HomeMy WebLinkAboutKIN 79 4246 rate of interest
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THE CORPORA~ION OF ¡HE ¡OWN OF KINCARDINt
BY-LAW NO. 1.246
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¡ŸHEREAS I¡ IS PROVIDED by Section 527 of t~e Municipal
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Act as amended· t.hat. the Council by By-law may ilp.crease the rate
of interest to a rate not exceeding one and one+quarter per
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cent per month on arrears of taxes. I
THEREFORE ¡HE COUNCIL OF ¡HE CORPORA~ION ot ¡HE ~OWN
OF KINCARDINE ENAC¡S AS FOLLOWS:
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1. ~he ra~e of interest on all taxes in arrears after
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December 31st in the year
is hereby increased to one
month and the Treasurer is
to all taxes in arrears as
,
in which such taxes o/ere
and one-quarter per tent
hereby au~horized to I add
aforesaid.
levied
per
said interest
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2. The ra~e of interest for non-payment of current taxes
or any class or instalment thereof is hereby in~reased to
fifteen (15) per cent per annum from the date Ptyment is due
until it is made or until the 31st day of Decem er of the
year taxes were levied.
3.
Tha~ By-law 2107 be and the same is
This By-law ~o be effective January
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heteby repealed.
1,119$0.
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4.
READ a FIRST, SECOND and ¡HIRD ~ime and FINALLYiPASSED
this 18th day of October , 1979.
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