to repair the road. <br /> <br />Mayor Cox told him that the City is prepared. <br /> <br />City Engineer Raatikka explained the contractor is responsible for the <br />repair to roads for a period of one year from the date of completion. <br />r~he estimated completion date is next spring, sometime around May and <br />N.D.II. will be responsible for a year from that time. <br /> <br />Mr. Fred Strobel asked what the total interest over a ten year period is. <br /> <br />City Engineer Raatikka explained that with the equal payment method the <br />interest is $449.18 and the declining payment method is $408.09. <br /> <br />The fourth assessment hearing is for the Greenland Hills #2. City <br />Engineer Raatikka explained the entire project isn't complete as yet as <br />the restoration is left, but to avoid paying an additional year of in- <br />terest on the bond it is to the citizens benefit to hold the hearing at <br />this time. <br /> <br />City Engineer Raatikka also explained there were two payment methods to <br />choose from; equal payment or the declining balance method. <br /> <br />Mr. Bob Miller asked about prepaying the assessment. <br /> <br />City Engineer Raatikka explained the process to Mr. Miller. <br /> <br />Mr. Bill DeZampa asked what options we have for paying this assessment off. <br /> <br />City Engineer Raatikka explained the equal payment method or the declining <br />balance method. <br /> <br /> <br />