AN ACT TO AMEND AN ACT BEING CHAPTER 197, VOLUME 54, LAWS OF DELAWARE, AS AMENDED, ENTITLED "AN ACT REVISING THE PRIOR CHARTER OF THE CITY OF REHOBOTH BEACH AND ESTABLISHING A NEW CHARTER THEREFOR AND PRESCRIBING THE POWERS AND DUTIES OF THE COMMISSIONERS OF REHOBOTH BEACH" BY INCREASING THE AMOUNT OF MONEY WHICH MAY BE RAISED BY TAXATION OF REAL ESTATE.
Be it enacted by the General Assembly of the State Delaware (two-thirds of all Members elected to each House concurring therein):
Section 1. Section 29 (a) 30, Chapter 197, Volume 54, Laws of Delaware, as amended, is hereby further amended by striking all of said Section 29 (a) 30 and inserting in lieu thereof the following:
Section 29 (a) 30. To levy and collect taxes for any and all municipal purposes upon all real estate within the City, except lands belonging to the City. Provided, however, that the amount to be raised from the taxation of real estate shall not exceed in any one year the sum of Four Hundred Seventy-five Thousand Dollars ($475,000.00). There shall be no limitation upon the amount which may be raised from the taxation of real estate for the payment of interest on and principal of any bonded indebtedness, whether hereinbefore or hereafter incurred.
Approved May 14, 1965.