Dept./ Agency: Finance Action: (X) Ratifying (X) Authorizing ( ) Amending Type of Service: Temporarily Reduction on Interest Rates due to COVID-19 Public Health Crisis Purpose: To implement a temporary interest reduction program on property taxes, delinquent property taxes, City-owned municipal liens and water and sewer charges. Program Period: October 7, 2020 through December 31, 2020 Additional Information: Current Rate Proposed Rate 8% on first $1,500.00 delinquency 0% on first $1,500.00 delinquency 18% on remaining balance 0% on remaining balance