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MAYOR LINEBARGER: If you would. ( MR. HONCHELL: The primary problem at this location is that there is a steep grade coming down Marion and this water then all goes out at a single point just behind the property at 2234 which has caused water standing in the back yard at this location and also had water entering the home. This 'is the most critical portion of the proposed work. In addition to this, it is desirable to have the water picked up off the roadways to a series of catch basins which aid in keeping the streets in good condition and reduce the amount of maintenance costs that are necessary over the years. That's the primary reason. ~ MAYOR LINEBARGER: I will ask our fiscal agent, Mr. Popovich, to present a summary of the financing. MR. POPOVICH: As the engineer indicated, the total cost is $22,422 and applying the assessment formula, that commences at $250 a buildable lot, unbuildable is $500; buildable acreage is $800 and unbuildable acreage $1600. Using that formula, we find there are 19 lots in the area and one and a half acres. Multiply 19 lots by $250 and you raise $4,750; and one and a half acres at $800 so you have a total of $5,950 raised by assess- ments. That's less than thirty percent- about twenty-five percent of the project. It can't get much lower - and the rest of the total improvement would be paid by general taxes spread over a 20 year period and we would propose recommending at the assessment hearing that there be an ~/o carrying charge on the assessments for those that did not pay in cash to save the assessment carrying charge. MAYOR LINEBARGER: I will now open the meeting to the public to anyone in the audience who either wants to ask a question or state his position as to whether he's in favor of or in opposition to this proposed improvement. Before calling for people in the audience, I will ask our Manager, do you have any letters or communications? MR. ANDRE: We have none. MAYOR LINEBARGER: I would ask that anyone who speaks give his name, address and the address of the property he's referring to if it's different than his own. MR. RAY McDONALD, 2241 Marion: The question is, do I make the assumption that the $250 is the same whether it be a corner lot or a standard lot? ( 2