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2003 SESSION

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HB 1974 Installment payment of assessments for local improvements; interest.

Introduced by: Clifford L. Athey, Jr. | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Installment payment of assessments for local improvements; interest. Clarifies that such interest rate shall not exceed the index of average yield on U.S. Treasury securities adjusted to a constant maturity of 1 year.

SUMMARY AS PASSED HOUSE:

Installment payment of assessments for local improvements; interest. Clarifies that such interest rate shall not exceed the index of average yield on U.S. Treasury securities adjusted to a constant maturity of one year.

SUMMARY AS INTRODUCED:

Installment payment of assessments for local improvements; interest. Provides that the rate of interest on such payments shall not exceed the rate of 3-month United States Treasury Bills at the time the assessment ordinance was adopted, rather than 1-year United States Treasury Bills.