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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $1,396.70. This cost will be <br />assessed over 10 years at 5.22 percent interest per year. Listed below is a breakdown of the <br />yearly principal and interest costs. Please note the change in the first year's interest cost. The <br />first year's interest covers a period of 448 days from October 9, 2018 to December 31, 2019. <br />5.22% Payment Pay-off <br />Year Principal Interest Amount Balance <br />$1,396.70 <br />2019 $139.67 $89.49 $229.16 $1,257.03 <br />2020 $139.67 $65.62 $205.29 $1,117.36 <br />2021 $139.67 $58.33 $198.00 $977.69 <br />2022 $139.67 $51.04 $190.71 $838.02 <br />2023 $139.67 $43.74 $183.41 $698.35 <br />2024 $139.67 $36.45 $176.12 $558.68 <br />2025 $139.67 $29.16 $168.83 $419.01 <br />2026 $139.67 $21.87 $161.54 $279.34 <br />2027 $139.67 $14.58 $154.25 $139.67 <br />2028 $139.67 $7.29 $146.96 $0.00 <br />Total $1396.70 $417.57 $1,814.27 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />