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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $5,116.90. This cost will be <br />assessed over 10 years at 3.90 percent interest per year. Listed below is a breakdown of the yearly <br />principal and interest costs. Please note the change in the first year's interest cost. The first year's <br />interest covers a period of 450 days from October 8, 2019 to December 31, 2020. <br />Year <br />Principal <br />3.90% <br />Interest <br />Payment <br />Amount <br />Pay-off <br />Balance <br />$5,116.90 <br />2020 <br />$511.69 <br />$246.03 <br />$757.72 <br />$4,605.21 <br />2021 <br />$511.69 <br />$179.60 <br />$691.29 <br />$4,093.52 <br />2022 <br />$511.69 <br />$159.65 <br />$671.34 <br />$3,581.83 <br />2023 <br />$511.69 <br />$139.69 <br />$651.38 <br />$3,070.14 <br />2024 <br />$511.69 <br />$119.74 <br />$631.43 <br />$2,558.45 <br />2025 <br />$511.69 <br />$99.78 <br />$611.47 <br />$2,046.76 <br />2026 <br />$511.69 <br />$79.82 <br />$591.51 <br />$1,535.07 <br />2027 <br />$511.69 <br />$59.87 <br />$571.56 <br />$1,023.38 <br />2028 <br />$511.69 <br />$39.91 <br />$551.60 <br />$511.69 <br />2029 <br />$511.69 <br />$19.96 <br />$531.65 <br />$0.00 <br />Total <br />$5,116.90 <br />$1,144.05 <br />$6,260.95 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />