Ord 1766 - AMENDING SECTION 24.60.010 OF CHAPTER 24 OF THE TOWN CODE TO DECREASE THE REGULATORY FEE

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ORDINANCE NO. 1766 AN ORDINANCE OF THE TOWN OF LOS GATOS AMENDING SECTION 24.60.010 OF CHAPTER 24 OF THE TOWN CODE TO DECREASE THE REGULATORY FEE SECTION 1 Section 24.60.010 of Chapter 24 of the Town Code is hereby amended to read as follows: Sec. 24.60.010 Regulatory fee I' - For the sole purpose of reimbursing the Town for the costs of administering this ordinance there is hereby imposed on each rental unit, subject to the provisions of this Chapter, a regulatory fee of $18.00 per year which shall be paid annually at the time at which the landlord's business license fee is due. A landlord who fails to pay the fee within 30 days after the Town mails its bill (or 30 days after adoption of this ordinance as to bills sent prior thereto) shall (1) pay a 25% penalty, plus an additional 25% for every additional 30 days, and shall also not be entitled to any rent increase until the full fee and penalties are paid. The Town Manager shall report to the Council in time for budget hearings each year his or her recommendation as to the amount of such fee necessary to recover such costs. SECTION 2 This ordinance takes effect 30 days after it is adopted. Within 15 days after this ordinance is adopted the Town Clerk shall cause it to be published once in a newspaper of general circulation published and circulated in the Town. This ordinance was introduced at a regular meeting of the Town Council of the Town of Los Gatos on November 7 , 1988 and adopted by the following vote as an ordinance of the Town of Los Gatos at a regular meeting of the Town Council of the Town of Los Gatos on November 21st , 1988.