Water and Sewer Rents, Nonpayment Interest Rates

Communication from the New York City Banking Commission - Transmitting recommendation that the interest rate to be charged for non-payment of water rents and sewer rents be eighteen percent (18%) where the annual tax on parcel is more than $2,750 or where taxes are held in escrow or where parcel consists of vacant or unimproved land and nine percent (9%) in all other cases.