§ 46-183. Payment of service charge.

The service charge in lieu of taxes as determined hereunder shall be paid in the same manner as general property taxes are payable to the city and subject to the same interest and/or administrative fees for late payment. The taxing authority shall be under no obligation to submit a tax billing or statement to the sponsor. The service charge in lieu of taxes shall be paid in advance, with the estimated payment due and payable by February 14 for the current calendar year. The adjusted final payment shall be paid or the request for refund shall be submitted on or before March 15 of the year following the year upon which the service charge is calculated. The sponsor shall submit with the February 14 payment the calculations used to compute the estimated payment in the format designated by the finance director. The sponsor shall submit with the March 15 payment (request) a statement from an independent auditor verifying that the amounts used to compute the adjusted final payment are correct as reported. All payments and documents shall be received by the office of the finance director on or before the due date.

(Code 1970, § 11½-51)