LEWES - EXTENDING POWER OF BOARD OF PUBLIC WORKS
AN ACT TO AMEND CHAPTER 196, VOLUME 22, PART ONE, LAWS OF DELAWARE, BEING AN ACT ESTABLISHING A BOARD OF PUBLIC WORKS FOR THE TOWN OF LEWES AND DEFINING ITS POWERS, BY EXTENDING TO THE SAID BOARD OF PUBLIC WORKS THE AUTHORITY TO PURCHASE AND HAVE HOUSED AND INSTALLED CERTAIN MACHINERY FOR THE ELECTRIC LIGHT AND POWER PLANT AT LEWES ON CONDITIONAL SALES CONTRACTS, AND TO PLEDGE THE REVENUES FROM THE UTILITY FOR THE PAYMENT OF THE COST THEREOF.
Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met (two-thirds of each branch thereof concurring therein):
Section 1. That Section "3" of Chapter 196, Volume 22, Laws of Delaware, be, and the same is hereby, amended by adding at the end of the aforesaid section the following language:
3 (d). The said Board of Public Works is hereby authorized and empowered at any time in the year 1951, but not thereafter, to purchase such machinery and equipment as it deems presently necessary for the maintenance, replacement, enlargement, alteration, repair, or improvement of the municipal electric light and power plant, at Lewes, and cause the same to be properly housed and installed, either paying for the same at the time of the purchase, or making the purchases by way of what are known as "contracts of conditional sale," of a maximum of Three Hundred Twenty-Five Thousand Dollars ($325,000.00), giving the sellers the right of repossession, and, further, in the said contracts, or in notes, revenue certificates, or other evidence of debt accompanying the same, the right to collect the purchase price for the said machinery or equipment, together with interest thereon at the agreed rate, by resort to the net revenues from the said utility, but the said contracts of conditional sale and other obligations made in connection therewith shall not constitute a pledge of the faith and credit of the municipality nor be deemed as a general obligation.
3 (e). That the right of the conditional vendor to repossess machinery and equipment under the contracts of conditional sale above authorized shall continue for the entire term covered by the installment payments called for in the contract and thirty days thereafter, notwithstanding any statute or statutes of limitations which might have terminated that right earlier if this sub-section had not been enacted.
Approved February 28, 1951.