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MRS. ZEHM: No, I have not received any. . MAYOR WOODBURN: I will open the public hearing. The developer is here if you would to make any comments. MR. CURT LAUGHINGHOUSE, Derrick Land Company: We did petition for the improvements within Arden Oaks and we do hope they will be improved and put upon the program for next summer and be financed as a public improvement, as we have requested. One thing I was surprised at, and it's not a great deal, but I was surprised at the size of the section and I guess I need to ask Mr. Christoffersen - the size of the road section - is that 34 feet back to back or inside the faces? MR. CHRISTOFFERSEN : Face to face. MR. LAUGHINGHOUSE: So it's even greater, 35 feet perhaps, back to back. When I say back to back, I mean back of curb to back of curb. MR. CHRISTOFFERS EN: Back of curb - it would be closer to 35, 35 1/2. MR. LAUGHINGHOUSE: That's just a bigger section than what I'm accustomed to, but if that's the City standard, that's just fine. Mr. Popovich did refer to the terms of assessment. That is, whether its 15 years or three or five or otherwise. . We would prefer longer assessments - it makes it much more reasonable for - of course, this will be settled next fall. As you can imagine, these lots will not necessarily sellout immediately, and the better terms that can be available, the easier it will be on the ultimate consumer of the lots. Other- wise, I'd be glad to answer any questions. MR. POPOVICH: On that point, he indicated he could wait with the development agreement until the assessment hearing. From our point of view, 'assuming we sell bondS in a month or two, if you're going to have a development agreement, we should know that now, because in the bond prospectus that goes out we could then indicate that there would be some $466,000.00 of $648,000.00 that would be paid over a three to five year period because of the terms of the development agreement. That affects whether we go with long term financing or short term financing because obviously, if the people who are going . to bid on the bonds know that so much of it is going to be paid within a certain period of time - that's going to affect your interest rates. So we can't wait until the. assessment hearing next fall. That's something that the Council and the attorney and the developer should get together on before we advertise for bond bids. I just wanted to say that so Curt would know where I come from right now, not next year. . MR. LAUGHINGHOUSE: I didn't realize that. We'd be happy to work that out. 4