AN ACT TO AMEND CHAPTER 277 OF VOLUME 49, LAWS OF DELAWARE, ENTITLED "AN ACT TO REINCORPORATE THE TOWN OF LAUREL", AS AMENDED, BY GIVING AUTHORITY TO THE MAYOR AND COUNCIL TO SELL BONDS AT EITHER PUBLIC OR PRIVATE SALE.
Be it enacted by the General Assembly of the State of Delaware (two-thirds of all Members elected to each House concurring therein):
Section 1. Section 15, Chapter 277, Volume 49, Laws of Delaware, as amended, is further amended by striking out all of that paragraph which, as the said Section was originally enacted, was the fifteenth paragraph thereof and inserting in lieu thereof a new paragraph as follows:
The form of the bonds or certificates of indebtedness, and the attached coupons, if any, the time or times of payment, the time or times of the payment of interest, the rate of interest, the classes, the series, the maturities, the registration, any callable or redeemable provision, the denomination and name and other relative or pertinent matters shall all be determined by the Council. The bond or bonds or certificates of indebtedness may be sold at either public or private sale.
Approved January 24, 1962.