(A) If a check, draft, order, or like instrument tendered to the city is dishonored or returned unpaid for any reason, the city may charge and collect from the maker or drawer, or the person for whose benefit the instrument was given, an amount not to exceed $20 plus an amount equal to the actual charge by the depository institution for each returned or dishonored instrument. The charge shall not be considered an interest charge, a finance charge, a time price differential or any charge of a similar nature, all pursuant to I.C. 26-1-3.1-502.5
(B) That in the event state law changes the dollar amount that may be charged pursuant to this section shall automatically change without the necessity of passing a subsequent ordinance to reflect changes in state law.
(Prior Code, § 34.03) (Ord. 8-97, passed 8-11-1997)