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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $958.40. 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 />$958.40 <br />2019 $95.84 $61.40 $157.24 $862.56 <br />2020 $95.84 $45.03 $140.87 $766.72 <br />2021 $95.84 $40.02 $135.86 $670.88 <br />2022 $95.84 $35.02 $130.86 $575.04 <br />2023 $95.84 $30.02 $125.86 $479.20 <br />2024 $95.84 $25.01 $120.85 $383.36 <br />2025 $95.84 $20.01 $115.85 $287.52 <br />2026 $95.84 $15.01 $110.85 $191.68 <br />2027 $95.84 $10.01 $105.85 $95.84 <br />2028 $95.84 $5.00 $100.84 $0.00 <br />Total $958.40 $286.53 $1,244.93 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />