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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $6,500.00. 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 />4.60% Payment Pay-off <br />Year Principal Interest Amount Balance <br />$6,500.00 <br />2018 $650.00 $366.17 $1,016.17 $5,850.00 <br />2019 $650.00 $269.10 $919.10 $5,200.00 <br />2020 $650.00 $239.20 $889.20 $4,550.00 <br />2021 $650.00 $209.30 $859.30 $3,900.00 <br />2022 $650.00 $179.40 $829.40 $3,250.00 <br />2023 $650.00 $149.50 $799.50 $2,600.00 <br />2024 $650.00 $119.60 $769.60 $1,950.00 <br />2025 $650.00 $89.70 $739.70 $1,300.00 <br />2026 $650.00 $59.80 $709.80 $650.00 <br />2027 $650.00 $29.90 $679.90 $0.00 <br />TOTAL $6,500.00 $1,711.67 $8,211.67 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />