AN ACT TO AUTHORIZE THE COMMISSIONERS OF LEWES TO ISSUE BONDS TO PROVIDE FOR ADDITIONS, IMPROVEMENTS AND REPAIRS TO THE WATER SYSTEM AT LEWES.
Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met (two-thirds of the members of each branch concurring therein):
Section 1. Commissioners of Lewes, a municipal corporation, are hereby authorized and empowered to prepare and issue bonds not exceeding in the aggregate the sum of One Hundred Thousand Dollars ($100,000), of such denominations or amounts, in such form, bearing such rate of interest, not to exceed the legal rate, and with such dates of maturity as may be deemed expedient and proper.
Section 2. The bonds shall all bear the same date, shall be in such amounts as may be paid as nearly as may be calculated from the current revenues of the Board of Public Works of the Town of Lewes; and they shall contain a provision whereby the entire issue of said bonds or any part thereof, may at the option of Commissioners of Lewes, be paid at any time.
Section 3. The said bonds shall be signed by the President of Commissioners of Lewes, shall be attested by its Secretary and under its corporate seal. The secretary shall keep a record of each of said bonds containing the time thereof, the amount, the date of issue, the rate of interest, and the time when each shall have been paid.
Section 4. None of the said bonds shall be issued or delivered for any purpose except for the payment of expenses connected with the making of further improvements, repairs or additions to the water distribution system at Lewes.
place and in the same manner as other town elections. Notice of said election shall be given by advertisements in the nearest County newspaper and by posting notices in at least ten public places in said town at least two weeks before the said election, which said advertisements and notices shall state the time and place of the election and the amount of bonds proposed to be issued, and the purpose for which the said money is to be borrowed. At said election every person paying town taxes in the said town shall be entitled to vote and shall have one vote for each dollar or fractional part of a dollar of taxes paid by him or her according to the last assessment in the said town, and for the purposes of this election residence shall not be a qualification to voting in the said town. At said election the ballots used shall have written or printed thereon the words "for the bond issue," or the words "against the bond issue." If at such election a majority of the votes cast shall be for the bond issue, then bonds to the amount voted on may be issued as in this Act provided but if at such election the majority shall be against the bond issue, then no bonds shall be issued nor money borrowed under this Act.
Section 6. This Act is meant to provide for further improvements in addition to those contemplated by the enactment of Chapter 178, Volume 46, Laws of Delaware, and is not meant to be in lieu of the same.
Approved May 16, 1949