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4 As far as the storm sewer in connection with this, there are fifty-five lots and, of course, that same one taxable exempt lot, and the policy has been to assess those at $295. Now, the total cost of the entire project for the roadway part of it is $119,437 if it's a 36-foot road without a sidewalk. The storm sewer total is $79,312 and actually for the street portion there would be no assessment, and for the storm sewer assessment it would be $295 per lot based on the 55 lots. This is the feaSbility hearing at which time the Council makes a determination as to whether or not the project should go ahead. I think basically the exact dollar amount of the entire project is determined by the construction costs - the construction bids that come in. However, it has been the policy to stick to that $295 for storm sewer and $590 for a tax exempt lot. The storm sewer, whether you put the sidewalk in or not, if it's 36-feet wide would remain as far as the taxable portion to a home owner on the buildable lots will still be zero as far as the highway and the same amount on the storm sewer. If you went to a larger 44-foot, the only thing that changes particularly is the storm sewer which ends up to a few more dollars in the total construction cost. However, the assessment would still be $295. At a later date, after the project is in, there would be an assessment hearing to determine as to the benefit received on each one of these particular 56 lots that are included in the entire project. This would be payable over a 20-year period which has been the policy of the City Council, and the first amount would not appear on the taxes until 1980, and within 30 days after the hearing on the assessment roll you could prepay this and there would be no interest charge whatsoever. The amount of interest on the deferred balance over the 20-year period is determined by the City Council and usually reflects some cost relative to the amount that we have to pay to finance the project. I will be glad to answer any questions, or whatever your procedure is. MAYOR DEMOS: I think we will see if there are any written statements. MR. ANDRE: There are no written statements received by the office. MAYOR DEMOS: At this point we will open the hearing to the public. We ask that you come to the microphone, state your name and address and your position pro or con and perhaps you'd care to express which alternative you favor, if you are in favor.