Current through Register Vol. 46, No. 39, September 25, 2024
Interest at the rate of four percent per annum to August 1,
1966 and at the rate of six percent per annum thereafter will be paid by the
State on either agreements of adjustment or agreements for partial and advance
payment approved on and after July 1, 1962 by the Commissioner of
Transportation and, when required by statute, by the Comptroller regardless of
when the property was acquired by the State on the following conditions:
(a) Interest shall accrue on all such claims:
(1) upon the date of entry on the property
for construction purposes when title has not vested by the filing of the
appropriation map in the county clerk's office; or
(2) upon the date of vesting of title to
property when entry for construction purposes has not been effected.
(b) Suspensions. Such interest
will be paid on agreements of adjustment and agreements for partial and advance
payment from such dates, whichever is earlier, to the date of payment of the
claim except as follows:
(1) provided an
acceptable agreement had not been delivered to the State, interest shall be
suspended as follows:
(i) for claims accruing
by vesting of title prior to July 2, 1971, six months after title vesting
unless a claim had been filed pursuant to the Court of Claims Act.
(ii) for claims accruing by the vesting of
title on or after July 2, 1971, six months after the personal service of the
notice of appropriation, map and description upon claimant, unless a claim had
been filed pursuant to the Court of Claims Act.
(2) provided the amount of a claim had not
been agreed upon, and claimant failed or refused to sign an agreement for
partial or advance payment of the value of the claim as determined by the
commissioner, interest shall be suspended on the amount of the claim so offered
either:
(i) from the date of claimant's
refusal, or
(ii) the date 90 days
after notification by the commissioner of such offer by registered mail,
or
(iii) the date six months after
title vesting or personal service, whichever is applicable under paragraph
(b)(1) above, unless a claim had been filed pursuant to the Court of Claims
Act, whichever of dates (i), (ii) or (iii) is earlier to the date claimant
subsequently accepts such offer of partial or advance payment and delivers an
acceptable agreement to the State
(3) interest shall be suspended from the
expiration of 30 days after either:
(i) the
date of the approval of the agreement by the commissioner and, when required by
statute, the Comptroller, or
(ii)
the date of delivery of closing papers to claimant, whichever date is later and
shall remain suspended until the Attorney-General is presented with all proper
proofs, instruments and vouchers in satisfactory form which he requires in
order to authorize payment of the claim.
(c) Extensions. In those cases where the
Commissioner of Transportation is restrained by judicial order or proceedings,
or delayed by other causes, from proceeding with the adjustment of claims, the
said period of six months referred to in the subdivisions above may be extended
by the commissioner for the duration of such restraint or delay and for such
additional period up to and not to exceed six months after the restraint or
delay is terminated.
