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 GRANTING TO THE SAID BOARD THE AUTHORITY TO MAKE CERTAIN ADDITIONS AND IMPROVEMENTS TO THE ELECTRIC LIGHT PLANT AND DISTRIBUTION SYSTEM AND TO THE WATER PUMPING AND DISTRIBUTION FACILITIES, ON CREDIT, INCLUDING THE RIGHT TO BUY ON CONTRACTS OF CONDITIONAL SALE, PLEDGING THE REVENUES FROM THOSE TWO UTILITIES FOR THE PAYMENT OF THE COST THEREOF.
Be it enacted by the General Assembly of the State of Delaware (two-thirds of the Members of each Branch thereof concurring therein):
Section 1. That Section "3" of Chapter 196, Volume 22, Laws of Delaware, as amended, be, and the same is hereby, further amended by adding at the end of the aforesaid amended section the following language:
3 (d). The said Board of Public Works is hereby authorized and empowered at any time in the years 1955 and 1956, but not thereafter, to purchase such machinery and equipment as it deems necessary for the maintenance, replacement, enlargement, alteration, repair, or improvement of the municipal electric light and power plant, and the municipal water pumping, purifying, treating and distribution facilities, at Lewes, and to cause the same to be properly 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, to a maximum amount of indebtedness of Ninety Thousand Dollars ($90,000.00), giving the sellers the right of repossession, and, further giving the sellers, or their Successors or Assigns, 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 utilities, or either of them, but the said contracts of conditional sale or other obligations given in connection therewith shall not constitute a pledge of the faith and credit of the municipality nor be deemed 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 May 5, 1955.