Interest rate to be charged for FY'04 for non-payment of taxes on real property.

Resolution to establish that the interest rate to be charged for non-payment of taxes on real property where the annual tax on the parcel, other than a parcel that consists of vacant or unimproved land, is not more than $2,750, be 18% per annum for Fiscal Year 2003 in the case of any such parcel where the real property taxes are held in escrow and paid to the Commissioner of Finance by a mortgage escrow agent; and 9% per annum in the case of all other such parcels.