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Gil► '� L �1F;STING <br />TO: <br />FROM: <br />DATE: <br />Mayor and City Council <br />Mark Bernhardson, City Administrator��' <br />June 3, 1985 <br />JIJr-I 10 <br />CI t'Y OF ORONO <br />SUBJECT: Crystal Bay Sewer Project - Method of Payment <br />As an informational item in your packets for the Council meeting <br />of May 28th was a memo from Tom Kuehn to myself comparing <br />Alternate A payments with varying principal and interest. <br />from year to year. <br />Alternate B equal principal with varying interest <br />totals. <br />As outlined in that memo it is the staffs recommendation that <br />Alternate B be utilized as the method of payment for this <br />assessment primarily for the following reasons: <br />1. From an accounting standpoint Alternate A becomes <br />extremely complex for the County, ourselves and the <br />individual assessment payers. <br />2. The overall cost of the asses..:nent resulting in an <br />interest payment of $139.00 per year average increase or <br />approximately $2,082.00 over the life of the assessment. <br />Should you have any further questions please feel free to contact <br />me. <br />