Spokane Municipal Code

Title 13 Public Utilities and Services

Chapter 13.03 Sewers

Article VII. Special Connection Charges

Section 13.03.0710 Project Accrued Interest

1. In addition to interest charges allowable under payment by installment contract, the amount of the special connection charge includes the project accrued interest on the construction costs, computed from the date of construction of the sewer system until the date of connection, except that the computation period shall not exceed ten years.

2. The project accrued interest is set by the City treasurer at a rate commensurate with the interest rate of the local improvement district bond issue most recent to the date of city council approval of the project for special connection charges, or as otherwise determined pursuant to RCW 35.92.025, except the:

1. 1. interest may not exceed ten percent, and

1. 2. aggregate amount of interest charge to a property may not exceed the share of the cost of the system allocated to that property.

Date Passed: Monday, October 15, 2007

Effective Date: Wednesday, November 28, 2007

Recodification ORD C34122 Section 1