(A) In the event of failure by any parking lot or garage operator to collect and pay to the village treasurer, the tax required under this chapter within ten (10) days after the same shall be due, a penalty shall be assessed and interest shall become due.
(B) Interest shall accumulate and be due upon said tax and penalty amount at the rate of one percent (1%) per month, commencing as of the first day of the month following the month for which the tax was to have been collected until the tax, penalty, and interest are paid by any parking lot or garage operator who failed to collect and remit the tax imposed by this chapter on a timely basis. (Ord. 04-1162, 7-15-2004; amd. Ord. 08-1277A, 9-29-2008)