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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $1,395.90. 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 />$1,395.90 <br />2019 $139.59 $89.44 $229.03 $1,256.31 <br />2020 $139.59 $65.58 $205.17 $1,116.72 <br />2021 $139.59 $58.29 $197.88 $977.13 <br />2022 $139.59 $51.01 $190.60 $837.54 <br />2023 $139.59 $43.72 $183.31 $697.95 <br />2024 $139.59 $36.43 $176.02 $558.36 <br />2025 $139.59 $29.15 $168.74 $418.77 <br />2026 $139.59 $21.86 $161.45 $279.18 <br />2027 $139.59 $14.57 $154.16 $139.59 <br />2028 $139.59 $7.29 $146.88 $0.00 <br />Total $1,395.90 $417.33 $1,813.23 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />