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EXAMPLE <br /> BETTERMENT OR SPECIAL ASSESSMENT PAYMENT SCHEDULE -Semi-annual Tax Payment Systemx <br /> Total Assessment: $10,000 <br /> Apportionment Schedule: 20 years <br /> Annual Principal Payment: $500 <br /> Interest Rate: 5% <br /> Commitment Date: 4/1/2001 <br /> OPTION 1 -First Apportionment Billed in FY2002 <br /> FY2001 FY2002 FY2003 FY2004 FY2005 <br /> Real Estate Tax $2000 $2100 $2200 2300 2400 <br /> Special Assessment 0 500 500 500 500 <br /> Committed Interest 0 208 475 450 425 <br /> (5 months on$10,000) (1 year on$9,500) (1 year on$9,000) (1 year on$8,500) <br /> (5/1/2001 to 10/1/2001) (10/1/2001 to 10/1/2002) (10/1/2002 to 10/1/20031 (10/1/2003 to 10/1/2004) <br /> TOTAL DUE 2000 2808 3175 3250 3325 <br /> First Half Payment 1000 1758 2075 2100 2125 <br /> Second Half Payment 1000 1050 1100 1150 1200 <br /> OPTION 2-First ApEortionment Billed in FY200 (must begin billing no later than bill for taxes assessed as of January 1,2002 <br /> FY2002 FY2003 FY2004 FY2005 FY2006 <br /> Real Estate Tax $2000 $2100 $2200 2300 2400 <br /> Special Assessment 0 500 500 500 500 <br /> Committed Interest 0 708 475 450 425 <br /> (17 months on$10,000) (1 year on$9,500) (1 year on$9,000) (1 year on$8.500) <br /> (5/1/2001 to 10/1/2002) (10/1/2002 to 10/1/2003) (10/1/2003 to 10/1/2004) (10/1/2004 to 10/1/2005) <br /> TOTAL DUE 2000 3308 3175 3250 3325 <br /> First Half Payment 1000 2258 2075 2100 2125 <br /> Second Half Payment 1000 1050 1100 1150 1200 <br /> `Betterment May be Included in Preliminary Bill if Issued <br />