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City of Bellingham Municipal Code


Title 14 LOCAL IMPROVEMENTS AND PUBLIC CONTRACTS
Chapter 02 STREET, DRAINAGE, WATER AND SEWER IMPROVEMENTS--ASSESSMENT REIMBURSEMENT CONTRACTS

14.02.120 - INTEREST ON ASSESSMENT

Each assessment established in the Developer Reimbursement Agreement shall bear interest from the date of recording of the Developer Reimbursement Agreement at an interest rate fixed at the Federal Reserve rate for a 2-year Treasury Note, as determined on the date of recording the Development Reimbursement Agreement.

[Ord. 2002-01-001; Ord. 10906 §2, 1997]

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