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SCHEDULE OF PAYMENT <br /> The special assessment of such improvement to your property is $950.00. This cost will be <br /> assessed over 10 years at 3.75 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 432 days from October 25, 2016 to December 31, 2017. <br /> 3.75% Payment Pay-off <br /> Year Principal Interest Amount Balance <br /> $950.00 <br /> 2017 $95.00 $42.16 $137.16 $855.00 <br /> 2018 $95.00 $32.06 $127.06 $760.00 <br /> 2019 $95.00 $28.50 $123.50 $665.00 <br /> 2020 $95.00 $24.94 $119.64 $570.00 <br /> 2021 $95.00 $21.38 $116.38 $475.00 <br /> 2022 $95.00 $17.81 $112.81 $380.00 <br /> 2023 $95.00 $14.25 $109.25 $285.00 <br /> 2024 $95.00 $10.69 $105.69 $190.00 <br /> 2025 $95.00 $7.13 $102.13 $95.00 <br /> 2026 $95.00 $3.56 $98.56 $0.00 <br /> Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />