In all proceedings where a municipal claim is filed as a lien against real property for delinquent accounts which are the subject of this Part, interest equal to 10 percent per annum shall be assessed and accrue on the claim from the date of the completion of the work after it is filed as a lien, and on claims for taxes, garbage collection, water rents or rates, lighting rates or sewer rates, from the date of the filing of the lien therefor; provided, however, that if a municipal claim is filed arising out of a municipal project which required the Borough to issue bonds to finance the project, interest shall accrue and be collectible on such claim at the rate of interest of the bond issue or at the rate of 12 percent per annum, whichever is less. No notice prior to the assessment or imposition of interest as set forth herein shall be required. Such interest shall be added to the municipal claim and collected therewith.
(Ord. 409, 4/10/2006, §IV)