THE CORPORATION. OF THE CULY OF PORT COQUTTLAM

BY-LAW NO.- 1494

A By-law to establish the rate of interest applicable ‘to taxes ia
arrear and delinquent taxes.

The Municipal Council of The Corporation of the City of Port
Coquitlam, in open meeting assembled, enacts as follows:
1. The taxes and rates on land or improvements or both land and
improvements, together with percentage additions, which are unpaid on the
thirty-first day of December in the year imposed are deemed to be taxes in
arrear, and bear interest ‘from said date at the rate of eleven per centum
per annum; such interest is deemed to be part of the said taxes in arrear,
and the total amount of said taxes in arrear is a charge upon the pareel of
land or improvements or both land and improvements in all respects as if the

said percentage additions and interest had originally formed part of the

taxes and rates assessed thereon.

2. All taxes on land or improvements or both land and improvements

remaining unpaid on ‘the thirty-first day of December in the year next
following that in which the taxes are imposed are delinquent on and after
the said thirty-first day of December, and thereafter bear interest at the

rate of eleven per centum per annum until paid or recovered; such added

interest is deemed to be part of the said delinquent taxes and a charge

upon the parcel of land or improvements or both Land and improvements in

all respects as if the said interest had originally formed part of the
taxes assessed thercon.
3. This By-law may be cited for all purposes as the “Arrears and

Delinquent Taxes Interest Rate Fstablishment By-Law, 1976, No. 1494".