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paid on or ~efore the time the same is due and payable ~ as provided in <br />t~is article, the~e sb~ll be added thereto a penal~y of five pe~ cent <br />of the ~mount of such unpaid installment, and such installment shall <br />bear interest at the rate of one per cent per month, or fraction there- <br />of, from the first day of the month followirg the date the same is due <br />and payable until paid. <br /> <br /> Should any installment of taxes on real estate be not paid <br />before the proper~y is advertised or posted as dellnquent, an expense <br />charge of twenty-five cents for each installment on each ps--cci assess- <br />ed shall be collected. <br /> <br />Section 10~62. ~nen city taxes on personal property and mchinery <br /> payable; interest on such tax~s. <br /> <br /> (a) City taxes on personal property and machinery arJ tools <br />shall be paid on or before the tb_irtieth day 'of June of the year in <br />which such taxes are assessed arJ shall bear interest at the rate of <br />one per cent per month or fraction thereof from the first day of the <br />month follo~%ng the date the s~me is due and payable until paid. <br /> <br /> (b) City taxes on personal property and ~.chinery and tools <br />of public service companies which .are. assessed by the State Corporation <br />Commission shall be paid o~ or before the fifth day of December of the <br />year in ~hich such taxes are assessed and shall bes~r interest at the <br />rate of one per cent per month or fraction thereof from the first d~¢ <br />of the month following the date the same is due s_nd payable t~il paid. <br /> <br /> 2. An emergency exists, and this ordins~ce sP~ll take effect <br />on July 1, 1970. <br /> <br /> Adopted by the Council of the C~ty oz Porssmouth, Virgmrma, <br />at a meetLug held June 23, 1970. <br /> <br />Tes ~e. <br /> <br />City Clerk <br /> <br /> <br />