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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $23,948.80. 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 />$2,394.88 <br />$2,394.88 <br />$2,394.88 <br />$2,394.88 <br />$2,394.88 <br />$2,394.88 <br />$2,394.88 <br />$2,394.88 <br />$2,394.88 <br />$2,394.88 <br />$23,948.80 <br />4.60% <br />Interest <br />$1,349.14 <br />$991.48 <br />$881.32 <br />$771.15 <br />$660.99 <br />$550.82 <br />$440.66 <br />$330.49 <br />$220.33 <br />$110.16 <br />$6,306.54 <br />Payment <br />Amount <br />$3,744.02 <br />$3,386.36 <br />$3,276.20 <br />$3,166.03 <br />$3,055.87 <br />$2,945.70 <br />$2,835.54 <br />$2,725.37 <br />$2,615.21 <br />$2,505.04 <br />$30,255.34 <br />Pay-off <br />Balance <br />$23,948.80 <br />$21,553.92 <br />$19,159.04 <br />$16,764.16 <br />$14,369.28 <br />$11,974.40 <br />$9,579.52 <br />$7,184.64 <br />$4,789.76 <br />$2,394.88 <br />$0.00 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />