AN ACT TO AMEND CHAPTER 8, VOLUME 56, LAWS OF DELAWARE, BEING ENTITLED AN ACT TO AMEND CHAPTER 163, VOLUME 32, LAWS OF DELAWARE, AS AMENDED BEING AN ACT ENTITLED "AN ACT TO FURTHER AMEND CHAPTER 92, VOLUME 23, LAWS OF DELAWARE" BEING AN ACT ENTITLED "AN ACT TO PROVIDE FOR THE ORGANIZATION AND CONTROL OF THE PUBLIC SCHOOLS OF THE CITY OF WILMINGTON" BY PROVIDING FOR AN INCREASE IN THE BONDED INDEBTEDNESS OF THE CITY OF WILMINGTON FROM 3 PER CENTUM TO 10 PER CENTUM.
Be it enacted by the General Assembly of the State of Delaware (two-thirds of the Members elected to each Branch thereof concurring therein):
Section 1. Section 7A of Chapter 163, Volume 32, Laws of Delaware, as amended, being an Act entitled "An Act to Further Amend Chapter 92, Volume 23, Laws of Delaware" being an Act entitled "An Act to Provide for the Organization and Control of the Public Schools of the City of Wilmington" is amended by striking the first paragraph of Section 7A thereof and inserting in lieu thereof a new first paragraph of Section 7A to read as follows:
The City of Wilmington shall have power and authority to borrow money from time to time to be used for the erection and equipment of new school buildings or additions to or enlargement of old school buildings, or for the re-equipment of old school buildings, including the purchase and improvement of grounds and playgrounds, and the refunding of existing bonds, to an amount, inclusive of its present bonded debt, not exceeding in the aggregate ten per centum of the then assessed value of the real estate of said city; provided, that the indebtedness herein authorized to be incurred shall be exclusive of and in addition to any indebtedness authorized to be incurred by "The City of Wilmington" in the charter of said city as now existing, or as it shall hereafter be amended from time to time.
Approved February 4, 1970.