RELATING TO TOWN OF REHOBOTH
AN ACT TO LEGALIZE AND VALIDATE THE ACTS DONE AND PROCEEDINGS TAKEN BY THE COMMISSIONERS OF REHOBOTH, A MUNICIPAL CORPORATION, AND BY ITS OFFICERS AND AGENTS, IN RELATION TO THE ISSUANCE OF CERTAIN OUTSTANDING WATER BONDS OF SAID MUNICIPAL CORPORATION, AND TO LEGALIZE AND VALIDATE SAID BONDS AND TO PROVIDE FOR THE PAYMENT OF SAID BONDS.
Be it enacted by the General Assembly of the State of Delaware (two-thirds of all Members elected to each Branch thereof concurring therein):
Section 1. All acts done and proceedings taken by The Commissioners of Rehoboth, a municipal corporation, and by its officers and agents, in relation to the issuance of the bonds of said municipal corporation, now outstanding, which are designated as Rehoboth Beach Water Improvement Bonds Issue of 1952, and are of the aggregate principal amount of One Hundred Eighty-Five Thousand Dollars ($185,000.) and are dated January 1, 1952, and consist of one hundred and eighty-five bonds of the denomination of One Thousand Dollars ($1,000) each, numbered from one (1) to one hundred and eighty-five (185), inclusive, and maturing serially, five (5) bonds on January 1, 1955, and six (6) bonds on January 1 in each of the years 1956 to 1985, inclusive, are hereby legalized and validated; and said bonds are hereby legalized and validated and declared to be general obligations of said municipal corporation, notwithstanding any defect or irregularity in such acts or proceedings or in the sale, execution or delivery of said bonds. For the payment of the principal of and the interest on said bonds, as such principal and interest become due, The Commissioners of Rehoboth shall have power to levy taxes upon all taxable property in the City of Rehoboth Beach at such rate and in such amount as may be necessary for said purpose.
Approved July 6, 1953.