SID Interest Rate is 5% & Objections

Post date: Aug 13, 2009 9:54:43 PM

The SID Board approved a 5% per year on the unpaid balance interest rate yesterday at their monthly meeting; upon the advise of their legal counsel and fiscal agent. This would make

the delinquent rate 7% in accordance with state statutes for future payments made after the annual due date of August 12th.

This first year, once the official bill is received from the County Treasurer, later this month; any payment amount paid before October 1st will not bear interest. Everyone will automatically be setup on the 15 year payment plan; however it may be paid in full before October 1st and all interest charges will be avoided. Future annual payments will be

due before August 12th each year; and delinquent if paid after the 12th.

Those filing objections will be notified of the actions taken by the Board from the SID's attorney within the next several days.