Show CITY MAY RAISE RATE OF I INTEREST ONI ON OL WARRANTS In an effort to fI find d a means mean meant of PI O protecting protecting pro pro- the value of special improvement improve improve- improvement improvement ment warrants without resorting resorting to the sale of property for tor delinquent instalments instalments ments meats Commissioner Karl A. A Scheid has asked the city attorn attorney attorn Y for tor an anI opinion as to whether or not th the city I c erie can n legally raise the rate of ot interest on delinquent Instalments to 10 per percent percent cent from 8 ner per cent It was intimated today by th the commissioner commissioner com corn missioner that If it the attorney can find finda a legal wa way of doing this tills this scheme will be put into operation instead of the proposed ordinance providing for sale of property sixty days after any instalment of the assessment for tor a public improvement Is permitted to be become become become be- be come delinquent In view of the fact that notices of ot in intention in- in intention for some Improvements are arenow arenow arenow now running Mr 11 Scheid hopes to have havethe havethe havethe the commission decide upon a definite policy as to the handling of ot public improvement warrants next week s so that the property owners affected by bythe bythe bythe the improvements now being advertised advertised adver adver- advertised may have opportunity to protest if they are not satisfied The city attorney has not nt yet had time to look into the scheme proposed by the fina finance commissioner but It is expected that he will render an opinion opinion opinion ion early next week Mr Scheid believes that the increased rate of interest will solve olve the situation situation situa situk- tion by spurring property owners to pay their assessment instalments promptly and thus maIntain the value I of ot public improvement warrants because because be be- cause they would save sava interest by paying paying pay pay- ing the assessments and rowing owing money elsewhere at a low lower r rate of ot Interest interest interest in- in i terest to pay them if necessary |