HomeMy WebLinkAbout1986-04-14 86-161 ORDERe6-161
Introduced by Councilor accarthy, April 14, 1986
_p, CITY OF BANGOR
(TITLE.)VIJL�2If . -_-_- Establrahrrq_In[eres[ Fa[e fg5 wareaymant_o[ Tares
By the City cashed of lr? City of Bauder.
ORDERED,
TMT the City Treasurer, in arcuadance with 36 M.R.S.A. 5 506-A, shall
pay interest at an annual rate of eight (88) percent on all refunds for
were yments of tares assessed as of April 1, 1986, aW each and every year
thereafter until this Order is revoked by action of the City Council.
Statement of Fact: Effective Peril 1, 1986, the State legislature now
regains under 36 M.R.S.A. S 506-A that municipalities pay interest at a
minimus annual rate of 88 on all refunds for tares which ars Overpaid by the
tarpayer. Palment of interest will normally arise only in situation whom a
tar has been assessed, the charges paid, and later an abatement is granted.
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IN CITY cuJ l�I Ry C. Title,.
April 14, 1986 OF ,6, -
Pasae3 CITY
¢s[ablisMn9 .I.n.t.e.resi Rate .f.o.i .Oveyment
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