§ 9485 Drainage Bond Payment Assessment

• •If a drainage district sells bonds (like borrowing money), they have to figure out how much money they need to collect every year to pay back the bonds.
• •They do this by calculating the total amount needed to pay the principal (the original amount borrowed) and interest (the extra money charged for borrowing) for the next two payment dates.
• •This calculation must be done every year and written down in their official records.

Imagine a small town needs to build better drains to stop flooding. They borrow money by selling bonds to pay for it.

Every year, the town leaders must calculate how much money they need to collect from the townspeople to pay back the borrowed money plus interest for the next two payment dates. They write this amount down in their official notes.