[Adopted 1-31-2001 by Ord. No. 1116 (Ch.
236, Art. IX, of the 1999 Code)]
1.
Interest at the
rate of 10% per annum shall be collectible:
A.
Except as provided in Subsection 2, on all municipal claims by the Borough of Homestead from the date of the completion of the work after the municipal claim is filed as a lien; and
B.
On all claims
for taxes, water rents or rates, lighting rates or sewer rates by
the Borough of Homestead from the date of the filing of the lien therefor.
2.
Interest at the
rate of interest of the bond issue or 12% per annum, whichever is
less, shall be collectible on municipal claims by the Borough of Homestead
arising out of municipal projects which require the Borough of Homestead
to issue bonds to finance the project.
