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(a) Before the Department of Permitting Services releases a building permit for all or any part of a building subject to this Article, the applicant must show that all payments due under Section 8-38 have been paid.
(b) When a person applies to a city or town in the County for a building permit for a building or dwelling unit, the applicant must show that all payments due under Section 8-38 with respect to the building or unit have been paid. The Director of Finance must promptly refund any payment made for any building or part of a building for which a building permit is not issued by the city or town.
(c) (1) Any payment due under Section 8-37(c) may be paid in not more than 6 equal annual installments. The first installment must be paid before the building permit for any building subject to the subdivision plan is released, and each succeeding installment must be paid not later than the next December 31.
(2) In addition, the person making the payment must pay interest on the amount of each installment except the first at a rate set each year by the Director of Finance not less than the annual nationwide rate of inflation in construction costs since the first installment was paid. The payer may pay any installment in advance at any time, with interest calculated to the end of the month of payment. (1993 L.M.C., ch. 46, § 1; 1996 L.M.C., ch. 20, § 1;1998 L.M.C., ch. 12, § 1; 2001 L.M.C., ch. 14, § 1; 2002 L.M.C., ch. 16, § 2.)