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� . , . October 10,2000 Deaz Project Area Resident; Subject: Assessments and Sewer Connection for Webber Hills Area Sanitary Sewer Project Project Assessments At the May 8, 2000 assessment hearing the assessment amount for your property was set at $9,500 for installation of the sewer up to the connection stub at the property line. The assessment interest rate was set at 8.00%per year. Project construction is substantially complete,and the assessment has been revised to reflect actual construction costs.The bond sale to finance the project has been completed,and the assessment interest rate will be lowered to 6,25%.This is the same interest rate for other sewer projects over the past several years. The City Council, at its October 9, 2000 meeting, amended the assessment roll for the Webber Hills area sanitary sewer project tm reflect those changes as follows: 1. Assessment Am�unt and Time Period. The final assessment amount adopted for your property is 7 250.The assessment will appear on yuur 2001 tax statement and is for a 15-yeaz period 2. Interest Rate. . The interest rate applied to the assessment is 6.25%. 3. Initial Prepavmept Period. The final date for full or partial prepayment of the assessment without interest is Wednesday,November 8.2000. The City can accept a full or partial prepayment of the assessment through November 30,2000 however, any pr�payments received between November 9, 2000 and November 30, 2000 will incur interest from October 9, 2000 through the date of payment. 4. Future Prepavme�nt Periods. Beginning in 20p1, and every year thereafter,the remaining outstanding assessment may be paid off in full before No�vember 15�',or interest will be charged through December 31 of the next succeec�ing yeaz.