SENATE BILL NO. 328
AN ACT TO AMEND BEING CHAPTER 32, VOLUME 47, LAWS OF DELAWARE, AS AMENDED, ENTITLED, AN ACT TO REINCORPORATE THE TOWN OF FREDERICA" RELATING TO POWER TO OPERATE A WATER SYSTEM AND PROVIDING FOR THE ISSUANCE OF BONDS THEREFOR.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Two—thirds of all members elected to each House thereof concurring therein):
AMEND Section 1. Chapter 32, Volume 47, Laws of Delaware by adding thereto a new section to read as follows:
The Council shall have power to operate a water system for the Town, including the procurement and distribution of same, and to do all things necessary for its maintenance and operation upon.,such terms, charges and conditions as Council shall determine. The Council may at their option distribute water to places or properties outside of the Town Limits upon such terms, charges and conditions as they shall determine. Any term, charges and condition as Council shall determine may at Council's election constitute a lien on the real estate serviced by the system.
The Council may take condemnation proceedings for water purposes, private land or the right to use private land under the surface thereof for the laying of water mains or the procurement of water.
The Council shall have power to adopt ordinances, rules and regulations in regard to the use for public or private purposes of water furnished and to provide penalties for any willful or negligent injury or damage to its water procurement and distribution system and to any objectionable use in connection with its water system and to any interferences or obstruction of the said system.
Council shall have and is hereby authorized and empowered to borrow money and issue bonds, notes or certificates of indebtedness from time to time on the full faith and credit of the Town of Frederica to provide funds for the furnishing of water to the public and the construction, extension, repairs, maintenance and upkeep of a water system. The authority to issue bonds, notes or certificates of indebtedness shall by resolution approved by Council.
The form of the bond, note or certificate of indebtedness, the times of payment of interest, the classes, the time of maturity and provisions as to registration shall be determined by Council. The Council shall provide in its budget and in fixing the tax rate for the payment of interest and principle of said Bonds at the maturity or maturities thereof and a sinking fund therefore. The full faith and credit of the Town of Frederica shall be deemed to be pledged for provision thereof when the same have been properly executed and delivered for value."
Approved June 30, 1992