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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $5,710.30. 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 />$5,710.30 <br />2019 $571.03 $365.86 $936.89 $5,139.27 <br />2020 $571.03 $268.27 $839.30 $4,568.24 <br />2021 $571.03 $238.46 $809.49 $3,997.21 <br />2022 $571.03 $208.65 $779.68 $3,426.18 <br />2023 $571.03 $178.85 $749.88 $2,855.15 <br />2024 $571.03 $149.04 $720.07 $2,284.12 <br />2025 $571.03 $119.23 $690.26 $1,713.09 <br />2026 $571.03 $89.42 $660.45 $1,142.06 <br />2027 $571.03 $59.62 $630.65 $571.03 <br />2028 $571.03 $29.81 $600.84 $0.00 <br />Total $5,710.30 $1,707.21 $7,417.51 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />