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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $33,363.90. 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 />$3,336.39 <br />$3,336.39 <br />$3,336.39 <br />$3,336.39 <br />$3,336.39 <br />$3,336.39 <br />$3,336.39 <br />$3,336.39 <br />$3,336.39 <br />$3,336.39 <br />$33,363.90 <br />4.60% <br />Interest <br />$1,879.53 <br />$1,381.27 <br />$1,227.79 <br />$1,074.32 <br />$920.84 <br />$767.37 <br />$613.90 <br />$460.42 <br />$306.95 <br />$153.47 <br />$8,785.86 <br />Payment <br />Amount <br />$5,215.92 <br />$4,717.66 <br />$4,564.18 <br />$4,410.71 <br />$4,257.23 <br />$4,103.76 <br />$3,950.29 <br />$3,796.81 <br />$3,643.34 <br />$3,489.86 <br />$42,149.76 <br />Pay-off <br />Balance <br />$33,363.90 <br />$30,027.51 <br />$26,691.12 <br />$23,354.73 <br />$20,018.34 <br />$16,681.95 <br />$13,345.56 <br />$10,009.17 <br />$6,672.78 <br />$3,336.39 <br />$0.00 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />