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Pg. 3. • anv deposit if the account for which it was made has had no termination for non-payment, and has not had two or more bad checks received in payment, during the preceding twelve months. Likewise, upon voluntary termination of service to an account, the deposit shall first be applied to the balance due and the balance refunded to the customer. (f) The director of finance and city manager are autho- rized to enter into agreements with responsible organizations or individuals to provide for a guaranty of the account of individ- uals meeting established criteria, in lieu of any required initial deposit, in an amount equal to the deposit which would otherwise have been required, provided such agreement in their iudament gives the city substantially equivalent security. Beginning March 1, 1981, simple interest shall accrue on all deposits held for more than ninety days, at the rate of six percent per annum. Such interest shall continue to accrue until the deposit is refunded or until a reasonable effort is made to refund it, and this interest shall be paid with such refund. • Section 12-10.1. Delinquent accounts; finance charge; termination of service. (a) All bills for gas service and other charges rendered pursuant to this chapter shall be payable upon presentation, and shall be considered to be in arrears if not paid prior to the rendering of the next monthly billing. Any amount for which payment has not been received w#tin-tk4rtp-days-e€-the-#ntgef- billing by the next billing date shall be subject to the imposi- tion of a finance charge of one percent per month for each month until payment is made. The next billing date shall be clearly stated on each monthly statement, and shall be not less than twentv-five days after the date of the current billing. (b) Payments received on any account shall be first applied to the amount of any unpaid finance charge, then to amounts in arrears reducing the oldest charges first, then to current billings. (c) In addition to the finance charge imposed under subsection (a), the director of finance may order the termination of service to any customer whose account remains in arrears more than ten days after such customer has been mailed a final-netiee • delinquent statement which netiee shall plainly indicate that service may be terminated if payment is not made.