1987-029 Medonte Whereas under the Provisions of Section 412 of the Municipal Act to set the rate of interest on unpaid taxes to 1 & 1/4% per month
THE CORPORA nON OF THE TOWNSHIP OF MEDONTE
BY-LAW NUMBER 87-29
t
WHEREAS under the provlSlons of Section 412 of the
Municipal Act, being revised statutes of Ontario 1980, Chapter 302 and
amendments thereto, councils are empowered to~pass a by-law setting
the rate of interest on unpaid taxes to 1 & 1/4% per month;
t
AND WHEREAS the Council of the Corporation of the
Township of Medonte deems it expedient to set the interest rate;
NOW THEREFORE the Council of the Corporation of the
Township of Medonte ENACTS AS FOLLOWS:
That the Treasurer be and is hereby authorized and shall add to the
amount of all taxes due and unpaid as at January 1, 1988 interest at
the rate of 1 & 1/4% per month or fraction thereof from the
1 st day of January, 1988 until the taxes are paid.
THIS By-Law shall come into force and take effect on the 1 st day
of January, 1988.
READ a first, second and third time and finally passed this 22nd day
of December, 1987.
~
~
Reeve