Section 5-4-1. Interest Imposed. Unless otherwise specifically provided in this Municipal Code, the balance of any monies owed to the City by any natural person, corporation, partnership, limited partnership, or joint venture, which is not paid within thirty (30) days from the billing date indicated on a City invoice, shall accrue interest at the rate of eighteen percent (18%), compounded annually, until the balance thereon is paid in full.

[Source: Ord. 1119, 1995]