Peacock

In this case we examine legislation increasing the rate of interest on judgments and conclude the clear language calling for its effective date in January 1982 was meant to be January 1983.

In September of 1979, a judgment was entered against appellant, American National Bank (hereafter American National). Interest on this judgment was set at 7 percent per annum from March 14, 1977, to the date of the judgment. Thereafter, the rate would remain the same until the judgment was paid. Judgment was affirmed in this court, and a remittitur was issued.

In September of 1983, American National received a “ ‘Memorandum of Credits, Accrued Interest and Costs After Judgment.’” The memorandum requested interest after September 1979 be set at 10 percent. Later that month, American National also received a writ of execution demanding payment of the above interest at a rate of 10 percent.

American National was partly successful in reducing interest from the 10 percent demanded. A motion to quash execution of the writ was filed. After a hearing on the motion in October 1983, the court issued a minute order and an order after the hearing on the motion.

In the order, interest was set…