HomeMy WebLinkAboutBy-law 1423/82THE CORPORATION OF THE TOWN OF PICKERING
BY-LAW NO. 1423 /82
Being a By-Law to est~6'liSh a penalty for
non-payment of current taxes
WHEREAS pursuant to the provisions of section 5 of the Municipal
Interest and Discount Rates Act, 1981, S.O. 1981, chapter 26, a muni-
cipality may, by by-law, impose a percentage charge as a penalty for
non-payment of taxes not exceeding one-twelfth of the prime rate
percentage on the day the by-law is passed plus one-eighth of one
per cent, subject to certain conditions; and
WHEREAS the prime rate of interest of the Canadian Imperial Bank of
Commerce, on this 18th day of January, 1982, is 16.5 per cent;
NOW THEREFORE, the Council of the Corporation of the Town of Pickering
HEREBY ENACTS AS FOLLOWS:
As a penalty for the non-payment of taxes, a percentage charge
of 1.5 per cent shall be imposed on the first day of default and
on the first day of each calendar month thereafter in which
default continues, but not after the end of the year in which
the taxes are levied.
(1)
(2)
The Town Treasurer shall give notice of this By-Law in
accordance with section 386(6) of the Municipal Act,
R.S.O. 1980, c. 302.
For the purposes of subsection (1), the Town Treasurer is
hereby authorized to mail the notice or cause it to be
mailed to the address of the residence or place of business
of each person taxed.
The penalty charge imposed by this By-Law for the year 1982
shall take effect on the 1st day of March, 1982.
Section 2210.3 of the Town of Pickering Municipal Code is hereby
repealed and replaced by the provisions of this By-Law.
BY-LAW read a first,
18th day of January,
second and third time and finally passed this
1982.
Clerk