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<br />CITY OF NORTH OLMSTED <br />ORDINANCE N0. 78-J?l <br />BY : Mr. Wilamoskv <br />AN ORDINANCE AMENDING SECTION 1501.1501 <br />OF THE CODIFIED ORDINANCES OF THE CITY <br />OF NORTH OLMSTED ENTITLED "INTEREST ON <br />UNPAID TAX"OF PART FIFTEEN OF THE TAXATION <br />CODE. <br />WHEREAS, the present rate of interest on unpaid municipal <br />income tax is six percent (6%), and <br />WHEREAS, it is the desire of this Council to increase the <br />interest rate of unpaid tax to ten percent (100). <br />BE IT ORDAINED BY THE COUNCIL OF THE CITY OF NORTH OLMSTED, <br />COUNTY OF CUYAHOGA AND STATE OF OHIO: <br />SECTION 1: That Section 1501.1501 of the Codified Ordinances <br />entitle "Interest on Unpaid Tax" of Part Fifteen of the Taxation <br />Code, which now reads as follows: <br />"1501.1501 INTEREST ON UNPAID TAX. <br />All taxes imposed and all moneys withheld or <br />rec{uired to be withheld by employers and all <br />installments of estimated taxes required to be <br />paid under the provisions of this Title, Part 15, <br />Taxation Code of the City and remaining unpaid <br />after they become due, shall bear interest at the <br />rate of six percent per annum." <br />shall be amended and as amended shall read as follows: <br />"1501.1501 INTEREST ON UNPAID TAX. <br />Al1 taxes imposed and all moneys withheld or <br />reauired to be withheld by employers and all <br />installments of estimated taxes required to be <br />paid under the provisions of this Tit1e, Part 15, <br />Taxation Code of the City and remaining unpaid <br />after they become due, shall bear interest at the <br />rate of ten percent per annum." <br />SECTTON 2: That Section 1501.1501 as previously adopted is <br />hereby repealed and any other ordinances or parts of ordinances <br />in conflict herewith are hereby repealed. <br />SECTTON 3: That this Ordinance shall take ef£ect and be <br />in force from and after the earliest period allowed by law. <br />PASSED: 1978 <br />ATTEST: <br />NORA T. HILL, CLERK OF COUNCIL DE EY MP T, PR SI NT <br />C NC L <br />APPROVED 1978 <br />. ? t?.J t.?.t,?-?_ • S 1?-?- <br />OBERT W. SWIETYNIOWSK , M YOR <br />First Reading: 4-18-78 - Referred to Finance Committee <br />Second REading: <br />Third REading: ? ? ?-7g