§ 1161.07. Return of interest upon refund.

Latest version.

In making refunds to any depositor, the Division of Power is authorized and directed to refund the principal amount plus interest at the rate of four (4) percent per annum, calculated on a calendar month basis (fractions of a calendar month to be disregarded), less any outstanding charges against the account.

(Ord. 1950-75: Ord. 422-06 § 2 (part); Ord. No. 2398-2012, § 12, 12-3-2012)

                    
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