# § 37-3 Interest.

Current through 2026-07-17. Source: City of Balt., Md., Ord. 26-129. Published by the Baltimore City Department of Legislative Reference.

## § 37-3 Interest.

Balt., Md., Code art. 5, § 37-3 (2026)

(a) Any amount due and payable pursuant to law and under an authorized, written procurement contract or a construction contract which remains unpaid for more than 45 calendar days after the receipt date shall accrue interest, at a rate specified by the Board of Estimates, for the period that begins 31 calendar days after the receipt date.

(b) If the written construction contract specifies a date before which payment must be made by the City, then the provisions of that contract shall apply to the payment of interest by the City.

*History: Ord. 89-280*