Dept./ Agency: Finance Action: (X ) Ratifying (X) Authorizing ( ) Amending Type of Service: To temporarily reduce Interest rates charged on property taxes, delinquent property taxes, City-owned municipal liens and water and sewer charges Purpose: Implement a temporary interest reduction program on property taxes, delinquent property taxes, City-owned municipal liens and water and sewer charges Program Period: March 16, 2020 through June 30, 2020 only 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