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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $13,999.00. 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 />Year <br />2018 <br />2019 <br />2020 <br />2021 <br />2022 <br />2023 <br />2024 <br />2025 <br />2026 <br />2027 <br />TOTAL <br />Principal <br />$1,399.90 <br />$1,399.90 <br />$1,399.90 <br />$1,399.90 <br />$1,399.90 <br />$1,399.90 <br />$1,399.90 <br />$1,399.90 <br />$1,399.90 <br />$1,399.90 <br />$13,999.00 <br />4.60% <br />Interest <br />$788.62 <br />$579.56 <br />$515.16 <br />$450.77 <br />$386.37 <br />$321.98 <br />$257.58 <br />$193.19 <br />$128.79 <br />$64.40 <br />$3,686.42 <br />Payment <br />Amount <br />$2,188.52 <br />$1,979.46 <br />$1,915.06 <br />$1,850.67 <br />$1,786.27 <br />$1,721.88 <br />$1,657.48 <br />$1,593.09 <br />$1,528.69 <br />$1,464.30 <br />$17,685.42 <br />Pay-off <br />Balance <br />$13,999.00 <br />$12,599.10 <br />$11,199.20 <br />$9,799.30 <br />$8,399.40 <br />$6,999.50 <br />$5,599.60 <br />$4,199.70 <br />$2,799.80 <br />$1,399.90 <br />$0.00 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />