981. Taxes bear interest at the rate of 5% per annum from he expiration of the delay provided in article 1013. Neither the council nor any municipal officer can remit such interest.
The council, as often as it considers it expedient, may, by resolution, prescribe a rate of interest different from the rate provided in the first paragraph. The rate also applies to all unpaid debts before the passing of the resolution. The resolution of the council shall remain in force until it is repealed.
The tax account shall indicate clearly the rate of interest in force at the time of its sending.
When the council has passed a resolution allowing a discount, under article 1007, the interest shall run only from the expiration of the term fixed for benefitting from such discount.
M.C. 1916, a. 687; 1937, c. 59, s. 2; 1950, c. 74, s. 9; 1968, c. 85, s. 2; 1968, c. 86, s. 39; 1975, c. 82, s. 30; 1982, c. 63, s. 58; 1985, c. 27, s. 65.