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SCHEDULE OF PAYMENT <br />The special assessment of such improvement to your property is $1,445.00. 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 />$1,445.00 <br />2020 <br />$ 144.50 <br />$ 69.48 <br />$ 213.98 <br />$1,300.50 <br />2021 <br />$ 144.50 <br />$ 50.72 <br />$ 195.22 <br />$1,156.00 <br />2022 <br />$ 144.50 <br />$ 45.08 <br />$ 189.58 <br />$1,011.50 <br />2023 <br />$ 144.50 <br />$ 39.45 <br />$ 183.95 <br />$ 867.00 <br />2024 <br />$ 144.50 <br />$ 33.81 <br />$ 178.31 <br />$ 722.50 <br />2025 <br />$ 144.50 <br />$ 28.18 <br />$ 172.68 <br />$ 578.00 <br />2026 <br />$ 144.50 <br />$ 22.54 <br />$ 167.04 <br />$ 433.50 <br />2027 <br />$ 144.50 <br />$ 16.91 <br />$ 161.41 <br />$ 289.00 <br />2028 <br />$ 144.50 <br />$ 11.27 <br />$ 155.77 <br />$ 144.50 <br />2029 <br />$ 144.50 <br />$ 5.64 <br />$ 150.14 <br />$ 00.00 <br />Total <br />$ 1,445.00 <br />$ 323.08 <br />$ 1,768.08 <br />Please call Bruce Westby, City Engineer, at 763-427-1410 with questions. <br />