CHAPTER 165 - SELBYVILLE

AN ACT AUTHORIZING THE MAYOR AND COUNCIL OF THE TOWN OF SELBYVILLE TO BORROW MONEY TO PAY THE RUNNING. EXPENSES OF THE TOWN.

Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met (two-thirds of all the members elected to each House thereof concurring therein):

That the Mayor and Council of the Town of Selbyville, a municipal corporation of the State of Delaware, for the purpose of defraying the ordinary running expenses of the Town, be and it is hereby authorized and empowered to borrow money and to pledge the faith and credit of the town for the due payment thereof; provided, however, that the total amount of money borrowed for this purpose shall at no time exceed Two Thousand Dollars ($2,000.00), that the rate of interest paid upon such loan or loans shall not in any event exceed six per centum per annum, and that the borrowing herein provided for shall be done in each instance only in pursuance of a resolution properly passed by the Mayor and Council of the Town at a regularly called meeting of said town Council.

Approved May 3, 1937.