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4/16/2025 <br />9 <br />ASSESSMENTS <br />•Assessments paid over 10-Yr Period (Mill and Overlay) <br />•Assessments paid over 15-Yr Period (Reconstruction) <br />•Interest rate determined at time of bond sale <br />Option Deadline <br />1. Pay-off full assessment to avoid interest -November 30, 2025 <br />-November 14 (every year after) <br />2. Partial Payment -November 1 <br />3. Apply directly to Property Tax -Automatic if options above are not <br />exercised <br />-2% over true interest cost <br />PROJECT SCHEDULE <br />•Council Authorizes Feasibility June 11, 2024 <br />(1st of 8 Meetings) <br />•Council Accepts Feasibility August 13, 2024 <br />(2nd of 8 Meetings) <br />•1st Public Informational Meeting September 25, 2024 <br />(3rd of 8 Meetings) <br />•2nd Public Informational Meeting December 4, 2024 <br />(4th of 8 Meetings) <br />•Council Approves Plans December 10, 2024 <br />(5th of 8 Meetings) <br />•Open Bids / Compute Assessments February 2025 <br />(6th of 8 Meetings) <br />46