CHAPTER 500

WILMINGTON

AN ACT RELATING TO LIMITATIONS OF LAW AFFECTING THE AMOUNT OF BONDS WHICH MAY BE ISSUED OR BONDED DEBT WHICH MAY BE INCURRED BY "THE MAYOR AND COUNCIL OF WILMINGTON", SPECIFICALLY EXCEPTING FROM BONDED DEBT BONDS IN CONNECTION WITH THE SLUM CLEARANCE AND REDEVELOPMENT PROGRAM AND THE URBAN RENEWAL PROGRAM, AND REPEALING INCONSISTENT ACTS OR PARTS OF ACTS.

Be it enacted by the General Assembly of the State of Delaware (two-thirds of all the Members of each Branch thereof concurring therein):

Section 1. In ascertaining the amount of the bonded debt incurred or bonds issued in the name of the Mayor and Council of Wilmington for the purposes of any limitation with respect to the amount of such bonded debt or bonds issued, contained either in Section 71 of the Act entitled "An Act to revise and consolidate the statutes of the City of Wilmington", approved on April 13, 1883, and constituting Chapter 207 of Volume 17 of the Laws of Delaware, or the acts amendatory thereof or supplemental thereto, or in any other law now in effect, there shall be excluded from such bonded debt or bonds issued all bonds issued in the name of The Mayor and Council of Wilmington which may hereafter be issued in connection with the Slum Clearance and Redevelopment Program or Urban Renewal Program as the same is authorized by Chapter 45 of Title 27 of the Delaware Code.

Section 2. All acts or parts of acts inconsistent with the provisions of this act are hereby repealed to the extent of such inconsistency.

Approved August 1, 1955.