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sorry, too many units I'm juggling. yes, 350 has assessments, 314 has no <br />assessments... <br />right now my main idea is paying off the principal and than being assessed the <br />interest difference= in a yearly fashion. <br />for the city, this may make filling some of these units much easier, which <br />should be good for all. Plus, the city would have immediate principal they can then put in <br />any fund they want to immediately make ADDITIONAL interest they otherwise would be out. of <br />1'1l call later <br />-dm <br />On Thu, Aug 16, 2012 at 1:29 PM, Joel Manson <joel.hanson @ci.little- <br />canada.mn.us: wrote: <br />I think it is the opposite. Unit 314 is shown as paid and Unit 350 has <br />assessments. <br />I'm attaching a summary sheet of the bond issue. You will see our true <br />interest cost. is over 4.75 percent and we can't call these bonds until 2019. If rates <br />stay low until that time, the ability to prepay may once again exist, but that is less <br />than certain today. <br />There is no variable rate on our bonds. The rate was set when they were <br />sold. <br />I hadn't contemplated prepaying the pr.inc.ipal and then only paying <br />interest. The concern in doing that is the administrative process involved and giving all <br />outstanding payers that option. <br />JH <br />Original Message <br />From: Dana Morrone ( mail.to:danajmorrone @gmail.com] <br />Sent: Thursday, August 16, 2012 1:22 PM <br />To: Joel Hanson <br />Subject: Re: Assessments on condos at Canabury Square <br />Hi Joel, <br />Thank you for your help. <br />'.0 will try to give you a call this afternoon (Thursday), as work <br />permits. <br />Essentially I just would want to know what the assessments are for 130 <br />Demont Ave 4314, Little Canada. It's my understanding they are about $27000. It seems that <br />unit 4350 does not have assessments on it. <br />Next, I am curious if one can repay the principal on the bond, then just <br />have to pay the interest on the bond in a yearly fashion as per whatever that yearly <br />amount may be.. T realize this interest may be tied to returns in bond markets, but I would <br />curious in knowing approximately what amount this interest likely is - based on previous <br />years' performance. <br />Sincerely, <br />Dana Morrone <br />2 <br />3 <br />