1. An interest rate of 1.5% per month, or 18% per annum, shall be imposed on all unpaid balances of any account not paid within 30 days of the billing date; interest for the first 30 days shall be accrued and payable on the 31st day after the billing date.
2. If the 30th day, above described, falls on a Friday, Saturday, Sunday or national holiday, then in that case, in order to be considered paid within the 30 day period, a payment must be made as follows:
A. If the 30th day falls on a Friday, then the payment must be made by 2 p.m. on said Friday.
B. If the 30th day falls on a Saturday, Sunday, or on a Saturday, Sunday, or Monday national holiday, then the payment must be made by 2 p.m. on the Friday preceding such Saturday, Sunday, or Monday.
C. If the 30th day falls on a national holiday which does not fall on a Saturday, Sunday, or Monday, then in that case, the payment must be made by 2 p.m. on the day immediately preceding such holiday.
(Ord. 398, 6/11/1987, §16; as amended by Ord. 448, 11/1/1993, §2)