Quote:
Originally Posted by janmcn
It should be noted that this procedure has been used for the last 20 years, ever since bonds were introduced in TV as a way of paying for the infrastructure.
It's a hard to believe that only 880 owners elected to pay off their bonds in all that time. What happened to the interest collected in error since 1992?
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I believe it has to do with WHEN the payoff was made during the year.
From
Bond Interest Refund Procedures :
"For those property owners who paid off their bonds between the annual July assessment roll cutoff date through September 16th, they were entitled to a full refund of the final annual interest installment. For those property owners who paid off their bonds from September 17th through the following March 16th, they were entitled to a 50% refund of the final annual installment of interest. For those that paid off from March 17th through the following July cutoff date, they were entitled to no interest refund."
Bill
