Principal and interest on the debt

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Reference no: EM13130534

The City of Dayville has undertaken a sidewalk construction project. The project is being financed by the proceeds from the issue on July 1, 2008, of $500,000 of 7% special assessment debt. One quarter of the principal plus interest is payable on June 30 of each year beginning June 30, 2009. Property owners are assessed to provide the funds to pay the principal and interest on the debt.

Reference no: EM13130534

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