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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $7,747.60. 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 />$7,747.60 <br />2018 $774.76 $436.46 $1,211.22 $6,972.84 <br />2019 $774.76 $320.75 $1,095.51 $6,198.08 <br />2020 $774.76 $285.11 $1,059.87 $5,423.32 <br />2021 $774.76 $249.47 $1,024.23 $4,648.56 <br />2022 $774.76 $213.83 $988.59 $3,873.80 <br />2023 $774.76 $178.19 $952.95 $3,099.04 <br />2024 $774.76 $142.56 $917.32 $2,324.28 <br />2025 $774.76 $106.92 $881.68 $1,549.52 <br />2026 $774.76 $71.28 $846.04 $774.76 <br />2027 $774.76 $35.64 $810.40 $0.00 <br />TOTAL $7,747.60 $2,040.21 $9,787.81 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />