For purposes of this chapter the following definitions apply:
"Collection costs" means the expenses and time incurred by the city or its agents to collect any debt due and owing.
"Debt due and owing" or "debt" means a specified sum of money owed to the city for fines, penalties, fees, interest, or other types of charges or costs imposed by this code, or administrative or judicial judgments after: (i) the period granted for payment has expired; (ii) the exhaustion of, or the failure to exhaust, judicial review procedures; or (iii) in the case of tax debt, an assessment has become final under Section 3-4-330 of this code.
"Department" means the department of finance.
(Added Coun. J. 11-19-08, p. 48243, Art. II, § 1; Amend Coun. J. 11-16-11, p. 13798, Art. I, § 1)