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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $750.80. 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 />$750.80 <br />2019 $75.08 $48.10 $123.18 $675.72 <br />2020 $75.08 $35.27 $110.35 $600.64 <br />2021 $75.08 $31.35 $106.43 $525.56 <br />2022 $75.08 $27.43 $102.51 $450.48 <br />2023 $75.08 $23.52 $98.60 $375.40 <br />2024 $75.08 $19.60 $94.68 $300.32 <br />2025 $75.08 $15.68 $90.76 $225.24 <br />2026 $75.08 $11.76 $86.84 $150.16 <br />2027 $75.08 $7.84 $82.92 $75.08 <br />2028 $75.08 $3.92 $79.00 $0.00 <br />Total $750.80 $224.47 $975.27 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />