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MR. POPOVICH: Mayor and members of the Council. Limit- ting ourselves to the 12 acres and the 55, the total cost is $205,469 and when the legal notice was published that was the area included and this public hearing was called on that basis and notices were sent to the affected property owners. Assum- ing that you were to put in that original project, then obviously at least 20% would have to be assessed, and assuming they would stay within the $205,000, 20% is $41,093, or just a little over $41,000. On the basis of your present assessment formula which is $25 for a buildable lot, $500 for unbuildable MAYOR LINEBARGER: You mean $250? MR. POPOVICH: I'm sorry. That all together within the 12 acres and 55 acres raises $49,064 so you have an $8,000 spread. The balance of $145,000 of the $205,000 would be picked up by ganeral taxes and spread by a millage throughout the whole city that the other people would help take care of. Obviously this started by petition and within this framework, financially speaking, this can be done, and it would be our proposal that if you did go ahead we'd spread the cost over 20 years with an 8% carrying charge with the right of prepayment as is customary. If you are to drastically change the improvement we run into two problems. One is that the bond attorneys will not approve issues if we run more than 25% over the projected cost published in the legal notice at the time we call the hearing. That's a rule of thumb. There's been no litigation challenging it, but once the bonds are issued you have to give a legal opinion with them and this is a rule of thumb - don't let your costs get over 25% of the original cost so if you took 25% of $205,000, you're talking maximum of $260,000 to $275,000. Over that we're definitely get- ting into a gray area, plus you run into a situation that when the cost goes up then you have to take 20% of that to pick up the minimum of 20% and the rest goes on general taxes. If you want to take care of the 262 acres and the other portions that were related to it, it would mean revising the improvement and giving notice to all of the other people in the 262 acres - some that theoretically might be getting some benefit. That's a factual question as to whether those who have already paid a sewer assess- ment where there is a 60 inch pipe going into Lake Josephine where you now want to transfer out to another type of approach of outlet modification would be getting a benefit. Even if they 10