HomeMy WebLinkAbout70-7THE CORPORATION OF THE
TOWN OF BOWMANVILLE
By -Law No. 70-
A by -law to provide for the fixing of rates
of interest and penalty charges.
WHEREAS the Municipal Act, R.S.O., 1960, Chapter 249 was revised
on December 8th, 1969 by legislation under Bill 222;
AND WHEREAS the said Bill 222 now 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
Bowmanville 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
Bowmanville, persuant to the provisions of sections 548 (3) and 574 (1)
of the Municipal Act, R.S.O. 1960, Chapter 249 as amended by The Municipal
Amendment Act, 1969, 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 ter the end of the year in which
of each month thereafter, but not
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 all sections of previously passed'by -laws which are contrary to
this by -law are hereby repealed;
4) This by -law shall come into force and effect upon the day of the
final reading thereof.
q 1970.
By -Law Passed This 1n Day of p
Mayor
GClerk- administrator
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