BYLAW - Charge Interest on Tax Arrears - 19710301 - 188170THE CORPORATION OF THE TOWN OF AURORA.
BY-LAW NO. 1881-70
A By-Law to charge interest on Arrears of Taxes in the Town of Aurora.
tfrrEREAS by provision of the Municipal Amendment Act, 1968-69
(No. 2) a Municipal Council may pass a By-Law to fix the rates of
interest on tax arrears, not to exceed one per cent (1%) per month,
AND t{ITEREAS the Council deems it desirable to increase the
present rate of interest charged on tax arrears to a sum more
in keeping with current bank rates.
NOW THEREFORE the Municipal Council enacts as follows:
1'. The Treasurer of the Town of Aurora shall hereby charge an
amount of one (1%) per cent per month on all tax arrears for
each month or fraction thereof from the 31st day of December
in the year in which taxes were levied until the taxes are paid.
2. Such interest or percentage added to taxes shall not be
compounded.
3. This By-Law will supersede any and all previous By-Laws
which refer to interest on tax arrears.
4. This By-Law shall come into effect and be considered in
force effective on and from January lst, 1971 and, from time
to time, until amended or repealed.
READ A FIRST AND SECOND TIME THIS 6th DAY OF APRIL, 1970
READ A THIRD TIME AND FINALLY PASSED THIS ~AY OF ~; I? ?1.