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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $8,678.30. This cost will be <br />assessed over 10 years at 4.60 percent interest per year. Listed below is a breakdown of the <br />yearly and total principal and interest costs. Please note the change in the first year's interest <br />cost. The first year's interest covers a period of 447 days from October 10, 2017 to December <br />31, 2018. <br />4.60% <br />Year Principal Interest <br />Payment <br />Amount <br />2018 $867.83 $488.89 $1,356.72 <br />2019 $867.83 $359.28 $1,227.11 <br />2020 $867.83 $319.36 $1,187.19 <br />2021 $867.83 $279.44 $1,147.27 <br />2022 $867.83 $239.52 $1,107.35 <br />2023 $867.83 $199.60 $1,067.43 <br />2024 $867.83 $159.68 $1,027.51 <br />2025 $867.83 $119.76 $987.59 <br />2026 $867.83 $79.84 $947.67 <br />2027 $867.83 $39.92 $907.75 <br />TOTAL $8,678.30 $2,285.29 $10,963.59 <br />Pay-off <br />Balance <br />$8,678.30 <br />$7,810.47 <br />$6,942.64 <br />$6,074.81 <br />$5,206.98 <br />$4,339.15 <br />$3,471.32 <br />$2,603.49 <br />$1,735.66 <br />$867.83 <br />$0.00 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />