We are involved in an internal discussion re the interest rates we must pay
when refunding a customer's over payment on property taxes. We know it's 10%
on legal claims. And, we know it is the average of the past quarters'
investment earnings of our institution for deposits. Does anyone know if the
amount for over payments is specified? Our legal department wants to tie it
to Code Civ. Proc. �685.010(a), which relates to legal claims. Your
responses would be appreciated ASAP. Thanks.
Frances David
Director of Finance
City of Berkeley
2081 Center Street
Berkeley CA 94704
510.665.7401
[EMAIL PROTECTED] us
