HomeMy WebLinkAbout79-120
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THE CORPORATION OF THE TOWN OF NEWCASTLE
BY-LAW NO. 79-120
Being a By-Law to provide for the fixing of rates of interest
and penalty charges.
WHEREAS the Municipal Act, R.S.O. 1970, Chapter 284 provides for certain
penalty and interest charges in excess of those currently being charged;
AND WHEREAS the Council of the Corporation of the Town of Newcastle deems
it appropriate to charge the maximum penalty and interest charges permissible
on tax arrears and unpaid instalments of current tax levies;
NOW THEREFORE the Council of the Corporation of the Town of Newcastle, pursuant
to the provisions of Section 527(3) and 553(1) of the Municipal Act, R.S.O.,
1970, Chapter 284, hereby Enacts as follows:-
1.
That a penalty of 1~% shall be charged on unpaid taxes on the day of
default of any instalment of current taxes, and 1~% on the first day
of each month thereafter, but not after the end of the year in which
the~taxes are levied;
2. That interest shall be added on the first day of each month to unpaid
taxes from the 31st day of December in the year in which the taxes were
levied until the taxes are paid at the rate of 1~%;
3. That By-law No. 74-19 is hereby repealed;
4. This By-law shall come into force and effect on the 1st day of
January 1980.
By-law read a first and second time this
5th
day of...~~~~~~~~...........1979
1 d h" 5th d f November 1979
By-law read a third time and final y passe t lS ...... ay 0 ..............
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G.B. Rickard, Mayor
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