(A) The city shall have a lien for taxes on the property assessed for taxes to the extent allowed under KRS 134.420.
(B) All taxes due in accordance with these sections which are not paid before June 30, 1997, for the 1996 tax year, or which are not paid before January 31 for all subsequent years, shall be deemed delinquent and shall be subject to a penalty of ten percent (10%) and shall bear interest at the rate of six percent (6%) per annum.
(C) All moneys collected pursuant to these sections shall be paid into the general fund of the city to be used for the payment of proper expenditures as determined by the city council in the annual budget ordinance.
(Ord. 96-1082, passed 9-12-96)