sec.125Special provision for agreement to defer rates or charges

### sec.125 Special provision for agreement to defer rates or charges This section applies if a concession to a ratepayer for rates or charges includes an agreement to defer the payment of the rates or charges. The agreement must state either— for an agreement under which the rates or charges become payable on a particular day—the due date for payment of the rates or charges; or for an agreement under which the rates or charges become payable when an event happens—a description of the event and the due date for payment of the rates or charges in reference to the event. An agreement provides for general rates for land to be paid at the end of a stated period after the land is transmitted to the ratepayer’s personal representative or sold. The agreement may also include a condition that the ratepayer must pay an additional charge in return for the local government agreeing to defer payment of the rates or charges. (sec.125-ssec.1) This section applies if a concession to a ratepayer for rates or charges includes an agreement to defer the payment of the rates or charges. (sec.125-ssec.2) The agreement must state either— for an agreement under which the rates or charges become payable on a particular day—the due date for payment of the rates or charges; or for an agreement under which the rates or charges become payable when an event happens—a description of the event and the due date for payment of the rates or charges in reference to the event. An agreement provides for general rates for land to be paid at the end of a stated period after the land is transmitted to the ratepayer’s personal representative or sold. (sec.125-ssec.3) The agreement may also include a condition that the ratepayer must pay an additional charge in return for the local government agreeing to defer payment of the rates or charges. - (a) for an agreement under which the rates or charges become payable on a particular day—the due date for payment of the rates or charges; or - (b) for an agreement under which the rates or charges become payable when an event happens—a description of the event and the due date for payment of the rates or charges in reference to the event. Example— An agreement provides for general rates for land to be paid at the end of a stated period after the land is transmitted to the ratepayer’s personal representative or sold.