(A) There shall be a finance charge of 1-1/2% per month imposed on any stormwater utility charge made by the city which is not paid by the due date.
(B) For purposes of computing the finance charge, the due date shall be the date 20 days following the date of the statement. If a statement is paid within 20 days of the date of issuance, no finance charge shall be imposed. If a statement is not so paid, the finance charge authorized by this section shall be imposed and paid.
(C) All stormwater utility statements issued by the city shall include the following notice: A finance charge equal to 1-1/2% per month shall be imposed if payment is not made by the due date.
(Prior Code, § 4-4B-4) (Ord. 492, passed 3-16-1998)