1989-026 Medonte By-law setting the rate of interest on upaid taxes up to 1 & 1/4 % per month
THE CORPORATION OF THE TOWNSHIP OF MEDONTE
BY-LAW NUMBER 89-26
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WHEREAS under the provisions 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 up to 1 & 1/4% per
month;
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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, 1990
interest at the rate of 1 & 1/4% per month or fraction thereof
from the 1 st day of January 1990 until the taxes are paid.
THIS BY-LAW shall come into force and take effect on the 1 st
day of January 1990.
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READ a first, second and third time and finally passed this 11 th
day of December, 1989.
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