Establish that the interest rate to be charged for FY'16 for non-payment of water rents and sewer rents be 18% per annum for real property with an assessed value of over $250,000, or over $250,000 per residential unit for co-ops.

Resolution to establish that the interest rate to be charged for Fiscal Year 2016 for non-payment of water rents and sewer rents be 18 percent per annum for real property with an assessed value of over $250,000, or over $250,000 per residential unit for cooperative apartments