s. 168 (4) A person who is liable to pay a special rate or S. 167(4) special charge must pay the special rate or special substituted by No. 67/2008 charge— s. 59(2). (a) as a lump sum; or (b) if the Council has provided an instalment plan and the person has elected to pay the special rate or special charge in accordance with the instalment plan, in accordance with the instalment plan. S. 167(5) (5) If the performance of the function or the exercise repealed by of the power in respect of which a special rate or No. 22/1992 special charge is to be levied relates substantially s. 15(c), new s. 167(5) to capital works, the Council must provide an inserted by instalment plan in accordance with subsection (6). No. 67/2008 s. 59(2). (6) An instalment plan— S. 167(6) inserted by No. 67/2008 (a) must provide for instalments to be paid over s. 59(2). a period of at least 4 years; (b) may include in the amount of an instalment a component for reasonable interest costs the total of which must not exceed the estimated borrowing costs of the Council in respect of the performance of the function or the exercise of the power in respect of which the special rate or special charge is to be levied by more than 1%. 168 Incentives for prompt payment (1) At the meeting at which a Council declares any rates or charges, the Council may declare that incentives are to be given by it for the payment of those rates and charges before the due date and must include in the declaration details of the circumstances in which an incentive will be given. (2) A notice requiring payment of a rate or charge must specify any incentives.
S. 167(4) substituted by No. 67/2008 s. 59(2). (4) A person who is liable to pay a special rate or special charge must pay the special rate or special charge— (a) as a lump sum; or (b) if the Council has provided an instalment plan and the person has elected to pay the special rate or special charge in accordance with the instalment plan, in accordance with the instalment plan. S. 167(5) repealed by No. 22/1992 s. 15(c), new s. 167(5) inserted by No. 67/2008 s. 59(2). (5) If the performance of the function or the exercise of the power in respect of which a special rate or special charge is to be levied relates substantially to capital works, the Council must provide an instalment plan in accordance with subsection (6). S. 167(6) inserted by No. 67/2008 s. 59(2). (6) An instalment plan— (a) must provide for instalments to be paid over a period of at least 4 years; (b) may include in the amount of an instalment a component for reasonable interest costs the total of which must not exceed the estimated borrowing costs of the Council in respect of the performance of the function or the exercise of the power in respect of which the special rate or special charge is to be levied by more than 1%. 168 Incentives for prompt payment s. 168 (1) At the meeting at which a Council declares any rates or charges, the Council may declare that incentives are to be given by it for the payment of those rates and charges before the due date and must include in the declaration details of the circumstances in which an incentive will be given. (2) A notice requiring payment of a rate or charge must specify any incentives.
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