SENATE BILL NO. 376
AN ACT TO AUTHORIZE THE ISSUANCE OF BONDS BY KENT COUNTY, DELAWARE TO FINANCE IMPROVEMENTS TO VARIOUS SANITARY DISTRICTS CREATED BY THE COUNTY.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Kent County is hereby authorized to issue bonds to finance Improvements to facilities of its sanitary sewer districts including capitalized interest on funds borrowed to finance such facilities. The faith and credit of Kent County shall be pledged to the payment of such bonds.
Section 2. The maximum amount of bonds to be Issued to finance improvements to any sanitary sewer district, listed in Section 3 below, may be established by a bond resolution adopted by the Levy Court of the County at a regular or special meeting of the Levy Court, notwithstanding the provisions of Chapter 46, Title 9, Delaware Code, as amended.
Section 3. Any bonds issued pursuant to this Act may be sold at public or private sale, at such interest rate or rates as the Levy Court of Kent County shall provide for in the applicable bond resolution.
Section 4. Any other provision of law notwithstanding, the proceedings taken by Kent County to establish the following sanitary sewer districts are hereby determined to be regular and proper and the establishment of such sanitary districts is hereby validated and confirmed: Capitol Park Sanitary District Extension No. 1; Capitol Park Sanitary District; Bowers Sanitary District; Cheswold Sanitary District; Cheswold Sanitary District Extension No. 1: Felton Sanitary District; Village of Garrisons Lake Sanitary District Extension No. II; Isaac Branch Sanitary District; Magnolia Sanitary District; Tidbury Branch Sanitary District.
Section 5. Any other provision of law notwithstanding, the proceedings taken by Kent County and any of the sanitary sewer districts named in this Act on or prior to the effective date of this Act with respect to the issuance and sale of obligations of Kent County to finance any part of the cost of Increasing, improving and reconstructing facilities described in §4616 of Title 9 of the Delaware Code are hereby determined to be regular and proper and such authorizations are hereby validated and confirmed.
Approved April 3, 1986.