Collection charges; interest

Unless otherwise provided for in this Code or other applicable laws, whenever monies are legally due the city and such monies remain unpaid on the specified due date, the city may charge interest for each day of delinquency at the rate of eighteen (18) percent per annum or the maximum allowed by law, whichever is the lesser, for each day of delinquency, and a fee equal to the reasonable administrative costs associated with collecting such monies.

(Ord. No. 89-221, § 2(1-28), 9-28-89)