§ 44-5-8 - Form of option for quarterly payment. - Rhode Island Statutes

SECTION 44-5-8

   § 44-5-8  Form of option for quarterlypayment. – The option shall be expressed in substantially the following form:

   "The tax may be paid in ]]]] installments, the firstinstallment of ]]]] percent on or before the ]]]] day of ]]]] A.D. 20]]]] :(proportions and dates to be specified.)"

   "Each installment of taxes if paid on or before the last dayof each installment period successively and in order is free from any chargefor interest."

   "If the first installment or any succeeding installment oftaxes is not paid by the last date of the respective installment period orperiods as they occur then the whole tax or remaining unpaid balance of the taxas the case may be immediately becomes due and payable and carries untilcollected a penalty at the rate of ]]]] percent (not less than six (6) nor morethan eighteen (18) or, in the case of the city of Cranston, not more thantwelve (12) per annum); provided, that taxes payable to the city of Newport,the town of Middletown, the town of Hopkinton, the town of West Greenwich, thetown of East Greenwich, the town of North Kingstown, the town of New Shoreham,the town of Glocester, and the town of Tiverton shall bear interest on anyunpaid quarterly payments, and that only the unpaid quarterly payments are dueand payable to the city of Newport, the town of Middletown, the town ofHopkinton, the town of West Greenwich, the town of East Greenwich, the town ofNorth Kingstown, the town of New Shoreham, the town of Glocester, and the townof Tiverton notwithstanding the provisions of this section to the contrary."