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SCHEDULE OF PAYMENT <br /> The special assessment of such improvement to your property is $6,636.40. 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 /> $6,636.40 <br /> 2017 $663.64 $294.55 $958.19 $5,972.76 <br /> 2018 $663.64 $223.98 $887.62 $5,309.12 <br /> 2019 $663.64 $199.09 $862.73 $4,645.48 <br /> 2020 $663.64 $174.21 $837.85 $3,981.84 <br /> 2021 $663.64 $149.32 $812.96 $3,318.20 <br /> 2022 $663.64 $124.43 $788.07 $2,654.56 <br /> 2023 $663.64 $99.55 $763.19 $1,990.92 <br /> 2024 $663.64 $74.66 $738.30 $1,327.28 <br /> 2025 $663.64 $49.77 $713.41 $663.64 <br /> 2026 $663.64 $24.89 $688.53 $0.00 <br /> Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />