Title 12 Public Ways and Property
Chapter 12.13 Road, Street, and Highway Transportation Project Cost Recovery
Article II. Assessment Reimbursement Areas
Section 12.13.250 Interest on Assessment Charges
If the assessment reimbursement charge is paid within 30 days from the date the ordinance confirming the assessment reimbursement goes into effect, no interest is payable. Otherwise, interest is payable from the date the ordinance confirming the assessment goes into effect. Interest is calculated on the basis of a 360-day year and is not compounded. Total interest payable may not exceed the principal amount of the assessment reimbursement charge.
Date Passed: Monday, March 31, 2025
Effective Date: Saturday, May 10, 2025
ORD C36653 Section 17
