RELATING TO THE CITY OF NEWARK
AN ACT AMENDING CHAPTER 152, VOLUME 48, LAWS OF DELAWARE BEING AN ACT ENTITLED "AN ACT CHANGING THE NAME OF THE 'TOWN OF NEWARK' TO THE 'CITY OF NEWARK' AND ESTABLISHING A CHARTER THEREFOR," BY AUTHORIZING THE CITY TO BORROW MONEY FOR THE CONSTRUCTION OR INSTALLATION OF SEWERS, PAVING, OR MUNICIPAL IMPROVEMENTS, THE COST OF WHICH IS ASSESSABLE DIRECTLY TO THE OWNERS OF PROPERTY TO BE BENEFITED THEREBY.
Be it enacted by the General Assembly of the State of Delaware (two-thirds of all Members elected to each House concurring therein):
Section 1. Section 37, Chapter 152, Volume 48, Laws of Delaware, is amended by inserting a new paragraph after the first paragraph thereof as follows:
"Whenever the City shall require money for the construction or installation of sewers, paving, or municipal improvements, the cost of which is assessable directly to the owners of property to be benefited by such construction or installation, the Council shall be authorized and empowered to anticipate the receipt of such assessments by borrowing such amounts as are needed. Provided, however, the amount of such indebtedness shall not at any time exceed the sum of Two Hundred and Fifty Thousand Dollars ($250,000.00)."
Approved July 1, 1953.