HomeMy WebLinkAbout038 - 04/05/1988 - AMENDING CITY CODE RELATING TO PAYMENT OF INTEREST AND PENALTIES ON ASSESSMENTS ORDINANCE NO. 38, 1988
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AMENDING SECTION 22-95(c) OF THE CODE OF
THE CITY OF FORT COLLINS RELATING TO
PAYMENT OF INTEREST AND PENALTIES ON ASSESSMENTS
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that Section
22-95(c) of the Code of the City of Fort Collins is hereby amended to read
as follows:
(c) Failure to pay any installment, whether of principal or
interest, when due shall cause the entire remaining principal
balance and accrued interest to become due and collectible
immediately. The entire remaining principal balance and accrued
interest shall draw penalty interest at the rate of one (1)
percent per month or fraction of a month until the day of sale.
At any time prior to the day of sale, the owner may pay the
amount of all unpaid installments, with interest at one (1)
percent per month or fraction of a month and all penalties
accrued and shall be restored to the right to pay in installments
in the same manner as if default had not occurred. In the event
that the failure to pay any installment when due is attributable
to an act or omission of the city or county which is inconsistent
with the procedures set forth in this Chapter or with the usual
and customary collection practices of the county, the Financial
Officer shall have the discretion to waive or otherwise adjust
the amount of penalty interest due hereunder; provided, however,
that any such waiver shall not restore to the owner any right
which has been waived under the provisions of §22-94.
Introduced, considered favorably on first reading, and ordered
published this 15th day of March, A.D. 1988, and to be presented for final
passage on the 5th day of April , A.D. 1988.
G—�G% y/
Mayor
ATTEST:
City Cle
Passed and adopted on final reading this Sth day of April , A.D. 1988.
Mayor
ATTEST:
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