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 AMENDING THE BORROWING POWER OF THE CITY FOR CURRENT EXPENSES.
Be it enacted by the General Assembly of the State of Delaware (two-thirds of all Members elected to each House concurring herein):
Section 1. Section 37 of Chapter 152, Volume 48, Laws of Delaware, as amended, is further amended by striking out the words and figures : "the sum of $100,000.00". where they appear in the second sentence of the first paragraph of said section and by'inserting in lieu thereof the following words and figures :
"1% of the assessed valuation of the assessable and taxable real property within the limits of the city."
Approved May 18,1 955