§ 8.10. Collection Fees and Interest.

The City taxes provided for by this Charter shall be assessed, levied and billed prior to July 1 in each year, shall become payable on that date, and shall be collected on or before July 31 in each year, and if so paid no interest or penalty fees shall be charged. As of August 1 in each year a collection fee as per statute shall be charged, and when paid said charges shall be placed in the general fund of the City. Additional fees corresponding to State law may be imposed by the Council for delinquent taxes after January 1 next following. The City Council may, by ordinance, establish a system for the installment collection or said taxes extending not more than one year and provide for the collection of reasonable interest or collection fees thereon and of penalties for the late payment of installments.