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RESOLUTION NO. 89-32
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF UKIAH
ESTABLISHING INTEREST RATE ON PAST DUE DEBTS OWED TO THE CITY
WHEREAS, Ukiah City Code Section 2050 authorizes the City Council to
establish by resolution an interest rate on unpaid bills from the City
that have remained wholly or partially unpaid for more than thirty (30)
days; and
WHEREAS, the City Council has determined a reasonable interest rate
to charge on such past due accounts;
NOW, THEREFORE, BE IT RESOLVED that:
1. The City shall charge simple annual interest equal to the prime
lending rate, as established on the effective date of this resolution and
on June 30, 1989, and on June 30 of each year thereafter, plus two percent
(2%) on any payments due the City which remain unpaid, in whole or in
part, for more than thirty (30) days after the billing date or payment
date under any contract, agreement, or lease.
2. As provided in Ukiah City Code Section 2050, this rate shall
apply to all such unpaid bills unless a different rate is established by
other Ukiah City Code section, State or Federal statute, or specific
agreement approved by the City Council.
3. This resolution shall become effective on April 15, 1989.
PASSED AND ADOPTED on the 15th day of March, 1989, by the following
roll call vote:
AYES: Councilmembers Wattenburger, Shoemaker, Schneiter, Hickey and
Mayor Henderson
NOES: None
ABSENT: None
ATTEST~ z/
Mayo~ - -