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� <br /> � PUBLIC HEARING ON 73-1 ASSESSMENTS, SEPTEMBER 2 , 1975 Page 7 <br /> � , What legal recourse do people have who do not <br /> agree with decision of the Council? <br /> � <br /> • Searles read from a notice that an owner may <br /> appeal an assessment to District Court by <br /> � serving notice of appeal upon Mayor or Clerk <br /> of the City within twenty days of adoption <br /> � of assessment. <br /> � What is the percentage of interest on the Darrell Stewart <br /> bonds and what is the pay back period? <br /> � <br /> • Payment period on the bonds runs through Phil Chenowith <br /> March 3, 1991 with principal payments <br /> � beginning 1977. There is a 6. 91% average <br /> interest rate for 15 years. Payments match up <br /> � assessment to the bonds. <br /> � Bond was sold at 6.91%, citizens assessment <br /> is at 8% , what is being done with the l. l%? <br /> • The difference is standard, in fact law, and Phil Chenowith <br /> necessary to pay administrative costs of <br /> � collecting the assessments. <br /> � Could we pay our assessment in full and only <br /> pay 6.91�? <br /> � <br /> If you pay in full within 30 days of adoption Phil Chenowith <br /> � of roll, you pay no interest. See sheet <br /> "To the Property Owners" for more information. <br /> (Sheet attached) <br /> � Was there a Public Hearing between initial <br /> � Public Hearings to begin project and the <br /> Public Hearing tonight? <br /> � <br /> Every meeting by the Council is a public Searles <br /> � meeting. <br /> � This has been going on for two years and now <br /> � you will decide in two days what you are <br /> going to do? <br /> � Study has been going on concerning this Searles <br /> � project and the proposed assessments. Now <br /> we have the final costs to be assessed, which <br /> � are less than the estimates. We will review <br /> . all cor,unents made at the previously announced <br /> Special Council meeting. You may attend <br /> � these if you desire. <br /> � <br /> f <br /> � <br /> � <br /> � <br />