CHAPTER 45
FORMERLY HOUSE BILL NO. 184
AS AMENDED BY HOUSE AMENDMENT NO. 1
AN ACT TO AMEND SUBCHAPTER I, CHAPTER 5, TITLE 9 OF THE DELAWARE CODE PERTAINING TO SUBURBAN COMMUNITIES IMPROVEMENTS BY REMOVING THE INTEREST RATE CEILING ON BONDS.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. Amend paragraph (b), Section 502, Chapter 5, Title 9 of the Delaware Code by striking the phrase "shall not bear interest in excess of five per cent," which phrase appeared in the first sentence of said paragraph (b), and substituting in lieu thereof the phrase "shall bear interest at the most advantageous rate attainable by the Levy Court or County Council."
Approved April 28, 1971