City of Spokane

Spokane Municipal Code

***Note: Many local criminal codes can now be located under Chapter 10.60 SMC while others are now cited under the Revised Code of Washington (RCW), which was incorporated into the municipal code in 2022. (See SMC 10.58.010). Code Enforcement, including Noise Control and Animal Regulations are located in Chapters 10.62 through 10.74.

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Title 12
Chapter 12.13
Section 12.13.070
 

Title 12 Public Ways and Property

Chapter 12.13 Road, Street, and Highway Transportation Project Cost Recovery

Article I. Private Project Cost Recovery – Latecomer Agreements

Section 12.13.070 Interest on Latecomer Charge
  1. The latecomer agreement will provide that the beneficiary will receive interest.
  1. If a latecomer pays the charge within thirty days from the date of execution of the agreement, no interest is payable. Otherwise, interest is payable from the date of execution of the agreement to the date of payment of the latecomer charge.
  1. The rate of interest will be the rate payable on 12.00% at the time the City signs the latecomer agreement.
  1. Interest is calculated on the basis of a three-hundred-sixty-five-day year and is not compounded.
  1. Total interest payable may not exceed the principal amount of the latecomer charge.

Date Passed: Monday, March 31, 2025

Effective Date: Saturday, May 10, 2025

ORD C36653 Section 7