SENATE BILL NO. 598
AN ACT TO AMEND CHAPTER 65, TITLE 9 OF THE DELAWARE CODE; RELATING TO SANITARY AND WATER DISTRICTS OF SUSSEX COUNTY.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend §6516, Chapter 65, Title 9 of the Delaware Code, as amended by striking the existing section and substituting the following as a new §6516:
"§6516. The County government may accept grants or loans of money, labor, materials, equipment or technical assistance from agencies of the federal or state government or from interstate agencies to accomplish the purposes of this chapter. The county government may issue bonds to evidence loans made by an agency of the federal government, at private sale, providing those bonds bear interest at no more than 5% per annum and are issued for a term not exceeding 40 years from the date of the bonds. The county government may pledge its taxing power to the payment of the bonds without limitation as to rate or amount and the bonds may be payable at a place approved by the agency making the loan. Bonds issued pursuant to this section shall not be subject to the provisions of Section 6102, Chapter 61, Title 9 of the Delaware Code, as amended.
Section 2. This Act shall take effect upon adoption.
Approved July 23, 1982.