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the City must follow these procedures.  All property owners will be notified of the cost per foot and their total cost.  Another public hearing will be held to determine if there are any errors in the assessment roll.  When the list is approved by the City Council each property owner will be given another notice and 60 days after this 2^nd notice to pay any, or all, of the bill without interest.  After 60 days, the interest will start accumulating on the remaining balance.  That balance and the interest are divided up for ten (10) years of payments.  The interest rate will be determined by how much the bank will charge the City to finance this project.
• The 2013 special assessment will be sent to the county for collection so all payments will be paid with the owner's property taxes for the next ten years.  In past years all payments were collected at City Hall, but this year the City will start using Plan 1 of the collection options.  Annually, the County will be notified what each property owner owes with their taxes.  Extra principle can be paid at City Hall at any time during the 10 years, but the amount of the annual payments will not change, only the length of time paying them gets reduced.
• There is an exception for the property owners who are over 65 years of age or who are disabled and meet the low income guidelines.  Those persons may postpone their payments until the property is sold.  The property owners can provide the proof of income to participation in this option during the 60 days-grace period.
• We hope this will help clear up the questions you might have.  Please get out and vote February 26.
• Groton City Council