CHAPTER 114

RELATING TO BORROWING POWER OF SUSSEX

COUNTY LEVY COURT

AN ACT TO AMEND CHAPTER 61, TITLE 9, DELAWARE CODE, RELATING TO THE BORROWING POWER OF THE LEVY COURT OF SUSSEX COUNTY.

Be it enacted by the General Assembly of the State of Delaware:

Section 1. § 6111, Title 9, Delaware Code, is amended to read as follows :

§ 6111. Borrowing power; limitations

(a) The Levy Court of Sussex County may, from time to time borrow money in such amounts as it may find necessary promptly to pay the County warrants issued by it, and may issue certificates of indebtedness as evidence thereof ; provided, however, that the amount of money borrowed shall not, at any one time, exceed the sum of $300,000.

(b) Any money so borrowed shall be applied to the particular fund for which it shall be borrowed, and shall be repaid from the taxes apportioned to such funds, as the taxes shall be collected. If the taxes apportioned to any fund, as to which money shall be borrowed, shall not in any year, be sufficient to repay such money, the deficiency shall be considered in making up the annual budget or estimate for the next year, and a tax rate shall be levied and apportioned sufficient to equalize such deficiency.