Ordinance 1986-70 (02)
ORDINANCE NO. 86-;70
AN ORDINANCE OF THE CITY OF WYLIE, A HOME RULE POLITICAL
SUBDIVISION OF THE STATE OF TEXAS, AMENDING ORDINANCE NO.
84-12, THE FEE SCHEDULE FOR THE CITY OF WYLIE, SPECIFICALLY
AMENDING SECTION 5 PERTAINING TO RECONSTRUCTION OF EXISTING
STREETS IN THE CITY.
WHEREAS, the City Council of the City of Wylie has
determined a need for Ordinance No. 84-12 to be amended;
THEREFORE, Section 5, paragraph 3 will be amended to read as
follows:
SECTION 5 - RECONSTRUCTION OF STREETS
3. Financing costs for repayment by adjacent property
owners of their portion of the materials for
project done under provisions of the street
reconstruction ordinance, the following interest
rates shall apply and shall be calculated on a
simple interest basis and billed on the monthly
water bill. Said payment shall be subject to the
normal provisions for late charge penalties etc.
a. 90 day payout.................no interest
b. One Year (12 month) payout....10% interest
c. Two Year (24 month) payout....10% interest
d. Three Year (36 month) payout..10% interest
SEVERABILITY:
All ordinances or parts of the ordinance in conflict
herewith are specifically repealed and are superceded
by this ordinance. All other parts of such ordinances
are not repealed and remain in effect.
EFFECTIVE DATE:
This ordinance shall become effective immediately upon
passage and approval by the City Council of the City of
Wylie.
PASSED AND APPROVED ON THIS THE i~DAY OF tJ (L1L,(,...-'
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1986.
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Don
ATTEST:
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Secretary