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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $1,425.20. 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 />$1,425.20 <br />2019 $142.52 $91.31 $233.83 $1,282.68 <br />2020 $142.52 $66.96 $209.48 $1,140.16 <br />2021 $142.52 $59.52 $202.04 $997.64 <br />2022 $142.52 $52.08 $194.60 $855.12 <br />2023 $142.52 $44.64 $187.16 $712.60 <br />2024 $142.52 $37.20 $179.72 $570.08 <br />2025 $142.52 $29.76 $172.28 $427.56 <br />2026 $142.52 $22.32 $164.84 $285.04 <br />2027 $142.52 $14.88 $157.40 $142.52 <br />2028 $142.52 $7.44 $149.96 $0.00 <br />Total $1,425.20 $426.09 $1,851.29 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />