Establish that the interest rate to be charged for FY'11 for non-payment of water rents and sewer rents be 18% per annum for real property where the assessed value is over $250,000, or over $250,000 per residential unit for cooperative apartments.

Resolution to establish that the interest rate to be charged for Fiscal Year 2011 for non-payment of water rents and sewer rents be 18% per annum for real property where the assessed value is over $250,000, or over $250,000 per residential unit for cooperative apartments.