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Page 2 <br />November 27, :1978 <br /> <br />City Engineer Raatikka stated that Carson would be paying for that part <br />of 153rd in I~hispering 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 />The 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 explBined~there:were~two..payment:methodsito :- <br />choose'from; equal 'payment or~the~dedlinin~.~alance~me.tho84~- <br /> <br />Mr. Duane Davis asked if the~City is prepared to repairlthe 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 <br />The estimated completion',date-tismext~spring~:sometim~.~:around May:~and <br />N.D.H.'will~be'responsibl~:fora year~from:that::time-~~- <br /> <br />Mr'.' Fred Strobel asked What thei total interest3over, 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. Bil.1 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 />