[HISTORY: Adopted by the Board of Supervisors of the Township of Lehigh 7-12-2011 by Ord. No. 2011-4. Amendments noted where applicable.]
Pursuant to the Municipal Claims and Tax Liens Act, 53 P.S. § 7143, interest on any municipal lien filed by Lehigh Township shall accrue at a rate of 10% per annum and shall be collectible on all municipal claims from the date of the completion of the work after it is filed as a lien, and on claims for taxes, water rents or rates, lighting rates or sewer rates from the date of the filing of the lien thereof.
After April 24, 2006, where municipal claims are filed arising out of a municipal project which requires the municipality to issue bonds to finance the project, interest rates shall be collectible on such claims at the rate of interest of the bond issue or at the rate of 12% per annum, whichever is less.
Where the provisions of any other act relating to claims for taxes, water rents or rates, lighting rates, power rates, sewer rents or rates or for any other type of municipal claim or lien which utilizes the procedures provided for in the Municipal Claims and Tax Liens Act and where the provisions of such other act establishes a different rate of interest for such claims or liens, the maximum rate of interest of 10% per annum as provided for in this section shall be applicable to all claims and liens provided under such other acts.