HOUSE BILL NO, 15
AN ACT TO AMEND CHAPTER 46, TITLE 9, DELAWARE CODE RELATING TO THE TIME LIMITATION FOR THE RENT COUNTY LEVY COURT TO ISSUE NOTES IN ANTICIPATION OF BOND SALES.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend §4631, Chapter 46, Title 9, Delaware Code, by striking said Section in its entirety and inserting a new §4631 to read as follows:
"§4631. Authorization of Notes in Anticipation of Bonds
In anticipation of the issuance of bonds, the county government may by resolution authorize the issuance of negotiable notes when it shall have theretofore authorized the issuance of bonds. Such notes shall mature within one (1) year from the date of their issue end may be renewed from time to time, but each renewal shall be for a period of not exceeding one (1) year, and In no event shall such notes extend more than seven (7) years beyond the original date of issue."
Approved June 16, 1981.