1988-032 Medonte By-law Setting the Rate of Interest on Unpaid Taxes up to 1 & 1/4% per month
THE CORPORA nON OF THE TOWNSHIP OF MEDONTE
BY-LAW NUMBER 88-32
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WHEREAS under the provisions of Section 4-12 of the
Municipal Act, being revised statutes of Ontario 1980, Chapter 302 and
amendments thereto, councils are empowered to pass a by-law setting
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the rate of interest on unpaid taxes up to 1 & 1/4% per month;
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, 1989 interest at
the rate of 1 & 1/4-% per month or fraction thereof from the 1 st
day of January 1989 until the taxes are paid.
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THIS BY-LAW shall come into force and take effect on the 1 st day
of January, 1989.
READ a first, second and third time and finally passed this 12th day
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of December, 1988.
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Reeve