Real Estate Taxes, Nonpayment Interest

Resolution to establish that the interest rates 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, isn ot more than $2,750, be 18% per annum for Fiscal Year 1999 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 mortgae escrow agent; and 9% annum in the case of all other parcels.