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For any amount due the city the interest rate established in section 2.022 may be reduced upon findings by the city manager that.

(a) The interest revenue collected exceeds the full cost of managing the amounts due the city including the city’s costs of retiring any debt incurred by the city; and

(b) There will be no significant loss of city general revenues as a result of the reduction; and

(c) All similarly situated obligors of the city will receive a comparable benefit from the reduction.

(Section 2.023 added by Ordinance No. 18616, enacted April 30, 1980.)