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REPEALED BY
(71-00;2
BY-LAW'H"'.........
.
THE CORPORt.TIOI1 OF THE
TCYJlT OF nmJCASTLE
By-Law No. 7l:.- 1'1
^ by-law to provide for the fixing of rates
of interest and penal ty char2cc.
~mEREAS the Municipal Act, R.G.O. 1970, Chapter 284 provides for
certain penalty and intercct chargee in excess of those currently being charged;
AND WHEREf.S the Council of the Corporation of the Town of Newcastle
deems it appropriate to charge the ;ilc::dr,mlt1 penalty and interest charges
permissible on t~~ arrears and unpaid insta1mcnto of current tax levies;
NOW THEREFORE the Council of the Corporation of the TOvm of lJewcastle,
pursuant to the provic~ons of Sections 527 (3) and 553 (1) of the Municipal
Act, R.S.O. 1970, Chapter 23~ hereby EIU,CT3 AS FOLLOWS:-
1)
THAT a penalty of 1'1. s;;.:::.l1 be char::;ed on unpaid taxes on the day of
default of any inctalncnt of current taxes, and 1'70 on the first day
of each month thereafter, but not after the end of the year in which
the taxes are levied;
e
2)
THAT inter0.st shall be added on the first day of each month to unpaid I
taxes from the 3J.st day of Deceuoer in the year in which the taxes
were levied until the t~ceG are paid at the rate of 1%.
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3)
THAT all sections of previously passed oy-laws of the Township of
Darlington, the To~~ of Bovnnanvi1le, the Tovmship of Clarke and the
Village of Ne"t'lcaotle, ilhich are contrary to this by-lal>l are hereby
repealed;
4)
This by-law shall come into force and effect upon the day of the
final readins thoreoL
V'
Lf~
By-law Passed this
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CLERK .
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