Assessments are only used for capital improvements including, but not limited to, construction of roads, construction and improvement of permanent structures, clearing and improvement of land, acquisition of land, purchase of shares by the Corporation pursuant to the shareholders' agreement, extraordinary expenses caused by natural disaster, and the repayment of principal and interest borrowed to fund any of the foregoing.

For the purchase of land, no special assessment may be made if the acquisition cost exceeds $120,000, unless, prior thereto, the majority of the members vote to purchase the property.

Calendar year 2003 assessment is expected to be about $2,000.  The remaining debt as of today, Jan 22, is $24,841, with some additional timber revenue expected this spring.  There are no plans to acquire additional land, so new capital expenditures will be minimum. 

That proposed repayment schedule is illustrated via this link and indicates the total note will be retired in 2003.