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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $856.50. 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 />$856.50 <br />2019 $85.65 $54.88 $140.53 $770.85 <br />2020 $85.65 $40.24 $125.89 $685.20 <br />2021 $85.65 $35.77 $121.42 $599.55 <br />2022 $85.65 $31.30 $116.95 $513.90 <br />2023 $85.65 $26.83 $112.48 $428.25 <br />2024 $85.65 $22.35 $108.00 $342.60 <br />2025 $85.65 $17.88 $103.53 $256.95 <br />2026 $85.65 $13.41 $99.06 $171.30 <br />2027 $85.65 $8.94 $94.59 $85.65 <br />2028 $85.65 $4.47 $90.12 $0.00 <br />Total $856.50 $256.07 $1,112.57 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />