§ 36-340. Administrative expenses and attorneys' fees.

Each petitioner and applicant, by filing or submitting a petition or application, shall have agreed to pay all administrative expenses and attorneys' fees, with interest and costs as provided, incurred by the city in connection with or as a result of reviewing and acting on such petition or application. If more than one person signs a petition or application, all such signers shall be jointly and severally liable for such expenses and fees, with interest and costs as provided. The expenses and fees to be paid to the city pursuant to this section shall be payable upon demand made by the city, and if not paid within five days after such demand, shall bear interest from the date of demand until paid at a rate equal to the lesser of the highest interest rate allowed by law or two percentage points in excess of the reference rate. The petitioners and applicants shall also pay all costs, including attorneys' fees, incurred by the city in collecting the expenses, fees and interest, with interest on the costs of collection from the dates incurred until paid, at the same interest rate as is payable on the expenses and fees. For purposes of this section, the term "reference rate" means the rate publicly announced from time to time by First Edina National U.S. Bank, or any successor, as its reference rate, and if the bank, or its successor, ceases publicly announcing its reference rate, the term "reference rate" means the interest rate charged from time to time by the bank on 90-day unsecured business loans to its most credit worthy customers.

(Code 1970; Code 1992, § 850.04(6)B)