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• <br /> y.. <br /> •SPECIAL ASSESSMENTS <br /> 4 A loan from the City to cover a portion of <br /> infrastructure improvement costs <br /> 4 Spread over 10-year period <br /> 4 Annual interest rate of 6.5% <br /> 4 Prepay without interest until 12/19/01 <br /> 4 If not prepaid,then added to Property Tax payment ;Y; <br /> beginning 2002 <br /> -4 May pay off remaining principle and outstanding <br /> Interest any time during 10-year period1 ' <br /> • <br /> .-;;1 URCES OF FUNDING (CONT'D) <br /> � . : <br /> AL ASSESSMENTS (CONT'D) <br /> • dship deferrals for homesteaded property <br /> •roperty owner 65 years or older,or retired <br /> by a permanent disability <br /> sessments continue to bear interest • •••" <br /> eferrals terminated upon sale or transfer <br /> of property,homestead status change, <br /> or if Council rescinds hardship status <br /> 7 u <br /> • MN/DOT TURNBACK FUNDS $600,000 18.8% t*'' <br /> • MN/DOT MUNICIPAL STATE AID $305,000 9.6% <br /> • MN/DOT COOPERATIVE AGREEMENT $45,360 1.5% <br /> • FEDERAL AID $360,500 11.3% .'�a.: <br /> • CITY SANITARY SEWER RESERVES $439,900 13.8% -;.. <br /> • CITY WATER MAIN RESERVES $394,000 12.4% <br /> • CITY STORM WATER UTILITY $63,841 2.0% 'M <br /> • CITY PAVEMENT MGMT FUND $24,716 0.8% • 'F' <br /> • SPECIAL ASSESSMENTS $958,-739 30.1% <br /> $3,192,056 <br />