This article is enacted by the Borough pursuant to the authority
granted by Section 10 of the Act of May 10, 1945 (P.L. 1050, No. 394)
(known as the "Local Tax Collection Law"), as amended by Act 126 of
1978, and shall be known as the "Discount and Penalty Rate Ordinance."
Any applicable provisions of the Local Tax Collection Law, the
Borough Code and the Local Tax Enabling Act are incorporated herein
by reference. Where options are provided by such statutes, this article
designates the option selected, except that the Borough reserves the
right to change the option(s) regarding penalties by action duly taken
by its Council by regulation, resolution or ordinance, as the case
may require.