Washington Code 36.89.092 – Stormwater control facilities — Alternative interest rate on delinquent charges
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Any county may provide, by resolution or ordinance, that delinquent stormwater service charges bear interest at a rate of twelve percent per annum, computed on a monthly basis, in lieu of the interest rate provided for in RCW 35.67.200.
[ 1987 c 241 § 2.]
Terms Used In Washington Code 36.89.092
- county: as used in this chapter shall mean any county of the state of Washington. See Washington Code 36.89.010
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC