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3. In practice, the specials were paid off as Individual <br />lots were sold, leaving some lots with unpaid balances from <br />the beginning of the assessments, which continue to accrue interest. <br />4. As of October 16, 1985, according to the City's records, <br />eight lots had been sold with principal payments of special <br />assessments to the City for each lot of $10,208.34, for a total <br />principal paid of $81,662.72, Leaving a balance of $163,333.28 <br />(see No. 2 in the index). <br />5. This accounts for eight lots. The bank claims and <br />the tax records show 14 lots remain unpaid, leaving two lots <br />unaccounted for in any written report. They are: <br />a. Lot 4, Block 1, Tax ID No. 0026';U b. Lot 5, Block 1, Tax ID No. 0027- A i G <br />1hr- <br />6. Later, in a letter of explanation from the City (see <br />No. 5 of thi. index) the City contends that the actual amount <br />of assessments that were spread was $239,217.84 instead of $245,O00.00. <br />This amount spread over 24 lots equals $9,967.41 per lot. <br />7. As of January 30, 1986, the bank shows a balance on <br />the Letter of Credit to , ;146,407.45 (see No. 8 in the index). <br />There is no record showing how many loss the bankshows as unpaid <br />but it claims to have released ten lots, leaving 14 left to <br />be paid, and the tax records bear this out. <br />8. I'm not sure how the bank reached the amount of 5146,407.45 <br />unless: <br />2 <br />