All charges and fees for water service, sanitary sewer service, on-site private sewage disposal systems, and garbage and rubbish collection disposal service as set forth in Chapters 1040 through 1049, inclusive, shall be subject to a late payment penalty fee if said charges and fees are not paid on or before the due date. Said late payment penalty fee shall be assessed at the greater of ten percent (10%) of the amount that is delinquent or the most recent MPI indexed value of twenty-five dollars ($25.00), with said twenty-five dollar ($25.00) amount being adjusted annually as set forth below. Said twenty-five dollar ($25.00) amount, as referenced in the previous sentence, shall be indexed to the Illinois Municipal Leagues' Municipal Price Index (MPI) using 2005 as the base value, and shall be adjusted every June 1st, with any such adjustment being rounded up to the nearest whole dollar amount.
(Ord. 1996-10. Passed 5-28-96; Ord. 2006-48. Passed 12-11-06.)