When payment of the charges provided in Section 1060.05 is made within two months after the date of the notice mailed or otherwise delivered to the person or property liable for such charges, a discount of two percent thereof shall be allowed. If such charges are not paid within four months after the date of such notice, a penalty of five percent shall be added. Commencing May 1 of the year following that in which such charge and penalty became payable, interest shall be added to the total amount thereof at the rate of six percent per year until such indebtedness is fully paid.
(Ord. 686. Passed 3-10-69. )